I sent a settlement offer to Providian offering 50% of balance if they delete all negative info and give me a R1 . They responded, saying they'll accept the $$ and give me a R1 rating BUT they won't take off the past history. Is this worth arguing over?? Is an R1 status with 90+ lates showing that much worse than an unpaid charge-off? Advice is welcomed. Thanks. -lb
Hi, My husband had Charge off with Providian but Paid in Full then he sent the letter thru PFB, Got response will remove charge off but there are 30 late payment, 60 late payment and 90 payment. (Account close by Credit Grantor) He sent out another letter asking them to remove those late payments. Haven't got any response yet. It's been 20 days already. Aux
Thanks for the response. Only problem is, I sent them an email via PlanetFeedback and have yet to receive a response.
A Charge off will be an R9. That is bad, m'kay. You do not want that on your report. R1 status means paid as agreed...it reffers to the account in 'general'. Your late history will be there BUT you have a better chance of having it reduced later. A paid charge off and an unpaid charge off both have the same bad score affect. I would take the deal, get the R1, then worry about the lates as you go on. I am sure others here will have more ideas/options, though.... Shawn
Hi Shawn, Thanks for the advice. With Providian in uncertain times, taking the R1 and disputing the lates may be a good way to go...if they get bought out, the new company may not have all of the validation info needed to prove I was late.
