Hi, I've been reading these forums for a few weeks now and you guys really know your stuff. I have a problem that maybe someone could help me with. I have a charge-off with Wells Fargo. Origanlly it was for a PLATO student loan (Taken out in early 99), got charged-off and sent to NCO and then sent over to Wells. The original amount was 4,000. Between payments to PLATO, NCO, and Wells I've already paid almost 3,000 of this thing. However, when looking at my credit reports, Wells Fargo shows me owing 3,600 (the TR states charge-off, making payments??). I'd like to get this thing settled, and off of my reports. Wells Fargo did send me a letter a month or two ago suggesting they were interested in settling. I can come up with between 1,000 to 1,500 to settle this. My questions are: How likely is Wells to settle? Would a 1,000 or 1,500 settlement payoff be "good enough" for them? I've seen some sample settlement letters, but do you guys have any "proven" winners or any tips and tricks you could offer me? Thanks in advance, you guys rock!!
Well, I'm sure when I paid NCO 1,000 they just counted it as "fees" and then passed it on to Wells with the original balance. However, at this point I just wanna do what it will take to get this thing paid and hopefully get them to pull it from the reports...
