I co-signed a loan with Household in '97 for my sister's ex. He has been late several times and it is killing my score. I have never had a late pmt. on my accounts and I recently got my line of credit at Wachovia dropped due to "delinquent accounts" and Fleet cc dropped me from $10k credit limit to $700! I want to get rid of this even if it's out of my own pocket. I have never had possession of the furniture and I am the co-borrower. If I write a letter to Household offering to settle in exchange for deletion from my file, can I offer them less than the balance even though it has never been sent to collections?
You can offer, that doesn't mean they will accept. But, nothing ventured, nothing gained. Try it and see. You are certainly out nothing by asking.
