wells fargo letter

No, because it'll change the status date and tank your FICO.

Only pay if they're willing to delete.

 

I believe the date that begins the clock is the date of first delinquency, not date of last activity.

Are you trying to buy a house or clean up your report...

Settle for deletion. It's my experience that Wells is a pain when it comes to this, but try.

 

You don't want paid as agreed, you want paid in full, and never late or just deleted. TRUST ME ON THIS

 

It's true, the rule of thumb is to have it paid as agreed or deleted. However, if applying for a car loan or home loan, you want it paid, as opposed to open and delinquent.

If the account has already shown as charged off, which it may, paid as agreed or in full is not an option.

 

BEWARE of Wells!!! Been there, done that!!! GET IT in writing from a supervisor! Only deal with them, not the flunky smart A's.

They did the same thing to me. Gave me a week to pay it. I told them I'd think about it and they took the full amount out of my Wells cking that day. $800!!! I finally got them to write me a letter (2months later and calling them over and over). They NEVER reported it to the CRA's. I had to send the letters for deletion. To top it off this was included in my ex's BK. I have a long post on it here (don't know how to attach it).

 

Are you sure you are dealing directly with Wells, or instead a CA claiming to be collecting for Wells, or collecting on a Wells account they bought? When was this originally charged off?

 

Making a payment on an old charged off account does NOT change the DOLA on your account. The DOLA is the date your account first went past due not the date you made a last purchase or date you made a payment of some sort. Check with the FTC on this. If they change the DOLA based on a settlement you have grounds to sue and will win.

 

If there's any way you can do it, take the settlement offer.