I have a charge off in the amount of $663. It was my account. I have tried to dipute this with the credit bureaus and all verified. I am now in the process of trying to get a mortgage and am told that I must clear up this debt. Should I try and settle for say 25% and have the account listed as "charge off- settled "? I have tried several times to negotiate with them and have them remove the negative comments in return for full payment, but they outright refuse. As time is running out, I do not have time to validate the account. Any thoughts??
when was it charged off, if it was more than 3 years ago ask them for 25% off balance as well as at least an R5 rating (if they still refuse to delete).
It's not old enough to give you that much bargining room. Even though it won't improve your report/scores, paying it off is usually all the mortgage company wants to see. Offer 50%/no rating change. If they go for that, try offering 75% for a better rating. See if they'll play ball.
