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Posted: Sun May 04, 2008 10:56 am

I have a cc that was canceled because of universal default, even though I was up to date on payments with that card, i stopped making payments almost a year ago and they sent me to collections, they are now saying that the cc is a charge off. My questions is how is not on my credit report? And will it pop back up on my credit report at some point? I called and tried to reduce it if I could pay a lump sum. They said no.

Posted: Sun May 04, 2008 1:43 pm

I am surprised that it isn't on your credit report, and since it hasn't even been a year since you quit paying, I would not be surprised if you receive a collection notification from an agency or law firm, if you haven't already.

I have a feeling this account will definitely appear back on your credit reports at some point. I would call and ask them if the account has been sold off or turned over to a collection agency, and if so, who.

If you can find out who has the debt, you can contact them directly to try and work out a settlement of the debt. A collection agency/law firm is far more likely to work out a deal to accept less than amount owed to settle debt in full.

Just make sure you get everything in writing before you proceed with anything.

Posted: Sun May 04, 2008 7:13 pm

I agree it will eventually pop up again probably close to the time the sol runs out. Good advice tiffany. Don't ignore it it will be much easier to deal with it now while everything is still fresh in your mind.