Discover Business Card Charge Off
Date: Mon, 03/09/2009 - 17:13
Dear __________,
Your Discover Card Account is seriously past due. To avoid having your Account charged-off as a bad debt, which will be reflected on your business' credit bureau record, call us today.
Here sre some solutions:
Send us a payment for just $233 to stop the charge-off action for now. We must recevie this payment by 3/5/2009.
Let's discuss the options we have available. We can work together to find a way to bring your Account up-to-date with payments that you can live with.
Please take a moment to call us today,
Sincerely,
Steve Clifton
DFS Services LLC
Well, I missed the deadline. Anybody know what happens now? Does that just mean they are going to sell it to somebody that will really come after me, or does it just mean that it will be charged off and I won't owe anything. Do you think it will affect my personal credit score too?
Thanks,
Trav
Hi teamtrav, A charge-off doesn't mean you don't owe anything
Hi teamtrav,
A charge-off doesn't mean you don't owe anything, it just means the original company wrote it off as a loss, and then sold it to a collection agency. Debt buyers are very aggressive collectors so expect to hear from one soon.
But first I would call Discover and see if it's not too late. If it isn't, they will most likely honor this if you can pay them the $233.
chrys
Who am I going to have better luck negotiating with? Discover c
Who am I going to have better luck negotiating with? Discover card or the new company. From the sound of the letter, it doesn't sound like they are to the point that they are going to sue, but that may be the next company that buys the debt.
It's better to work with the original creditor. If they do a cha
It's better to work with the original creditor. If they do a charge-off, that will stay on your credit report even if you pay it all off through the collection agency. I would at least see what Discover can offer you.
chrys
I don't care about my business credit report. From this, it sou
I don't care about my business credit report. From this, it sounds like that is what it would affect.
If it is a business debt, it will stay with the business, unless
If it is a business debt, it will stay with the business, unless you are operating under your own name and not as an LLC or a Corp.
Not necessarily. I had three business-only accounts that were l
Not necessarily. I had three business-only accounts that were listed under my EIN and business name, not my social security number or personal name, and when the business closed and my EIN was no longer valid, two of the three accounts turned up on my regular credit report. BofA was one, and I can see how that happened because I did have a personal account also, so they had my SSN, but the other was Advanta and they never did have my SSN. The other, a Chase business account, is still floating about in limbo.
I am pretty sure Discover card has my SSN. I am surprised they
I am pretty sure Discover card has my SSN. I am surprised they haven't reported to my personal credit reports yet. I just checked them today and there was no evidence of discover card touching it. I did find out when I called discover card that I was 203 days past due.