I got a question, how do you pay charged off accounts?

what kind of info about that do you need?

If an account is charged off it was more than likely sold to a collection agency. You can either (a) look on your credit report to see who owns the account now or (b) contact the original creditor to see who it was sold to. Then contact the agency who holds it.

I guess it's best to wait and be sued than to call and offer a settlement amount much less than the charge off?

I don't understand why they sell it for cheap, but won't accept a lower final payment. Guess thats considered taking advantage of the system? I guess the whole process of debt collectors and the threats and harrasment it just a lesson?
Because apparently, if you're not as dumb as a rock, you can settle for less AFTER you go through all the BS.

No secret to skipping the BS I guess?

Actually it's better to settle before you get sued.

-If you are sued and the collector wins, you won't be able to negotiate the amount. You'll pay higher because you'll pay for their court fees.
-If you are sued and the collector wins, a judgment will be placed on your credit report.

-If you attempt to settle before they sue, you can negotiate getting the account deleted off your credit report, or marked paid in full.

I just went through a lawsuit, hired a lawyer, settled out of court for less than 25% of what they wanted at first. And got a Dismissal With Prejudice.

It doesn't sound to me like the collector won.

In addition I would have gladly paid that amount straight to the creditor rather than going through a lawyer. And I'm assuming a big chunk of that money goes to the plantiff and thier attorney. I can't imagine how little of it the creditor got.

Call the original creditor and find out who they assigned (or sold) the debt to, and contact the collection agency so they can send you your dunning letter, and then negotiate for a settlement. Click on "Do It Yourself" above for a detailed breakdown of the process.

I am glad things worked out well for you in court. That is always good to hear!

Thanks Chrys, I'll read up on that.
Trying to get a heads up before another lawsuit comes to the door.