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For those of you who have settled charged-off accts...

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I just checked my credit report and apparently three of my four delinquent accounts are reporting as charged-off. Only one has been sent to a CA.

Does anyone know what will happen to the "Charge-off" status once I settle the debt? Will "charge-off" disappear and be replaced with "settled"?

Would it be considered outrageous to ask that the charge-off status be removed upon settlement? Would I have to ask for a full delete of the item?

Has anyone ever had any success with this? I am talking about major creditors, like Citi.

Thanks so much in advance.

you can always ask, it doesn't hurt. It just depend on how you and the creditor interact, how long ago the debt was, how much the debt was, how much of a settlement you are paying, etc. I am sure that they consider all factors regarding these "pay for delete" situations.

worse case scenario is they refuse, you pay what they want, and then you spend a few minutes every month for the next "X" number of years (up to 7) disputing their reporting of the debt. You may get lucky and they might get sick of spending the time (and possibly money) reporting on your paid debt.

good luck!

Sub: #1 posted on Tue, 08/19/2008 - 12:55

smo65d11 smo65d11

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