Settle before or after charge-off
Date: Mon, 03/22/2010 - 18:54
How much worse is the damage to my credit report if I make an agreement after vs. before the charge-off?
Chase claims that once it charges off, the bad info will be on my report for 7 years, but if I pay before the charge-off, it will almost immediately show as "paid as agreed"
Thanks for any help you guys can give. Its been a tough ride the past couple of years. I just found this board and its been a big help.
Well I would get that in writing. If it doe show as a paid as a
Well I would get that in writing. If it doe show as a paid as agreed, that will be good for your credit report vs. a "paid after charge off" or "settled". If it hasn't charged off yet, then it is still well within SOL because I think charge off is 180 days. a 30% settlement is rather good considering it is from the original creditor! But get it in writing!
Yes, Steve 30% sounds good and that too from the OC. Although yo
Yes, Steve 30% sounds good and that too from the OC. Although you can get it settled at 10% less but still it's better to get it done before the account gets charged off as it always draws a negative impact on your credit report. It's true that it remains on your credit report for 7 years from the date it was charged off.
Do get the settlement agreement on the company's letterhead duly signed by the authorized person and don't disclose your checking account details. Refrain from making any kind of payment unless you have the required documents. Ensure that Chase updates the status correctly on the CR afterward.
I would call Deleted - NDthey settled my accounts for pennies on
I would call Deleted - NDthey settled my accounts for pennies on the dollar and got most removed from my credit report. I tried to do it myself but i was hitting roadblocks. They can be reached at Deleted - ND.
Nice try troll. Try reading the TOS - ND