Reply
Valued Member
Posts: 47
Registered: ‎06-01-2007
0

Asset Acceptance LLC (CA on old PROVIDIAN BANK credit card account!) - Settlement Offer???

Asset Acceptance LLC (CA) who purchased an old debt of mine from PROVIDIAN BANK has sent me a "Settement Offer" that I have some questions on!
 
The total amount I owed to Providian Bank when the account was charged off was $697.68 and the debt is 5 years old (last payment on account was in 10/2003). 
 
The "Settlement Officer" states that if I pay them $209.30 they will give me a zero balance on my Providian Bank account with them, send me a paid account letter and report appropriately to the creidt bureaus! 
 
Normally I would just throw out a letter such as this because most of my bad debt is so old that it would hurt my credit more to pay it off now then to just wait another year or so for it to be removed from my credit reports. 
 
However, I was thinking that if I contacted the CA that I could negotate with them that I will pay them the $209.30 BUT they have to remove entirely all their reported information to each of the three (3) credit bureaus!  Is that a possiblity?  How would I go about doing that as I never had dealt with a CA before?  Also, can the CA only remove their reported information.......or can they also remove Providian Bank's old reported information now that they own the debt?
 
I appreicate anyones advise!  This is one of my last Bad Debts on my credit reports (only Mobil is left now which is about 6 years old).
 
Thank you.
EQ 637 / EX 576 / TU 600
Valued Member
Posts: 28
Registered: ‎08-29-2007
0

Re: Asset Acceptance LLC (CA on old PROVIDIAN BANK credit card account!) - Settlement Offer???

just be careful with Asset Acceptance.  they are truly evil.  They sued me for a $1000 discover card that was no longer on my credit report but still within sol (since i live in ohio SOL is 15 years unfortunately).  you may want to settle with them, but don't count on them deleting anything.  Definitely know your state's sol!
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.