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

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

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!

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