I had a credit card with capital one with a $200 limit of course it went bad and with fees I now owe over $900. On my credit report no limits are listed, but it shows late payments, so of course this looks bad. Im am thinking about asking them to reinstate my card, remove all lates and let me make monthly payments to get this paid down. Does anyone think this is possible or has anyone ever done this?
Cause if it is, you're up chocolate creek without a popsicle stick.
Not trying to be harsh. Even if it is charged off you can still try asking them to reinstate. But I have had no luck with that option with BofA. They suck!! They claim a charge off is an accounting entry that places says the account is uncollectible and is a bad debt. Now, as far as I know of accounting, an entry can be reversed.
I had the same thing...Crap1 w/$200CL and charge-off. $918bal. I settled w/them for $466. I did have the remaining bal still on CR...I kept disputing it for a $0 bal and they finally deleted it off EQ CR...which it was suppose to have stayed 7yrs. However...they didn't delete w/TU & EX...but they gave a $0 bal. But now I know what I know...I would ask for a PFD before I sent them anything.