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Charge Offs Payment Settlements??

New Member

Charge Offs Payment Settlements??

Hello all, I am NEW to this forum but not to the CREDIT war...I have about 4 accounts that are now listed as CO with balances remaining...how much of the debt should be offered as pay off amount - is there a general percentage? also, do I make restitution with the OC or the CA? Thanks.
Message 1 of 5
4 REPLIES
Established Contributor

Re: Charge Offs Payment Settlements??

your best bet would be to get them removed upon payment, PFD (Pay for Delete). Try the original creditor. If they can agree to remove the entry from your reports upon payment...jump on it!!!
 
 
Message 2 of 5
New Member

Re: Charge Offs Payment Settlements??

Ok, will do.

Still unclear how much to offer as a payoff - say $2000 CO - would offering HALF of this amount be a first attempt?

Thanks...
Message 3 of 5
Frequent Contributor

Re: Charge Offs Payment Settlements??

I would say, offer half or there abouts, then that leaves plenty of room for negotiations.

You may have to gothe full amount, but possibly not.

And make sure you GET IT IN WRITING.

GL
Message 4 of 5
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Established Contributor

Re: Charge Offs Payment Settlements??

def get everything in writing before you pay.
Message 5 of 5