Advice on asking for settlement as Paid absent the dreaded "Paid for less"

[Anonymous]

I'm negotiating a CC chargeoff settlement with a CU Attorney for approx 15k owed.     The credit card was chargedoff about a year ago.  This week I offered to settle at 5k but the CU attorney won't budge from 10k regardless of the spector of BK I threw at him.   

Any advice if I decide to bump my offer up to 7K or 8K, what the likeyhood is of them agreeing to mark the account as "paid" absent of "paid for less?   Not sure if 50% of debt paid in a lump sum gets that done ever.  

While I'm at it, Is there anything else I can request in exchange for a higher settlement offer (such as not to re-aging the acct) for a slightly better reporitng outcome?   

Any sage advice would be greatly appreciated.  This is happening in real time. Thanks!  

[RobertEG]

Exclusion of the reported charge-off is based only on the reported DOFD, so there is no offer to be made regarding not re-aging the exclusion date.

It is fixed at no later than 7 years plus 180 days from DOFD.

Settiling for less will discharge the debt and also preclude any referral for collections, which could add an additional major derog to your report and further complicate your deletion efforts.  Settled for less never a favorable comment upon a manual review, but is not so "dreaded" that I would hold out on a settlement based only on that issue.

The only other leverage might be if the SOL is soon to expire.  Howver, delays still run the risk of a referral or sale to a debt collector.

[Anonymous]

Thank you!   I didn't realize a paid for less might derog worse than a chargeoff but it makes sense depending on age / amount.  

I'll focus on a higher settlement offer in exhcnage for a paid only comment and will see what happens.  Thanks again

[Anonymous]

Also, if it just happened last year they could easily still sue you for the total.  I can't imagine they will give up so easily only a year in.

[RonM21]

Welcome to the forum! So right now, trying to only give them $5K is not going to work. The only thing you can do is work with them as best you can at this point. You don't want them to sue you, and certainly don't want a worse derog.