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Frequent Contributor
rightcoast
Posts: 278
Registered: ‎12-10-2012

Re: Bank of America Charge Off Sold to Asset Acceptance

Im guessing if I pay of the CA and they delete (fingers crossed) it would look a little bit better. That really is my only option


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Established Member
peterg1
Posts: 17
Registered: ‎04-21-2012

Re: Bank of America Charge Off Sold to Asset Acceptance

I was in similar situation. I've had success with Asset Acceptance GW deleting after a settlement for less than balance owed. Stil working on the CO from BofA, but it is not looking good.

Starting FICO 496
April 2012 FICO EQ 565
Current FICO TU 697 EQ 676
Frequent Contributor
rightcoast
Posts: 278
Registered: ‎12-10-2012

Re: Bank of America Charge Off Sold to Asset Acceptance

Its like a rock in a hard place. I know the feeling. Let me know how your progress goes


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Bank of America Charge Off Sold to Asset Acceptance

It's a bit difficult to caste the debt collector as the bad guy when their credit reporting agreement with the CRAs stipulates that they are not to delete prior reporting based on payment of the debt.  That stipulation is made by the CRAs based on their view that subjective deletion of credit history is not in the interest of the maintining the integrity of credit reporting system.  Hard to argue against integrity.......

Frequent Contributor
rightcoast
Posts: 278
Registered: ‎12-10-2012

Re: Bank of America Charge Off Sold to Asset Acceptance

I agree I am the consumer and responsible for the debt. But this is some of the reason why the economy is so bad! We are not getting any chances to purchase cars, homes, etc because of small mistakes on our CR holding us bank. If im not mistakened, our tax money was used to bail out Bank of America. But again they do not offfer any GW. Its simply unfortunate and there needs to be changes


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Frequent Contributor
rightcoast
Posts: 278
Registered: ‎12-10-2012

Re: Bank of America Charge Off Sold to Asset Acceptance

Im trying to PIF but whats the point, its still remains on my credit as a charge off with one tradeline, and a paid collection on the other! BAD BAD BAD


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Member
ericpcao01
Posts: 5
Registered: ‎02-06-2013

Re: Bank of America Charge Off Sold to Asset Acceptance

Any update on the this thread?

I have a similar situation just like the original post: had a B of A credit card ($2k line only) and was charged off and sold to Asset Acceptance.

 

I got back on my feet now and am trying to take care of the issues and clean up my credit.

I have called Bank of America couple times and got the same answer every time: the debt has been sold and there is nothing they can do.

 

Does anyone really have the experience of B of A pulling back the account they sold off? I have searched a lot but haven't seen any real case online. 

Would someone please post who to talk to and how to get this done with successful experience?

 

Also, what are the settlement result with Asset Acceptance? Is it easy to settle with deletion? Settle at which percentage?

 

 

Any info is greatly appreciated. Thanks!

 


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