I have two charged off accounts with Public Service Credit Union. One was a personal loan (Bal: 3500) that I used for college tuition and another for a car that was financed through them (Bal: 6700). Basically, my car was a lemon and broke down. It was too expensive for me to fix so I lost my job due to having no transportation (I live in an area where public transport is terrible). Anyway, both accounts were assigned to a law firm and have been paying them back every paycheck for about a year now in order to not get sued. I don't have the money to be able to offer them a pay in full or pay for delete. Are there any other options for me to get these off of my reports or do I need to stick it out until they are paid off?
There is no contract that I know of; I haven't signed anything. I made payment arragements over the phone, however. Could that be seen as a verbal contract?
Yes, that is a verbal contract (hence payment plan), its their agreement with you to keep you from being sued. I have the same issue with 2 charged off accounts, I can relate to your pain. I unfortunately was sued by one of them and received a judgement. I've agreed to settle this account ($1344) as of April 30 this month so I can put it behind me. The other will be paid off shortly ($1135). Im ready to say good riddance to both.
Score: F8 EQ 609, EX 597, TU 614 (1/17) Current Score: F8 EQ 701, EX 714, TU 689 (12/18)
Bump