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Discover Card Charge-Off ... HELP

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Anonymous
Not applicable

Discover Card Charge-Off ... HELP

So I owe discover $1100, the debt is about 5 years old, just wanna know if I pay it off is it possible to get a new account with them?

Message 1 of 5
4 REPLIES 4
JSS3
Valued Contributor

Re: Discover Card Charge-Off ... HELP

Who owns the debt? Be careful about paying old debt that might be in the hands of a collection agency. If they are, Discover isn't the one getting the money.
Message 2 of 5
JR_TX
Valued Contributor

Re: Discover Card Charge-Off ... HELP

More than likely your 5 yr old charged-off Disco acct has already been sold to a 3rd party (acquisition/collection) company. Know your state's statute of limitation as you're probably no longer legally liable to pay that off and be sued as a consequence. Morally... well that's a topic for another discussion. But know this, any payment you make to that debt no matter how small resets that SOL. So it's really your call. Only way to find out I guess is to app for a Disco card.
I IIB'd Disco in my BK7 and they took me back in 4 years after dc though with well established TLs already present on my CR. YMMV of course.
Good Luck!
New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 3 EQ 3 TU 4 | AAoA 7y10m | UTIL 1% - 4% | $300K+ Total Limits

Message 3 of 5
Anonymous
Not applicable

Re: Discover Card Charge-Off ... HELP

It just says discover owns it, its a closed account. No other company has pursued the debt with me. It just says closed account on my credit report.

 

 

Message 4 of 5
JR_TX
Valued Contributor

Re: Discover Card Charge-Off ... HELP


@Anonymous wrote:

It just says discover owns it, its a closed account. No other company has pursued the debt with me. It just says closed account on my credit report.

 

 


There really is only one way to find out... Apply. If approved then all's well no need to worry! If denied then they will cite you a reason for the denial. From there you'll know if you need to recon with them and maybe offer and negotiate to pay some/all your old charge off with them that is if they still own that debt.

Worst case scenario at least you'll know where you stand with them.

Good luck!

New cc TLs : 0/6 ; 0/12 ; 0/24 | HPs EX 3 EQ 3 TU 4 | AAoA 7y10m | UTIL 1% - 4% | $300K+ Total Limits

Message 5 of 5
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