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Discover Card Charge-Off ... HELP

New Member

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
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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
Frequent 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!
In the garden 'til 02/2018
Rebuilding since BK7 dc in 01/2011 with FICO8 in the 500s
12/01/17 Fico8 EX 752 EQ 752 TU 701
INQs EX 5 EQ 5 TU 3

Penfed TR Amex $10K | C1 QS $12K | Discover it $7.8K | Discover More (AU) $11.7K | Marvel MC $8K | Barclay Financing Visa $7.2K | BoA CR $2.5K | Blispay $3K | Citi BB Visa (AU) $8K | WalMart $6K
Message 3 of 5
New Member

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
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Frequent Contributor

Re: Discover Card Charge-Off ... HELP


kimmykee 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!

In the garden 'til 02/2018
Rebuilding since BK7 dc in 01/2011 with FICO8 in the 500s
12/01/17 Fico8 EX 752 EQ 752 TU 701
INQs EX 5 EQ 5 TU 3

Penfed TR Amex $10K | C1 QS $12K | Discover it $7.8K | Discover More (AU) $11.7K | Marvel MC $8K | Barclay Financing Visa $7.2K | BoA CR $2.5K | Blispay $3K | Citi BB Visa (AU) $8K | WalMart $6K
Message 5 of 5