First Data Corporation Charge-off

[Anonymous]

my wife has a Chage-off from First Data Corporation in the amount of 1600 dollars, she changed banks and long story short she was in a contract, and now owes 1600. i dont really know the difference between a charge-off and a collection. can anyone explain? and do they do a PFD? this account is from 2012 so it is still fairly new. any insight would be appreciated.

[gdale6]

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@Anonymous wrote:

my wife has a Chage-off from First Data Corporation in the amount of 1600 dollars, she changed banks and long story short she was in a contract, and now owes 1600. i dont really know the difference between a charge-off and a collection. can anyone explain? and do they do a PFD? this account is from 2012 so it is still fairly new. any insight would be appreciated.

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A charge off is an accounting move made by an OC to write the debt off against profit and loss. A collection is when the OC sends it out to an outside business to collect the money from you. You can attempt a PFD with an OC & a CA. I just would not contact them unless you actually have the funds to pay them in full pretty quickly since its still inside states SOL.

[Anonymous]

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@gdale6 wrote:

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@Anonymous wrote:

my wife has a Chage-off from First Data Corporation in the amount of 1600 dollars, she changed banks and long story short she was in a contract, and now owes 1600. i dont really know the difference between a charge-off and a collection. can anyone explain? and do they do a PFD? this account is from 2012 so it is still fairly new. any insight would be appreciated.

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A charge off is an accounting move made by an OC to write the debt off against profit and loss. A collection is when the OC sends it out to an outside business to collect the money from you. You can attempt a PFD with an OC & a CA. I just would not contact them unless you actually have the funds to pay them in full pretty quickly since its still inside states SOL.

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but it is still possible to do a pfd with them i assume? i just didnt find much about this company on google except that a lot of people were unhappy with their service. i coulndt find anyone saying that they paid them and they deleted from their report.

[Anonymous]

The actual name of the company is First Data Merchant Services, we have sent them a PFD for a full amount, hoping that they will delete the entire TL from her reports. I cant find anything on the internet about anyone having any success with them doing a PFD. anyone here familure with them?

[Anonymous]

Did you have any lich with them? I was going great and changed bank accounts and this same thing happened to me with a business I once owned. I rally need this completely removed or at least the lates. Its a charge off now and a collection agency called me which is how I knew. 

[Anonymous]

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@Anonymous wrote:

Did you have any lich with them? I was going great and changed bank accounts and this same thing happened to me with a business I once owned. I rally need this completely removed or at least the lates. Its a charge off now and a collection agency called me which is how I knew. 

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Not sure if I was lucky or what, but yes we paid the full amount and they removed it.