cancel
Showing results for 
Search instead for 
Did you mean: 

How to handle Citi C/O still reporting a balance and past the SOL?

tag
Anonymous
Not applicable

How to handle Citi C/O still reporting a balance and past the SOL?

My DW has a CitiBank CO that with DofFD of 12/2010. The SOL in TX is 4 years, so that has past.

 

They report a past due balance monthly with a UTL of 300% or so.  It's been a CO since June of 2011 according to CRAs.  What is a good offer to make to try to get this off of her credit report?  I am trying to help her clean up her credit after having pretty good luck cleaning up my own.

 

Any help would be great.

Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: How to handle Citi C/O still reporting a balance and past the SOL?

Since they are reporting monthly you can assume they know that impacting her credit score is the best way to receive payment.

Even though you are past your state's sol, I don't believe they will pfd without full payment. But it doesn't hurt to try. I would start at 50%. But be prepared to pay full.

They could also report the debt as disputed.
Message 2 of 3
RobertEG
Legendary Contributor

Re: How to handle Citi C/O still reporting a balance and past the SOL?

Personally, I would offer as high an amount as you can afford.

It is common for creditors to sell charged-off debt in order to recoup a bit more of their expected total loss.

That will result in the ability of a debt collector to then report a collection, further damaging credit score and removing the opportunity to offer any PFD to thte creditor.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.