What a day! Rebuilding is a 2nd job!!! I have three credit card chargeoffs that are reporting balances, and today I contacted all three companies amd settled them. I was initially going to pay in full, but I decided to settle and goodwill them. Two of them are with outside collection agencies who are not reporting, and for that I am thankful. The OC for those accounts stated that I coild not negotiate with them and that I had to go thru the collection agencies.
Barclay on the other hand is still "in house" and they agreed to settle for 50%, which is a $102. They are mailing me a settlement letter, and Im thimking about negotiating a paid/closed status with them as opposed to "settled".
I was also approved for a Capital One secured card, and today I paid the $99 deposit,so my card should be here soon!
Student loans will be out of rehab soon too!
Things are looking up! :-)
Starting Score: 467 EQ 514 TU 583 EX 
Congrats!.....Thanks for sharing...
Way to go, nice job, your scores wil be soaring in no time 
Starting Score: TU 573 Exp 523 Lender Pull, Eq 583
@Amleigh wrote:What a day! Rebuilding is a 2nd job!!! I have three credit card chargeoffs that are reporting balances, and today I contacted all three companies amd settled them. I was initially going to pay in full, but I decided to settle and goodwill them. Two of them are with outside collection agencies who are not reporting, and for that I am thankful. The OC for those accounts stated that I coild not negotiate with them and that I had to go thru the collection agencies.
Barclay on the other hand is still "in house" and they agreed to settle for 50%, which is a $102. They are mailing me a settlement letter, and Im thimking about negotiating a paid/closed status with them as opposed to "settled".
I was also approved for a Capital One secured card, and today I paid the $99 deposit,so my card should be here soon!
Student loans will be out of rehab soon too!
Things are looking up! :-)
Glad you're headed down the right path. I was in your place a year ago and I am now starting to see a significant increase in my scores, all thanks to this forum. I used to be on Ebay most of the day once I got home... now I'm here doing more productive research while I watch TV
I'm just curious as to why you didn't negotiate PFDs prior to paying? Or am I missing something? At least for the 3rd collection thats reporting?
Thanks everyone, I really appreciate the encouragement! I wouldn't have been able to do it without the forums!
Hey Stonesy. They're charge offs, but the collection agencies aren't reporting on my credit reports. They're only working to collect on behalf of the creditors. The 3rd charge off, Barclay, said they are sending a settlement letter to confirm the arrangement, but I did consider sending a pfd or negotiate a better status such as "paid" or "closed" rather than "settled" since they said I had to mail in my payment.