Hey guys,
Just need a little advice on an old account I have with Hooters Mastercard. I obtained this account in December 2005 and it was charged off for about a grand in July 2007. The account has never been sold and Merrick Bank updates about once every 6 months adding penalties and interest. Currently, it lists my balance at just over $1400. As explained, this card has been closed for well over 5 years. I have disputed but to no avail.
Yesterday, I received a settlement offer from TSI who is representing Merrick (dont believe theyve sold the acct). The initial offer was to pay 40% for settled in full. My question is, a.) Is this account affecting my utilization? and b.) Has anyone had success offering/countering with a PFD?
My game plan is to offer 25% for a settled in full or give them the option of 40% for entire deletion. Thoughts or comments are greatly appreciated
Just need a little advice on an old account I have with Hooters Mastercard. I obtained this account in December 2005 and it was charged off for about a grand in July 2007. The account has never been sold and Merrick Bank updates about once every 6 months adding penalties and interest. Currently, it lists my balance at just over $1400. As explained, this card has been closed for well over 5 years. I have disputed but to no avail.
Yesterday, I received a settlement offer from TSI who is representing Merrick (dont believe theyve sold the acct). The initial offer was to pay 40% for settled in full. My question is, a.) Is this account affecting my utilization? and b.) Has anyone had success offering/countering with a PFD?
My game plan is to offer 25% for a settled in full or give them the option of 40% for entire deletion. Thoughts or comments are greatly appreciated
It is affecting your utilization. You have a sound plan, however, I don't know if Merrick is friendly to deletions or not. Good luck!
Sounds like it may just be assigned. I would try the PFD route first, if they say no, take the settlement and try a GW.
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