Should I settle?

[Anonymous]

I have a USAA credit card account opened in OCT 2010, with a balance of $9489,.last activity MAR 2013, condition is open (which is what's really worrying me), status is charge-off (not sure how it can be open and charge-off). The account is still reporting a +90 day late each month to all three credit bureaus. What is my best course of action? I can not PIF but I can offer a 30% settlement.

[Momof5]

Not sure how likely USAA is on paying off a CO that is only about 2 yrs old.

My brother had a CO years ago and he didn't settle, but made payment arrangements.  Ultimately, the account aged off and my brother got another CC with USAA.  His card had far more years past CO than yours did.  YMMV.

[Anonymous]

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@Momof5 wrote:

Not sure how likely USAA is on paying off a CO that is only about 2 yrs old.

My brother had a CO years ago and he didn't settle, but made payment arrangements.  Ultimately, the account aged off and my brother got another CC with USAA.  His card had far more years past CO than yours did.  YMMV.

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They actually sent me a settlement letter some time ago. Unfortunetly I didn't have the knowledge I do now and I just pitched it. I remember thier offer was somewhere in the low 3k range.