Trying to remove settled derog

[elkhunter]

I settled an account with my Citicard Union 76 gas card before I started reading these posts to know this was a very bad idea.  I was 30 days late and Citicards offered to remove interest charges of a couple hundred dollars if I agreed to pay off the card in full in 3 consecutive payments, which I did.  What I didn't realize at the time was that it would be listed on my credit report as "Settled for less than full amount."  Before I even made the third payment I contacted Citicards and asked if I could PAY THE INTEREST IN FULL in exchange for removal of this comment.  They refused!  I have sent numerous emails and letters and all have been rejected.  I could use some wisdom as to if there is anything else I can do.  Do they not want my money?  I don't understand what they have to gain by rejecting me.

[RobertEG]

I find your scenario a bit confusing.  If the account was only 30-days late and you paid the overdue balance, was the account restored to good-standing as a open account, or did the creditor close the account?  Payment for less than the full amount is an accurate yet discretionary special comment that applies to debt on closed accounts.  If the account was closed, then that reduces the expectation of good-will on their part to retain your future business.  If accurate, its removal would not be a basis for dispute.

Can you explain the account status prior to, at the time of, and after payment?

[elkhunter]

They did close the account.  I had been paying what seemed like interest only on this account for over a year and just wanted it paid off.  I called to inquire about the interest rate and that's when they offered to remove the interest and let me pay off in full in 3 months in exchange for closing the account.  My main focus has always been maintaining my credit rating.  I thought this would be a positive to have the account paid off.  After the first payment, the account was brought current but it wasn't until the third month that I realize they were going to label it as settled for less than full amount and they would not accept my offer to pay the $200 interest they removed. 

[Booner72]

Hi, elkhunter.  Did you get anything this year?

About your post.....IDk why they don't want your money, either.  But I don't think there is much you can do but keep trying different addresses and email addresses.  Check the address on your credit reports to see if it's the same as the one you've been writing to, etc.  Find all different addresses you can and write away.

Good Luck!!

[sharpie]

I could be very wrong here, but...

Couldn't you just pay the interest?  Don't "offer" to pay it, just pay it? 

Then if they don't automatically change the reporting you could just dispute it.