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I have a CO showing balance of ~1800 dollars. DOFD was 6.5 years ago. Im not within SOL . I want to try to negotiate this down to about 500 dollars. I hear the lowest they will go is ~50% of the balance. However , I think calling them gives a better chance of futher negotiatons. I just want to make sure if we dont come to an agreement, i dont restart the SOL, so what should I not say to them?
Im going to offer the money for a delete of the TL. (im not optimistic on this one) . If this fails , what are the best terms for settling with it still showing on my report?
Tell them you do not acknowledge the debt as yours.
@cqdealer711 wrote:
Im going to offer the money for a delete of the TL. (im not optimistic on this one) . If this fails , what are the best terms for settling with it still showing on my report?
Thanks guiness
and this one?
No matter what you do it will still be scored the same by FICO. Settled for less than full amount will not look good on a manual review.
is it possible for them to remove the charge-off status? That would help , wouldn't it??
If they could but Cap 1 is a hard nut to crack. Not very forgiving.