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charge off with past due balance

Member

charge off with past due balance

I have a repo that is still within the SOL.  I would like to offer the OC a PFD but I need to have the full amount available before I call them for a worst case senario.  This is where I am confused, the account lists a balance of $2566 with a past due amount of $5465.  The past due amount increases every month. Should I have the $2566 which is ltsted on my TU reports as the original charge off or the increasing amount of the past due ($5465)?

Message 1 of 6
5 REPLIES
Established Contributor

Re: charge off with past due balance

Looks like they've added interest, late fees, etc. How much longer til you're past the SOL?
Message 2 of 6
Member

Re: charge off with past due balance

The SOL does not expire for another 7 years.

Message 3 of 6
Community Leader
Super Contributor

Re: charge off with past due balance

I'm in the same predicament. My sol ends December. Not going to wake that giant till after then.

Message 4 of 6
Established Contributor

Re: charge off with past due balance

It is kinda a poker game of sorts. The more money you offer the more likely they will accept a pfd. Best bet would be to research the company and see if others have had pfd success and see what amounts  were accepted.

Too many to list..
Message 5 of 6
Highlighted
Epic Contributor

Re: charge off with past due balance

It would be the larger amount.  Even though they only CO'd one amount, with all the fees and charges it has grown.

Message 6 of 6