Moderator Emeritus
Posts: 32,880
Registered: ‎08-04-2007
Re: Auto Loan after 2 Charge Offs that are 3 years old. 607 FICO

bmartinta wrote:

Should I just ante up and PIF with the Collection Agencies and just move forward? I have plenty of savings to pay these off. What if I got a secured VISA and used the VISA to pay the accounts off and then use my savings to pay off the VISA balance? Or just pay off the accounts and then use my seccured card till tax return comes and try then.

Ignore the CAs. For as long as the OC still reports a balance, then all communication, payments, etc., need to go to the OC. I'd PIF with CapOne directly.


I don't know if they'll take Visa to pay the Visa/MC. Sometimes they'll push fast payments via Western Union and places like that. I know you can use a CC there in many cases. I'd only consider a secured CC if I needed a CC for mix. Do you have any open CCs now? If not, maybe it'll be beneficial, but I certainly wouldn't use your new card to pay off a debt. No need for the high util. I'd use your savings.