topic Re: Credit Card issue in Credit Cards

Credit Card issue

Anonymous — Thu, 07 Jul 2011 23:17:08 GMT

A few years ago, I took a paycut from job, in returned this placed a struggle for me to pay current credit card bills. I was able to close 2 out 4 credit cards and pay the existing amount at a lower interest rate and an affordable monthly payment. The other two denied me this option to closed my credit card. One went to collections and I'm paying on it on a monthly payment. The other was charged off but it is still with the same company. So my questions are with the credit card that is still housed with the same company and did not go to collections.

1. If a credit card is charged off and you make a payments to the account regarding a payment plan, and they don't record the payments, how long should it take to fix it issue?

2. How would the credit card payment be reported to the credit agencies? If the company agreed to a payment plan, is it still considered charged off? There are options for payment plans to be recorded on credit reports (PP) ,

3. Can a credit card company that still house the credit card, but charged it off, do they have the ability to open the credit card,as an open status to receive the payments?

The problem I am facing is for almost a year it look as if I am avoiding the debt because payments are not being recorded. And the balance is not being reflected correctly.

I guess I'm wondering why they would close my credit card at my request, for me to pay the balance I know I owed, instead they charged it off as a lost with extra fees and interest. Did they have the right do deny my request?

Re: Credit Card issue

DI — Thu, 07 Jul 2011 23:57:01 GMT

@Anonymous wrote:
A few years ago, I took a paycut from job, in returned this placed a struggle for me to pay current credit card bills. I was able to close 2 out 4 credit cards and pay the existing amount at a lower interest rate and an affordable monthly payment. The other two denied me this option to closed my credit card. One went to collections and I'm paying on it on a monthly payment. The other was charged off but it is still with the same company. So my questions are with the credit card that is still housed with the same company and did not go to collections.
1. If a credit card is charged off and you make a payments to the account regarding a payment plan, and they don't record the payments, how long should it take to fix it issue? Elaborate more on your question
2. How would the credit card payment be reported to the credit agencies? If the company agreed to a payment plan, is it still considered charged off? There are options for payment plans to be recorded on credit reports (PP) , Even if you s-up payment arrangements with the creditor for a charged-off account it will remain charged-off. It will become a paid charge-off after you pay in full. You may can get them to delete the account. I doubt very seriously if they rehabilitate the account.
3. Can a credit card company that still house the credit card, but charged it off, do they have the ability to open the credit card,as an open status to receive the payments? They can collect payments while the card remains charged-off.
The problem I am facing is for almost a year it look as if I am avoiding the debt because payments are not being recorded. And the balance is not being reflected correctly. Do you have receipts?
I guess I'm wondering why they would close my credit card at my request, for me to pay the balance I know I owed, instead they charged it off as a lost with extra fees and interest. Did they have the right do deny my request? If you were 180 past due, the have the right to charge the account off.

Re: Credit Card issue

Anonymous — Fri, 08 Jul 2011 02:20:43 GMT

1. I agreed to a payment plan, and my payment doesn't reflect payments being made. And they have been trying to correct this issue since April.

3. I do have my receipts.

When I requested to close my account it was before my account was 180 delinquent. I made the request when I found out I was getting a pay cut.

What do you mean, "get them to delete the account"?

Do you think they can just reopen it but keep it at close status, so that I can continue to make my payments, so it doesn't look like I'm avoiding the debt.