Paying off a charge off.. PFD?

Anonymous — Mon, 25 Feb 2008 13:33:49 GMT

Here's a little background..

I have a Bank of America credit card account that was charged off in 2004. Not long after that, I had resumed making payments on the account through a credit counseling service I joined. Just a few months ago, the acct. was sold to a CA (NCO) because BoA apparently wasn't happy with the amount of my monthly payment.

I was fortunately able to get BoA to pull the acct. out of collections after sending an email to an address for their "National Customer Service" exec. that I had come across. I was contacted by someone a few days later by phone, and they agreed to pull the acct. back. I resumed making payments to them (at an increased amount) and they seemed happy with that.

Now, my question to you knowledgeable folks here is: could I/should I contact BoA and ask for a PFD? I imagine there is no harm in trying, right? One of my concerns is that, since I have been making monthly payments, would they be less willing to do a paid-in-full PFD - since they already are getting money from me?

Also, since I have a contact with them, would it be a good idea to contact them somewhat informally about a PFD, or would it still be wiser to snail mail a formal letter?

I think there is some incentive for them to accept a PFD. They aren't charging interest on the balance, so it isn't like they would be making money on my payments. The balance is around $1800, and I would love to just send them a check and have that nasty CO wiped away from my CR.

I appreciate any insight or advice you can provide. Thanks!

Re: Paying off a charge off.. PFD?

Anonymous — Mon, 25 Feb 2008 15:33:25 GMT

I'd suggest talking to the person whom you got to pull the account back and let you resume payments. Even if they verbally agree, make sure to get it in writing.

Re: Paying off a charge off.. PFD?

Anonymous — Mon, 25 Feb 2008 20:17:41 GMT

that's what i was leaning towards doing. the person i dealt with previously was really nice, so i feel i'll have a decent shot.

if not, i will try to send a letter.

thanks for the reply

topic Re: Paying off a charge off.. PFD? in General Credit Topics

Paying off a charge off.. PFD?

Re: Paying off a charge off.. PFD?

Re: Paying off a charge off.. PFD?