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Hi everyone. My DH has a charge off on his credit report. I am in the position to pay it. What is the best way to make this payment? Should I use a CC, my bank account, or debit card? I guess I'm a bit concerned to give them any financial information because I just don't trust CAs, in general.
Thanks for your help.
CC
Try to get any agreement in writing first, a while back I recall a CA almost cleaning my account, the agreement was lets say $200 but the original amount was $1000, they did multiple transactions until the got the $1000 back.
This was maybe 10 years ago or so tho.
The CA is Midland. I've read terrible things about them...that adds to my stress.
@AllZero wrote:
CC will offer protection.
Who is the collection agency?
Holy moly! That's terrible! Were you able to get any recourse? Did you try to file a dispute with your bank?
@siveriano wrote:Try to get any agreement in writing first, a while back I recall a CA almost cleaning my account, the agreement was lets say $200 but the original amount was $1000, they did multiple transactions until the got the $1000 back.
This was maybe 10 years ago or so tho.
Midland is a good one to have. They will accept payment and delete all traces of their entry on your reports once payment is made and as long as the debt is at least two years old. I sent a certified check to them to pay off an old chargeoff two years ago. That way they couldn't play any games if they wanted to (which I haven't seen any stories of them doing so), and I was able to follow up with my CU to find out the check was cashed. Once it was, within a month or so they deleted their entry from my reports. Personal opinion - be glad it's them who has the account.
Thank you, AllZero and ImTheDevil. That makes me feel much better. I love this forum! You guys are amazing. 🙂
@CreditChemistry wrote:Thank you, AllZero and ImTheDevil. That makes me feel much better. I love this forum! You guys are amazing. 🙂
Glad to be of service. Hope to read of your success if you report back.
My DW had 2 accounts with Midland we settled Jan 28th. Had an EFT scheduled straight out of her checking. Was a bit nerve racking but they took only what we agreed upon. No funny business 🤗