Question, I recently settled 2 CO accounts in late July:
Cap 1 Venture Balance 5,000 Settlement was 2500
Disco Balance 2500 Settlement was 1500
Fast forward a month later. Both balances are now showing the payment made on all 3 CR's but reflecting the left over unpaid balance. It's also still reporting negatively as a CO. To my understanding, I thought they would show zero balance and stop reporting monthly with a remark of "paid for less than balance." Mind you, it's only been a month. Will the balances eventually update to zero?
Also what are the odds Cap 1 Venture allows me back in? I have 2 other cap1 cards with flawless payment history. How about Disco, are they forgiving after a settlement?
They will $0 out probably on the next update. The CO status wont go away. It will say charged off settled for less than owed until the DoFD. Depends how old the CO is for Cap1 and Disco. Things are tight right now. Enjoy what you accomplished and still have positive accounts for now. Congrats on the payoffs.
