Charge Off/Collection Pay off

[Kinglord]

Came into some money and want to settle some old debts, please advise...

Synchrony 1

Sold to local attorny, who filed a suit against me.  They offered me $3274 of of a $5000 Balance

Synchrony 2

Sold to Midland, its been removed from 2/3 bureaus, offering me $3200 off of $3789

Barclays

Collections offered me $976 off of $2440

Are these good deals?

[Anonymous]

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@Kinglord wrote:

Came into some money and want to settle some old debts, please advise...

Synchrony 1

Sold to local attorny, who filed a suit against me.  They offered me $3274 of of a $5000 Balance

Synchrony 2

Sold to Midland, its been removed from 2/3 bureaus, offering me $3200 off of $3789

Barclays

Collections offered me $976 off of $2440

Are these good deals?

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How old are these CAs? From original DoFD? The older they are, the more of a discount you are likely to get. The one that was going to sue you might be the best chance you have. Trust me, you don't want your wages garnished and have a whole slew of fees/lawyers charges added on if taken to court.

[Kinglord]

Everything went South about 2 years ago. Ready to move ahead...

[Anonymous]

As an aside, careful with Midland. Their second step is to retain a local atty and file suit. The plus is that they will remove from your credit report once paid in full (either settlement or truly PIF). Just my experience. 

[nmk94]

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@Kinglord wrote:

Came into some money and want to settle some old debts, please advise...

Synchrony 1

Sold to local attorny, who filed a suit against me.  They offered me $3274 of of a $5000 Balance

Synchrony 2

Sold to Midland, its been removed from 2/3 bureaus, offering me $3200 off of $3789

Barclays

Collections offered me $976 off of $2440

Are these good deals?

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Synchrony 1 - Get that squared away. As mentioned by others, you don't want a judgement as it then makes it a lot harder to settle for less. See if they'll go lower though.

Synchrony 2 - I'm surprised the discount Midland is offering you is so small. I had one account with them which I settled for less. 70% off. It was old but I believe they were offering me this discount for years before I finally took it. Again, see if they'll go lower.

Barclays - Take it. That's more than 50% off. Good deal.

[Kinglord]

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@nmk94 wrote:

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@Kinglord wrote:

Came into some money and want to settle some old debts, please advise...

Synchrony 1

Sold to local attorny, who filed a suit against me.  They offered me $3274 of of a $5000 Balance

Synchrony 2

Sold to Midland, its been removed from 2/3 bureaus, offering me $3200 off of $3789

Barclays

Collections offered me $976 off of $2440

Are these good deals?

---

Synchrony 1 - Get that squared away. As mentioned by others, you don't want a judgement as it then makes it a lot harder to settle for less. See if they'll go lower though.

Synchrony 2 - I'm surprised the discount Midland is offering you is so small. I had one account with them which I settled for less. 70% off. It was old but I believe they were offering me this discount for years before I finally took it. Again, see if they'll go lower.

Barclays - Take it. That's more than 50% off. Good deal.

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Synchrony 1 paid!

Synchrony 2 paid, got it down to $3000!

Barclays Paid!

What a great feeling. Next I am chipping away at all my open credit cards. Bringing them all down to zero except for one.