@Feedmedonuts wrote:Hello all, I've had a charge off with Citibank from 2017 and they've never sold it to a collection company. Its been dinging my credit as CO every month reporting a balance of 3,000 since 2017. I'm currently disputing it for inaccuracies I found, I'm disputing it with the CFPB and bureaus. Any tips ? Should I leverage the COVID 19 in a goodwill for a pay for delete. I was 19 when I got the credit card and ignorant to financial literacy, definitely learned my lesson.
Is the debt valid? If yes, why are you disputing it?
If no, insuffiecient data to advise course of action.
When you can, pay the debt in full or agree on a settlement with CITI!
@Jnbmom wrote:
@Feedmedonuts wrote:Hello all, I've had a charge off with Citibank from 2017 and they've never sold it to a collection company. Its been dinging my credit as CO every month reporting a balance of 3,000 since 2017. I'm currently disputing it for inaccuracies I found, I'm disputing it with the CFPB and bureaus. Any tips ? Should I leverage the COVID 19 in a goodwill for a pay for delete. I was 19 when I got the credit card and ignorant to financial literacy, definitely learned my lesson.
If the debt is valid then there is nothing to dispute. Leverage COVID, that had nothing to do with this debt from 2017...............................
This. And claiming financial ignorance is not on them. When you're of legal age to enter a binding contract and you choose to do so, it's your imperative to educate yourself on the details. There's no wiggling out on a technicality. Gotta suck it up and pay it, take the lumps, and eat it as a hard lesson learned unfortunately.
You just disputed this account and they send disputes to citibank so I don't see them honoring a PFD or goodwill for exchange for payment. Also what is the SOL in your state? Because if you are still within it they can just sue you so i would handle it ASAP.
Starting Score: 494 503 521
Even if there are inaccuracies, they would just correct them, but the TL would remain. And being that they're the OC, there's no way they'd PFD. I'd just pay them in full if you can or settle and move on. This way the account is taken care of and your score can recover some since they'll stop updating and the utilization hit drop from the CO will also help your scores.
Def do not dispute if it's accurate, I'd advise just bit the bullet, call up the OC and see if they are willing to settle for less than the full amount. You dont want to wait too long because this account can be sent to a CA at any time, tracking up your report even further...
@Feedmedonuts wrote:Hello all, I've had a charge off with Citibank from 2017 and they've never sold it to a collection company. Its been dinging my credit as CO every month reporting a balance of 3,000 since 2017. I'm currently disputing it for inaccuracies I found, I'm disputing it with the CFPB and bureaus. Any tips ? Should I leverage the COVID 19 in a goodwill for a pay for delete. I was 19 when I got the credit card and ignorant to financial literacy, definitely learned my lesson.
Don't dispute... that causes the status to update and make it look like a fresh CO causing your scores to drop.
Try to negotiate a payment before they 1099 you (which is likely to be soon. Make it go away or you will continue to feel the pain until 2024.
I have a synchrony CO and tried to resolve... they wouldn't take my money. Disputed to CFPB and CRAs and status updated and caused 30-50 points on EQ and EX.
Had another CO that I was able to pay and got a 20 point boost even though it is still showing as a CO.
Don't poke the bear with disputes... the bear will win! I know of what I speak!
