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Charged off account not showing as in collections..pay CA or original creditor?

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urbex
Established Member

Charged off account not showing as in collections..pay CA or original creditor?

About 4 years ago I had a Best Buy store card through Citi Bank go delinquent.  Long story short, I ended up with about $3,000 of fraudulent charges made in a store in South Carolina that Citi refused to remove as they believed I actually was in the store making the charges.  I sent them proof via work receipts and a letter from my employer that I was working in Arizona the entire time, but it did no good. 

 

I had the card set up with auto pay through my bank at the time to send them the minimum every month, which I didn't adjust for the then increased balance.  After several months of the payments now being short, they closed the account, placed in deliquent status, and eventually charged off.  It currently shows on my credit report as charged off, and that I've disputed it. 

 

Due to a wicked case of ADHD, I never stopped the auto pay, and have been sending them $50/month since.  About a year ago, I started getting letters from Radius Global Solutions showing a current balance of around $900, with an offer to settle for around $300.  I forgot to respond again and again...did I mention ADHD?  lol..got another yesterday showing a balance of $757 with a settle offer of $189 to be paid over 3 months. 

 

Now, I've read enough to know that settling for $X doesn't do much for the FICO scores, and ideally I'd want a PFD on this one.  While paying it off for $200 is better than $750, I'm in a solid enough financial position where even the $750 really wouldn't hurt much.  At this point, the collections does NOT show on my credit report (I check it religiously through Credit Karma), and I have current scores of 687TU/696EQ.  I know if a collections does show up at this point, that's gonna really hurt. 

 

So at this point, do I send Radius a PFD letter offering to send them a 1 time payment of the $200, or do I try to run through Citi first?  Is a PFD attempt even wise at this point, and I should just cut a check to Citi for the balance and move on?  It's not really the money I'm so much concerned about as it is avoiding a collections hit on my credit report...with a PFD being a nice bonus if possible.

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FireMedic1
Community Leader
Mega Contributor

Re: Charged off account not showing as in collections..pay CA or original creditor?


@urbex wrote:

About 4 years ago I had a Best Buy store card through Citi Bank go delinquent.  Long story short, I ended up with about $3,000 of fraudulent charges made in a store in South Carolina that Citi refused to remove as they believed I actually was in the store making the charges.  I sent them proof via work receipts and a letter from my employer that I was working in Arizona the entire time, but it did no good. 

 

I had the card set up with auto pay through my bank at the time to send them the minimum every month, which I didn't adjust for the then increased balance.  After several months of the payments now being short, they closed the account, placed in deliquent status, and eventually charged off.  It currently shows on my credit report as charged off, and that I've disputed it. 

 

Due to a wicked case of ADHD, I never stopped the auto pay, and have been sending them $50/month since.  About a year ago, I started getting letters from Radius Global Solutions showing a current balance of around $900, with an offer to settle for around $300.  I forgot to respond again and again...did I mention ADHD?  lol..got another yesterday showing a balance of $757 with a settle offer of $189 to be paid over 3 months. 

 

Now, I've read enough to know that settling for $X doesn't do much for the FICO scores, and ideally I'd want a PFD on this one.  While paying it off for $200 is better than $750, I'm in a solid enough financial position where even the $750 really wouldn't hurt much.  At this point, the collections does NOT show on my credit report (I check it religiously through Credit Karma), and I have current scores of 687TU/696EQ.  I know if a collections does show up at this point, that's gonna really hurt. 

 

So at this point, do I send Radius a PFD letter offering to send them a 1 time payment of the $200, or do I try to run through Citi first?  Is a PFD attempt even wise at this point, and I should just cut a check to Citi for the balance and move on?  It's not really the money I'm so much concerned about as it is avoiding a collections hit on my credit report...with a PFD being a nice bonus if possible.


Pay it and be done with it. CO's dont get deleted. Citi especially. Once settled no more monthly CO status affecting you. CK is Vantage scores. You can get free EQ FICO here and free EX FICO on their site.


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