I had a charge-off from a CitiBank credit card in the amount of $3800. Basically, I didn't have enough money to make my payments back when I was in college. Unlike BofA (who I have paid off) and Chase, CitiBank basically refused to work with me. Well, I basically just accepted the charge-off and as it was getting older & I paid ALL of my other bills on time, my credit score was steadily improving. I just got approved for a Capital One card to really re-build my credit before I start law school. WELL....the charge-off has disappeared from all three of my credit reports & 2 weeks ago, I got a letter from a collection agency instead. The collection is not yet on my credit reports...what should I do? Should I call them and just settle it? Will they put it on my credit report whether I pay it or not? Will it show up as a charge-off or a collection account? I want to do what's right and I don't mind paying, I just want to know what my best option is in this situation. Thanks!
Barclay Visa Fin $1500 | Wal-Mart Discover $2000 | AmEx BCE $3000 | Target $3000 | Slate Visa $4800 | Hyatt Visa $5000
Last App: 3/16/2014 (Current FICO 740 per 4/07/14 Barclay FICO)