Help with Suncoast CU

[jl1234]

Hi, this is my first post and have been working on rebuilding my credit. This forum has been amazing and everyone is so helpful... So.. long story short, I wasn't working for over a year and messed up my accounts with Suncoast CU. I had a good history with them prior to that year. I am not sure about how to approach this one because I am not able to PIF on the credit card (I could make payments). The accounts are still within the SOL and they are both charged-off. I really liked Suncoast and would like to fix this but with the credit card as high as it is, not sure what is best to do. Any advice?? 

Checking account in Negative on CR $169 - Dofd 12/1/15 (still being reported monthly)

Credit card $3238 - Dofd 6/1/2015

Thanks! 

[RobertEG]

If they have already charged-off the debt, then the next step is often to either assign collection authority to a debt collector or to sell the debt and recover a bit more of the expected total loss.

In either event, that could result in the addition of a collection to your credit report, doing further damage.

Additionally, if they sell the bad debt, you will lose any ability to negotiate any terms with the creditor.

I would advise contacting the creditor and attempting to negotiate a payment plan  with the proviso that as long as you continue to meet the provisions of that plan, they will discontinue reporting of further derogs and any referral to a debt collector.

[jl1234]

I was thinking about doing that. Also because it's a credit union would it be better to go there in person or attempt to negotiate over the phone?

[Anonymous]

I would suggest not going in person but maybe others have had luck that method. I would suggest letters by mail, email, or phone talk (many people suggest mail for proof of communication is best). I say this because I was in a same boat with GTE FCU a year ago. Went inside the bank and they basically laughed in my face and told me there was nothing they could do. Best of luck to you!

[jl1234]

Thanks for letting me know that. I have read that mail is usually recommended just wasn't sure if with a credit union in person would be better. I def won't do that now. I didn't have any luck over the phone with them when I wasn't working and tried to fix the problem before it became a problem so not really sure how I should contact them, especially if I don't know if they own the debt or if it has been sold to a CA... Thanks for the input I really appreciate it!