Just one baddie left!

[Anonymous]

Hello, 

I am a long time lurker here, and have slowly been rebuilding my credit thanks to all the help I have found here. I have just one account left to take care of. Its a Bank of America card I had in 2013, CL was 1500.00, current balance is 1745.00. BoA has sent an email offering to settle for 516.00.

Would it be benificial to me to pay the 516.00? If I did, would it still show negative on my report?

What should I do?

[Anonymous]

---

@Anonymous wrote:

Hello, 

I am a long time lurker here, and have slowly been rebuilding my credit thanks to all the help I have found here. I have just one account left to take care of. Its a Bank of America card I had in 2013, CL was 1500.00, current balance is 1745.00. BoA has sent an email offering to settle for 516.00.

Would it be benificial to me to pay the 516.00? If I did, would it still show negative on my report?

What should I do?

---

IMHO, yes, a paid settlement is better than a negative account that keeps affecting your scores and debt ratio every month.

The big question here is when is the DoFD? If DoFD was in 2013 & never went current, it will fall off in 2020, not too far into the future.

[gdale6]

If this is updating monthly I would take the settlement and stop its updating so it can age in Ficos eyes. With a DoFD in 2013 it doesnt have much time left to run as the max is 7.5 yrs from the DoFD. This is most likely past your states SOL as well but you should verify that it is before contacting them, this for your own knowledge. Welcome to the board

[Anonymous]

Thank you for the insight. I have called BoA to settle this. They want my checking and routing number to process the payment. Im hesitant to provide this information. Am I being too paranoid? 

[Remedios]

---

@Anonymous wrote:

Thank you for the insight. I have called BoA to settle this. They want my checking and routing number to process the payment. Im hesitant to provide this information. Am I being too paranoid? 

---

Maybe just a little. 

If you can get something in writing from them, that would be great.

In any case, you'll have to give them account info as they need to be able to take the payment. 

If you think that they will take additional payments, I really dont think that will happen. 

Maybe mailing cashier's check from your bank is another option you could ask them about. 

[DGOATS1]

They are a bank and won’t take more. If you are worried, Mail a check. But I would get the settlement offer in writing to be safe.

[simplegirl]

Thats what happen with me with discover but I would get it out the way and get a receipt afterwards.

[Anonymous]

Its stating to look like the email i received from assist@customerassist.bankofamerica.com is a scam. The phone number in the email (800.589.7951) sounds like a Bank of America phone number but I tried to settling the offer by calling the number found on the Bank of America website and they know of no such offer. And wanted to settle for ~$1000.00 or so I dont remember the exact number.

[Anonymous]

---

@Anonymous wrote:

Its stating to look like the email i received from assist@customerassist.bankofamerica.com is a scam. The phone number in the email (800.589.7951) sounds like a Bank of America phone number but I tried to settling the offer by calling the number found on the Bank of America website and they know of no such offer. And wanted to settle for ~$1000.00 or so I dont remember the exact number.

---

Looks like a scam to me. Never give your financial or private info over email, especially if they make first contact. Being in the insurance claims industry, it would blow your mind how often I’ve seen people get scammed by wire fraud.

Remember the old adage- if it sounds too good to be true, it probably is!