Nordstrom Chargeoff

[AWill71i]

I had a Nordstrom credit card charged off in 2018. I want to know if anyone has had a charge off with Nordstrom and do they do pay for deletion or do they do settlements for a lesser amount?

[OmarGB9]

I don't have personal experience with Nordstrom, but generally no OC (original creditor) will PFD. Best thing to do is pay it and be done with it, even if you settle for less. As long as you get it paid, it'll stop updating, the utilization hit will go away, and your reports will slowly recover over time.

[W261w261]

You can probably settle for less with a CO, generally for somewhere between 40 and 70 cents on the dollar. You have to pay it in one chunk however, and I'd advise getting on it as soon as you can. A CO is a bad mark to be sure, and my understanding is the effect is both pronounced and long-lasting. Mine has a 2018 date on it from Cap1. Everything else about my profile is really good - AZE2, no lates, AAoA way up there, a few HP here and there. But I think I'm peaking at around 760 F8, maybe a little higher on F9. I saw a graph on this forum that showed the effect over time on a 30 day late, a 60 day etc and a CO. The others mostly went away after a few years, as I recall the CO still really hurt all the way to 7 years, for me that's 2025.