I have a repo that turned into a charge off (or vice versa) with capital one. I'm hoping someone here has some experience.
I want to offer them a payment plan that will end up being about 40% of the left over amount after they sold it at auction. I'm wondering if they'll accept a payment plan for less than original amount or if they'll only accept less than original amount in a lump sum?
Can I negotiate that contingent upon my new payment plan that they will remove all lates and change status to closed pays as agrees? What wording should I used when I write them and what key points should I include?
I'm hoping someone here can shed some light from experience. Thanks as always. This is the biggie on my report that's been staring straight back at me and I wana get a home in early 2014
