i am looking for some advice/assistantance on a closed credit card I have. It's a Sprint credit card through the Bank of Missouri. Long story short I was going through some rough times and couldn't make the payments and this was before I started seriously on my credit rebuild. They must have the smallest customer service dept known to man because in the beginning when they first closed the account, I called several times and had to leave messages because I wanted to ask them about a payment plan. I never received a response or a phone call back.
it's listed on my account as a charge off, and it's still with the bank of Missouri. I can't even remember the last time they have mailed me anything about it and they've never called about trying to get paid, but they clearly haven't forgotten because it still reports every month. The balance is $2,084.
what are the steps I should take with this card? Should I try sending a debt validation letter and hope they won't respond within the 30 days, or should I just contact them right away and see if they will do a pay for delete if I just pay it off in full?
(sorry if some of my information isn't correct, I'm not all too familiar with the different methods and laws, etc, but I did read online something about debt validation letters)
i wanted to come to this board first before listening to one of those credit groups on Facebook lol. If I can get it deleted without paying that would be my preferred choice of course, but is it worth it taking the time to see if they will validate the debt? Or should I just contact them right away and see if they will offer a pay for delete to get it over with so it will stop reporting negatively on my credit report ?
does anyone have any experience with the bank of Missouri !?
thank you !!
Debt validation would do you no good at this point. That's only for when they first send a dunning notice and you have 30 days to respond. That period would be long gone. If you send a DV now, they wouldn't be required to respond to it. Even if you had done it back during that 30 day period, it still wouldn't require them to respond. It would just place a cease collection bar on them until they did respond.
Being that it's still with the OC, it'll be extremely difficult to get them to agree to a PFD. But it's certainly worth a try. One way or another you're going to have to pay if you want the monthly updates to stop. The account may or may not end up getting deleted, however.
Has the Bank of Missouri/Sprint placed the account in collections or is it just updating as charged off? Could you pay the $2,084 this month?
I have some experience with the Bank of Missouri. They underwrite for a bunch of different cards.
I had two past cards with them and one present. The past ones are Total Visa and the other is First Access Visa. Total card charged off in September 2019, to this day I have not received a single piece of written correspondence from them. They have not updated my CO since 2019 either. I called to find out who has the account, and called the number they gave me who in turn told me they did not have my account ( I called as it is my only CO and I would like to settle it.)
Fast forward a couple of weeks to this past week, I had a missed call from Activate Financial. I called back, they initially told me they didn't have my account and then shifted me around for 20 minutes and said it was the Total Card. I was not quite sure how they came up with the number they did, and neither did they, although they offered to settle for 60% of that amount. They said they would begin. The validation process.
I'm waiting on the validation, if it appears to make any sense at all I'm going to try and settle for 40% or at least negotiate somewhere I between. I could get no call backs either. My credit report says Vervent/TBOM for both accounts. Activate is owned by Vervent I learned. As for my First Access Account. It did go delinquent. I caught up with it, it didn't charge off. They closed my account I still owed them $155 and they offered to reopen my account if I paid that balance on the phone for a fee. I decided to pay it off online (no fee), and leave the account closed. My score went up 8 points for it. They really suck to deal with.
I currently have an Aspire card with them 1k limit. It's in good standing, and I've had no issues. I owe them about $275 right now, I'll pay off this month and probably not use again. The AF is high, so when it comes due at the end of the year I'll probably let it go.
All around not great to deal with.
No it just shows as a charge off under them. It hasn't gone to collections in the two years that it's been sitting there with them unpaid . I could pay the balance off today, i just didn't know if it would be worth it to try and ask for a pay for delete