JoeSchmoe Posted June 4, 2003 Report Share Posted June 4, 2003 Ok yall, I just got a fresh collection letter from Orchard Bank via CA. I got this card more then a year ago and stopped paying during my hard times, but now it's $1000 owed, but my credit limit was only $300 and I only charged like $284 on it (maybe those insane late fees and interest rates).Anyway, is there a way to get them to let me pay on condition of them giving me my account back with a $2,000 or $1,000 credit?I know it sounds dumb, but I've seen so many tricks people do with letters to CA, so I thought it was possible.I currently don't have a credit card and this was the last one I had and based on the late fees, I know the $1000 is valid, but I have the money to pay it now and I'd be willing to pay it off to get my card back with a higher credit limit.Any suggestions? Link to comment Share on other sites More sharing options...
md Posted June 4, 2003 Report Share Posted June 4, 2003 I highly doubt it. You showed them (through no fault of your own quite possibly) that the $300 limit was too much for you to handle. I can't see them turning around on a delinquent account, opening it up again, and increasing your credit limit by 3-7 times what it was originally. Link to comment Share on other sites More sharing options...
JoeSchmoe Posted June 4, 2003 Author Report Share Posted June 4, 2003 Well just thought I'd ask....oh well. Link to comment Share on other sites More sharing options...
Johnnyc Posted June 4, 2003 Report Share Posted June 4, 2003 If youre dealing with the CA, nope.If youre negotiating with the OC (household), possibly but then youd have to cough up what they are asking for which you said was 1000 bucks on a 300 debt in addition to the condition that they get rid of the chargeoff TL which should be your numero uno goal when settling. Personally, I would clean up your reports and apply somewhere else. That orchard card is hardly worth a 1000 bucks. Link to comment Share on other sites More sharing options...
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