maax Posted June 29, 2003 Report Share Posted June 29, 2003 This is the best site...ever. Here's my newest dilemma:I currently have two charged off accounts with Providian Bank Credit Card. I have written letters asking for some kind of arrangement ~ I don't necessarily want to settle. I would rather just being paying again ~ I went through a six month rough spot (all other credit history great) and got behind on Providian and a Wells Fargo Financial installment. Anyway, I haven't received anything back but I can still log onto my accounts via the web and make payments if I want to. I'm thinking of just starting to pay them...they'll have to report payments to the CRA's right? Maybe with a good faith effort, they'd be more inclined to work with me? Here's the clincher: Two days ago, Arrow Financial Services (a CA) reported to Experian for one of my Providian accounts. I have never recieved anything in writing from Arrow, plus like I said, I could go to providian.com and make a payment on this account right now if I wanted to. This new listing lowered my Experian score 7 points and added $2000 to my "total outstanding debt" which is incorrect, since the charge account balance is effectively being counted twice. What should I do? Link to comment Share on other sites More sharing options...
sisflomi Posted June 29, 2003 Report Share Posted June 29, 2003 If you can catch up the past due payments, then I would go ahead and make them. Might be better to get a money order or cashier check and send it to them though. Wouldn't want them taking more out of your accounts than what you intend for them to take. I would send dv letter to arrow after you know your payment was accepted and cashed with providian. Link to comment Share on other sites More sharing options...
maax Posted June 29, 2003 Author Report Share Posted June 29, 2003 I think charged off means the entire balance is "past due" although my credit report reads this:$2000 written off$342 past due as of 11/2002I wonder if I pay the $342 that's being reported as past due, that would require Arrow to get its damaging entry off my credit report! What's worse, is the DOLA was 11/2002 and Arrow reported 6/2003. I'm screwed.Anyone? Yay or nay? I'm TOTALLY green & don't want to screw myself over by approaching this from the wrong angle...[Edit by maax on [TIME]1056927680[/TIME]] Link to comment Share on other sites More sharing options...
sisflomi Posted June 30, 2003 Report Share Posted June 30, 2003 You could always try and send in the past due and see what happens. Worse case, they send it back to you, or cash it and leave it as charge off. I would say if you call prov and talk to them, ask them about re-aging your account. What happens then is they kind of restart you, they drop the payment amount and knock off late fees and stuff. I don't know if being charged off that they can do that at this time. Have to call and find out. Link to comment Share on other sites More sharing options...
sisflomi Posted June 30, 2003 Report Share Posted June 30, 2003 Little bit of info for you, if you were to use debt management co, this is what prov would let happen. Maybe you can do this on your own. If so, negotiate the reporting to your credit reports too.Providian Nat'l BankPhone 800-356-0011Fax 925-225-1345Will reduce 4 points from current APR but not less than 9.9%, will stop late charges and reage with 1 payment 2% Balance or $30Send propls w/ budget. 800-964-6000WARNING: PAYMENT AMOUNT MUST BE MORE THAN FINANCE CHARGES. Link to comment Share on other sites More sharing options...
robotprom Posted June 30, 2003 Report Share Posted June 30, 2003 I had great success with Providian by bypassing the customer service drones and going straight to the executive level. I got them to settle for 50% and report it as "paid as agreed". I sent them a letter through PF requesting that they send me a settlement offer. A week later, I had a written offer, and negotiated it down from there. If they were all so easy. Link to comment Share on other sites More sharing options...
maax Posted June 30, 2003 Author Report Share Posted June 30, 2003 You are kidding? Really? Please, what was IN your letter? And how is it exactly that a person asks for a PAID AS AGREED? Just say, hey I'll pay the settlement if you change my credit rating? Is it really that easy? What if they say, no....what's your leverage then? Link to comment Share on other sites More sharing options...
robotprom Posted June 30, 2003 Report Share Posted June 30, 2003 i wrote them a letter more or less stating that the CAs have not responded to any of my inquiries for vaildation, and that I would like to settle this account. They called me, we went through back and forth, and i got it in writing. I chalk up getting the paid as agreed listing as someone's inexperience in the corporate level with dealing with COed accounts. But, I'm not complaining that I actually got it. the OCs have to ask themselves would they rather get some money and give me a paid as agreed listing, or not get any money and keep the charged off listing. They didn't agree to remove any of the late notations though. It's called negotiation, I have something they want (money), and that have something I want (getting the charge off off of my CR).here's the contact info for the corp. office:Michelle Brown, Customer Relations201 Mission StreetSan Francisco, CA 94105Tel: 800-239-4992Fax: 800-239-4260 Link to comment Share on other sites More sharing options...
maax Posted June 30, 2003 Author Report Share Posted June 30, 2003 Thanks for your help! Done Faxed a letter to Michelle moments ago & mailing the hard copy tomorrow. This will be my first negotiation. I'll keep you posted Link to comment Share on other sites More sharing options...
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