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Merrick Bank wants me to settle. Help Admin and others


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After disputing them all year the CRA's have triggered Merrick bank to respond to my dispute. Merrick has charged off an account two years ago. The debt was $330.00 and this account was bought from NextCard. However, I am disputing the amounts and now I have a settlement from Merrick. Give us $113.00 and we will report account as "settled"

Isn't "settled" worse than charge off? Doesn't it reage the account for another seven years?

What should I negotiate?

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After disputing them all year the CRA's have triggered Merrick bank to respond to my dispute. Merrick has charged off an account two years ago. The debt was $330.00 and this account was bought from NextCard. However, I am disputing the amounts and now I have a settlement from Merrick. Give us $113.00 and we will report account as "settled"

Isn't "settled" worse than charge off? Doesn't it reage the account for another seven years?

What should I negotiate?

IMHO

Negoiate for deletion, even if you have to pay 333.00

You will easily save 330-113 = $217 dollars in interest for any type of new credit you recieve within the next 7 years. Actually, depending on your situation you will probably save possibly tens of thousands of dollars if you need a mortgage within next 7 years.

Bottom line, Get it off your report. Continue negoiation.

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