jabberpoo Posted April 13, 2005 Report Share Posted April 13, 2005 What is the best way to pay off a Discover card that is closed with a balance of $3000? How can I do it and in the process fix my credit? I don't know if I should try to reach a settlement or pay it off month by month.... Link to comment Share on other sites More sharing options...
CreditDiva Posted April 13, 2005 Report Share Posted April 13, 2005 1. Check the SOL for your state, if it is already C/O2. If is is not expired, see if they will settle on less than $3000 bal, and only if you can obtain a pay for delete3. Otherwise, you are just setting yourself up for this to stay on your credit report for a long time, if you do the month by month it will keep the DOLA more recent Link to comment Share on other sites More sharing options...
codename_fortyseven Posted April 13, 2005 Report Share Posted April 13, 2005 I'd add that many companies have a hardship department, where you could negotiate a settlement, get any bogus fees and such waived, etc... Link to comment Share on other sites More sharing options...
kylemac Posted April 13, 2005 Report Share Posted April 13, 2005 Beware, however.... everytime I tried to negotiate a settlement, the company pulled my credit report -- which lowered my credit score.Sort of a pain.I have wasted countless dollars trying to have stuff removed by paying it off. In the end, I wish I would have simply DVed the companies. Maybe I could have settled and deleted it for a lower price. Link to comment Share on other sites More sharing options...
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