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Negotiate or Not?


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Hi, I'm newbie posting, but I been around here reading and learning for a while already.

I'm a little confused about how to handle this, I received a letter from World Financial Network National Bank, this is for an old Express CC.

WFNNB says that during a review of my EXPRESS account reflects a balance of $107.65 that remains past due. This balance is currently being reported to the credit bureaus as an unpaid charge off.

They are offering to settle for 50% or $53.83 to resolve this matter. They also say that uon receipt of the settlement amount, the remaining balance will be credited and my account will be reported to the CB as a paid charge off.

But I have read here that "paid charge off" is as bad as "uppaid charge off".

My question is this:

should I negotiate pay for delete, pays as agreed, or paid?

Or just pay them. and put this to rest.

Thanks in advance for your help.


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Should I offer to pay the full amount I owe,

thats the $107.65 for complete deletion of the TL.

Is this the correct letter I should send??


Your Name


City, State, Zip

Name of CA


City, St. Zip

RE: Account Number:XXXXXXXX

To Whom It May Concern:

I am willing to pay your company the full amount of $xxx (xxxxxxx) as payment in full for the satisfaction of this account. Upon receipt of payment, I ask that you agree to remove this account from my credit reports (Experian, TransUnion, Equifax) or change the status of my account from Charge off to Pays As Agreed.

Furthermore, I ask that you also agree, that once paid in full, this account is not to be resold/transferred to any collection agency.

If you concur with these terms, please acknowledge with your signature and return a copy of this letter to me within fifteen (15) days of receipt of this letter. No payment will be made without written confirmation. Any and all correspondence to me is to be sent to the address noted in this letter.

Upon receipt of this signed acknowledgment, I will immediately mail you the full amountof $xxxxx (xxx) that is owed on this account in the form of a money order by certified mail via USPS. Once you have received my payment, please send me a letter that states to the effect that this outstanding collection account has been settled and paid in full.

Name of CA:

Authorized Signature:



Your Name.

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Your letter is just lovely. It's chances of achieving what you desire are less appealing.

It doesn't take much imagination to figure out why a national creditor will not do a PFD or change derog status to positive status. Very soon after doing so they open themselves up to class action lawsuits...See the scene in your mind: Someone will contend they did more PFD's for men than women, for natives than immigrants, for blue-eyed people than brown...

They also run the risk of alienating the CRA's, who they run hand in hand with through fields of financial clover. Okay, I'm going off on a tangent, {it's 9:00 in the morning}

What are your goals? What is your timeframe? When was the unpaid CO last reported (updated)? THAT is what impacts your score. THAT is why paying off a derog doesn't help and may hurt your score (it makes the account appear more recent to scoring programs which deduct heavily for recent activity).

I don't want to discourage you from acting. Who knows, you just may be the one in a million lucky one who obtains a PFD or change in status. But, I'd rather have your feet on the ground with a solid backup plan. Good luck!

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