loose tooth Posted April 10, 2007 Report Share Posted April 10, 2007 I geuss I am now trying to understand the cr. I know settlement is not good for it, but is a charge off worse? If I think I can get a settlement from a cc once it charges off and reaches the CA, is the damage of a charge off worth it? Link to comment Share on other sites More sharing options...
direred Posted April 10, 2007 Report Share Posted April 10, 2007 Both are showstoppers. Avoid both if you can. Link to comment Share on other sites More sharing options...
loose tooth Posted April 10, 2007 Author Report Share Posted April 10, 2007 I already have settlements on my report as of Jan 07. That or BK. So that said, is a charge off worse? Link to comment Share on other sites More sharing options...
AISLE4 Posted April 10, 2007 Report Share Posted April 10, 2007 I guess you're talking about your Cap1 account? A charge off will ding your reports, but it's not the end of the world. I know from chatting with you that your goal is to get rid of the debt. Cap1 is one of the most difficult to settle with before charge off. The best I have heard anyone do with them before charge off is 45%, and I'm sure that was a fistfight. Many folks say that it is easier to deal with the CA after the Cap1 account charges off. The CA will settle for 40% (at least that's what folks have said), but to get that deal you'll have to let the account charge off. Cap1 will not sell your account. If you can stomach letting the account charge off, you'd likely get the best deal. Link to comment Share on other sites More sharing options...
argento05 Posted April 17, 2007 Report Share Posted April 17, 2007 So, Cap 1 still has the account. Their CA is collecting. It's better/easier to negotiate with the CA?If Cap One still "owns" and reports the account then how can negotiating anything with the CA be beneficial since Cap One is unlikely to change anything with regard to the CR. It would be great to negotiate a PFD with the CA, but do they have any leverage with Cap One is the question. Link to comment Share on other sites More sharing options...
pinkeysas Posted April 17, 2007 Report Share Posted April 17, 2007 I had the same situation with crap one. It went into charge of status and I started getting letters from their CA collecting on the account.Before finding this site i paid a settlement to the CA and now after finding this site I have sent off a goodwill letter to Crapone asking for them to remove the negative TL from my CR's.Probably wont get any where but I thought it worth the .39 cents to try Link to comment Share on other sites More sharing options...
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