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Questions on Merrick charge off


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I am one of those who had an old Nextcard account that was sold to Merrick when Nextcard went under. I was up to date with Nextcard but stopped paying as soon as it went to Merrick because of financial problems. Eventually they charged it off but did not send it to a CA. I agreed to make $50 payments with no interest or late charges or other fees until it was paid off. I have been faithful in doing that. I agreed to an automatic draft from my checking.

In November, 2007, they sent me an offer to settle the balance for 50%. This was a savings of about $1,000. I do not have the money so I could not do it. I was given until Dec 15 to make the payment.

Now the question. They did not take out the automatic payment in either December or January. I am inteerested in hearing from anyone who may have had this happen to them. Does this mean they are giving up on me and will now sell it to a CA? Does it just mean that they are going away for good? Or something else?

My credit is in the crapper. I was tempted to call them and ask them to keep the offer open a little longer until I could get the money together, but then I thought why do that if they have just walked away from it? They refuse to a PFD, so paying it off really does me no good except to finally get this behind me. But, if they are going to send it to a CA, then that would be just one more black mark on my credit report and one more problem to deal with.

Does anyone have any words of wisdom on Merrick? I realize this is a blast from the past because Nextcard went under a long time ago.

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