duck1098

Should I settle Macys or pay it in full? Which one has less impact and easier to GW?

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The thing here is that the store card is already charged off, so that being said, it can't be placed back on the satisfactory accounts status. That being said I would if I got the money call macys and try to settle it, since a paid in full or settled after CO would be pretty much the same. As always everything you do, do it in written if it ain't in written it never happened.

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@duck1098 and @admin - why would he not deal with the CA?  If he did deal with the OC, then he should negotiate with them that if he pays it in full, they should remove all the late payments on his CR - right?

@lionhunter - If you can pay the OC, then they should recall the account from the collection agency, and should be able to get the collection removed.  

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Macy's does in fact use the Northland group.

I paid in full for an old account (It was under 400.00) and they stopped reporting on my credit report.

Didnt do anything, Just disappeared. Not saying the same would happen to you, But you can just settle, They offered me half, Macy's does not sell the debt, just has a company that helps them collect.

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Macy's does in fact use the Northland group.

I paid in full for an old account (It was under 400.00) and they stopped reporting on my credit report.

Didnt do anything, Just disappeared. Not saying the same would happen to you, But you can just settle, They offered me half, Macy's does not sell the debt, just has a company that helps them collect.

 

So the actual Macys trade line went away or was the collection agency reporting it then deleted? I settled it but now I regret not paying in full. maybe I'll call and pay the remaining and hope for similar luck as you.

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@duck1098 - if you need an example of a GW letter - here is one - http://www.creditinfocenter.com/forms/sampleletter8.shtml

 

Let us know how this turns out for you.

Well, today my Equifax alert showed 20 points drop in my score. Only thing different is Macys is showing the settlement as a "payment" and leaving me with a balance. I wonder if the collecter screwed me or if its just a mistake. Either way I should've asked for something in writing or at least recorded the conversation. I think this will reset the SOL if I cant prove it was a settlement. Haven't called them yet but I might look into charging it back. Will update.

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@duck1098

 

 

Well, today my Equifax alert showed 20 points drop in my score. Only thing different is Macys is showing the settlement as a "payment" and leaving me with a balance. I wonder if the collecter screwed me or if its just a mistake. Either way I should've asked for something in writing or at least recorded the conversation. I think this will reset the SOL if I cant prove it was a settlement. Haven't called them yet but I might look into charging it back. Will update.

If you didn't get it in writing, it didn't happen.  

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I have a question I had a Macys card and it got discharged under a chapter 7. That was many years ago, so I got a part time job with Macy's and opted for the prepaid employee card for the discounts. I have used it twice and put money into it. The other night I put money into the card the sales associate made a mistake and I believed put money into the old card that it was discharged. Then all hell broke lose, they made me call  Macys with a reference number so at the other end of the line they started to asked questions like what car did I used or have ever use? my height in my driver license and I ask why all the questions and why it was recorded and then she told me that she couldn't tell me why and to wait to get the letter in the mail. in the meantime the other employee the one that took and deposited the money in the card freaks out and call my manager in the floor. Then they tell him in the phone that I owed Macys money and the amount. I have never been so embarrassed as I did right then I have suffered for the decision of taking the chapter 7allready. From anxiety attacks to severe depression. I'm a new employee and I asked him  if what he heard( from the phone call) will be grounds for termination and he said no. The next day I apologize to the same manager and he said not to worry and that whomever he talked in the phone shouldn't had told him about the amount that it was owed( even though it was discharged)it was.against he company privacy policy. Today I got a phone call with no one in the other end and did  a research and it was Macy's . So should I be worry about my job? I'm in a position of trust and I have no criminal history at all.

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@Madwoman123 - that is just terrible!!!!  wow.  My advice would be to talk to your HR person.  That way, you will have a conversation with someone who knows the company's policies regarding this type of issue.  I can't imagine anything will come of it, but it is best to talk to someone and know for sure.

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