Hi all! New poster here. Unfortunately lost my job back in 2015 and saw my earnings reduced about 90%. Had a hard time paying my creditors. Back on my feet now and looking to do what I can for my pretty abysmal credit situation.
I had a car loan and two credit cards with USAA. My vehicle was repossessed in December of 2015 and both my cards were charged off in early 2016.
Balance on the car loan after sale is about $9,900 and I had two CC’s with a combined balance of $4000.
USAA still owns the accounts and reports monthly the status of all 3. The CC’s are reported as a charge off and the car loan refreshes monthly as a repossession. All show the balances due.
Does anyone have any experience with USAA and charge offs? Are they prone to file suit? I am in a position to offer a settlement if that would avoid the possibility of a lawsuit. I’d also like to stop the monthly bleed from the fresh reporting monthly.
The charge offs and repossession happened while I lived in PA which has a 4 year statute of limitations. I have since moved to West Virginia which has a 10 year statute! I haven’t been able to find anything definitive online about the borrowing statute for WV. Either way these are all within the statute of limitations.
Not sure if I should just try to wait it out or offer a settlement to stave off the possibility of a future lawsuit.
Thanks all for your help!
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