Help To let charge off or keep? d

[cbrightwell73]

Ok Ive looked everywhere for a similar situation nothing popping up so... if someone has some advice to lend I am all hears.. I was at a great rebuilding stage about a year and 4 months ago, still have hope. Opened a couple of secured lines of credit Discover it 2500 and Regions secured line of credit 5k, had three immediate family deaths and it drained me emotionally and financially (wasnt interested in much of anything) at any rate, I assumed (smh) that the 5K i put into a savings account covered the regions loc, and it was closed, was i wrong they partially applied 2+k to it as offset and applied the rest to something im not sure what just yet but im researching that as well, and made it an unsecured loan, that i cannot ever use but just pay down, Its 90 days past due now and I am wondering if I should keep it of let it C/O? I guess im wondering if that amount being reduced from revolving debt would be more helpful or should i just bring it current and go from there? All advice welcome! Thanks

[shifter]

first, you need to contact them and find out what happened with your 5k.

 

of course you should not let it CO if you can help it.

 

contact them, find out about your 5k and then try to work something out to get caught up.

[Tyra]

I'd contact Regions and find out the details of what happened. Tell them you didn't understand how the secured feature worked and ask them to explain where your funds currently are at and if there is a way they can delete some of the lates on your report since you misunderstood how it all worked and thought the deposit would cover what was owed without any lates on your report. It's worth a shot.

[cbrightwell73]

Thx for reply ... Im on locating that everyday now ... its picking teeth their own collections department cant figure it out .. they only see off set payments withdrawn every 90 days in weird amounts since January, I can cover payments now but it was just so darn weird. It reports as 5k high with the 3k balance now under my revolves. I was afraid to pay because i wanted to know where the heck the rest of the money went.#>?j

[cbrightwell73]

That’s a good idea as for the lates didn’t think about that one.. Thanks