Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


Sign in to follow this  

Pay for delete - Charge off didn't work

Recommended Posts

Car got totaled in Feb 2019, I was was making payments on the balance that the insurance didn't cover to Cap 1 . 180 Days past and they wrote it off as a charge off. I called twice and offered pay for delete and they said no. I have no problem paying the whole thing; it's $3,100. But that won't help my score much since it's still a charge off.

 

I am wondering if to pay it off, and then dispute the balance / charge off with the cra's. What are your thoughts? I looked around Why Chat's and other references but only saw items on "old charge offs". Other than this my credit is fine :( .

 

tks

Share this post


Link to post
Share on other sites

why was it charged off if you were making payments?

 

a PFD is extremely unlikely for a within SOL debt with the OC. You're correct that a paid charge off is just as bad for scoring as unpaid BUT by paying you may preclude being sued which some people would consider a good thing.

Share this post


Link to post
Share on other sites

Sounds like something where you ought to have your insurance carrier's attorney speaking with the lender.  This is a collateral consequence of a policy claim and, as such, a DECENT insurance carrier SHOULD step up and try to intervene.  Hopefully you don't have one of the substandard carriers like Flo or the gecko...

Share this post


Link to post
Share on other sites
2 hours ago, centex said:

Sounds like something where you ought to have your insurance carrier's attorney speaking with the lender.  This is a collateral consequence of a policy claim and, as such, a DECENT insurance carrier SHOULD step up and try to intervene.  Hopefully you don't have one of the substandard carriers like Flo or the gecko...

or General Shaq!!!!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Member Statistics

    • Total Members
      179,281
    • Most Online
      2,046

    Newest Member
    kneemeister
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines