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holdupswolledup

Should I accept the offer or pay in full?

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I have one final thing left on my credit report to be free and clear for good. It was a secured card with Green Dot that got charged-off during a rough patch for $222. It is being collected by Total Card, Inc. 

 

I got a letter in the mail last week stating that their client (Green Dot) agreed to 3 monthly payments of $45 as full and final resolution. Following that they are also offering that if I make a one-time payment of $112 I could save more than I would with the first option. Obviously, I like the thought of being able to save more, but is taking this offer more beneficial than paying this off in full? Reason I ask this is I wanted to work on getting them to remove this blemish from my report and not sure which route I should go that would best tip the scales in my favor. If paying the full amount would be better I will do that, but if I can save money and still get the same result, that would be even better. Any thoughts? Thanks for your help in advance. 

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a paid charge off is just as bad as an unpaid charge off. paying it will not make your reports "free and clear"

 

if it is out of SOL, ask for a PFD.

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Total Card used to be one of the sub-sub-prime issuers, with limits that you basically bought (although not as a secured offering). 

 

They may be willing to do a deletion in exchange for a few dollars more...and since this is not a huge sum being discussed, it would be worth inquiring what amount will be required for a deletion.  Get the offer in writing and promptly pay. 

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Meh I don't think PFD is an option. You're dealing with Total Card. If the negative account reporting is with Green Dot, not even a million dollars will get it deleted. You need to work with Green Dot to get the reporting deleted. Unless it's actually a collection reporting from Total Card. 

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