Discover Credit Card Charge Off Advice

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Posted: Thu Jan 13, 2005 1:59 pm
Post subject: Discover Credit Card Charge Off Advice
TommyC
Date: 6/24/2000 4:53 am CDT

Hi Everyone,
About a year ago, I was involved in an accident and was out of work for about 6 months and unable to pay my creditors and it ruined my credit rating. I negotiated with most of them and even though I am in the process of trying to rebuild my credit now, I have a question regarding charge offs.
I have a charge off with Discovery Card on my Experian Credit Report that is posted since June 2000 and is due to drop off in June 2007. My question is, is there any benefit to me or my credit report to pay the charge off of $3700.00 ($1600.00 of actual charges and the remaining amount accumulated interests and penalities) with Discovery or just wait out the seven years? Thanks in advance to all who reply. TommyC

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archive
Posted: Thu Jan 13, 2005 1:59 pm
Post subject: Discover Credit Card Charge Off Advice

dave
Date: 6/26/2000 1:54 pm CDT

a paid collection account is better than an unpaid one. Can you wait 7 years for this item to be removed? you might ask discover card to remove it in exchange for payment. you have nothing to lose.