I have a charge off of $5,000 with Capital One… I called them to see If they do pay to delete agreements but got denied. I want to know what's the best I can do to improve my credit and get accepted for a new credit card. They said I can do a payment plan to pay of the $5,000 but I don't know what to do at the moment, and I also don't want to get sued by them for not paying that money.
Posted by chochasocks67
2 Comments
If they’re offering a payment plan, I’d probably take it just to avoid the stress of collections or possible legal action later. It sucks they won’t do pay-for-delete, but having it marked paid/settled still looks better over time than leaving it hanging there.
How much money can you afford to pay them today? Did you make them an offer to clear the bill for that amount? or were you only interested in Pay to Delete?
Get everything in writing if a payment plan is outlined, or a settelement.
To get your credit score up – you need to start resolving your credit issues. That starts with getting old collections marked as Paid/Settled, and keeping up on current bills – so that they do not show negative marks.
The goal is to elongate the time since your last missed payment – so make sure everything from here forward is paid on time.
But you gotta get the collections cleared. Very few people are interested in doing business with you, when others are actively trying to collect the money they are owed and you are unwilling to pay them.