Old credit card debts in collection

**sla68** · 08-16-2006, 10:08 AM

I have two credit card accounts on my CR that are collection/chargeoff. I have not heard from either in 2 years. I have recently gotten into a position to begin to pay off my debts and started paying off other overdue utilities and medical bills. I chose not to address these 2 card debts yet, because they were marked charged off (and I hadn't heard from them). One step at a time. However, the renewed activity on the utility/medical bills has sent them into action and I have started getting calls(not answered) and letters from ARS offering "authorized settlements for reduced amounts". I would like to pay these in full. Should I contact the original creditors (Capital One and Cross Country Bank) and offer a pay in full for delete? Will they even talk to me if the account has been charged off and sold? I need advice as to the best course of action. I am in GA and the total of the 2 cards debt is 2100. Thanks in advance for any advice.

**Mr. Knowitall** · 08-16-2006, 11:18 AM

There's nothing wrong with trying to negotiate with the original lender or their collection agency, to try to have the negative entry removed in return for paying the debt. If the original creditor is using a collection agency, they may defer the matter to the collection agency.

**sla68** · 08-16-2006, 12:07 PM

Can they sue me if I do not respond to their calls or letters? The last payments on these accounts was Nov04. Do you think they will get more aggressive since they obviously know that I have started paying off some other debts. What is my best course of action? I am truly trying to become financially responsible but I cant do it all at once. Thanks for any input!

**sla68** · 08-16-2006, 12:12 PM

Another ?
What exactly is a chargeoff. Does that mean that the OC no longer has an interest in this debt. Have they sold this account to another company?
Besides trying to be financially responsible I am also trying to financially educate myself, things I wish I had learned years ago. Thanks again.

**Happy Trails** · 08-16-2006, 01:05 PM

Quoting sla68

Another ?
What exactly is a chargeoff. Does that mean that the OC no longer has an interest in this debt. Have they sold this account to another company?
Besides trying to be financially responsible I am also trying to financially educate myself, things I wish I had learned years ago. Thanks again.

Educational link.