     David Temkin (Dtemkin) | Tuesday, August 29, 2000 - 08:41 am 
So today I call and speak with a few different people and make a few different offers. One offer consisted of me paying 1/2, and then them reopening the account (an Optima account) as a revolving charge with a limit equal to the amount still owed. They 'nay-ed' that one.
I then tried the do-not-verify trick. They wouldn't go for that either. The kind lady stated that it would remain on as a chargeoff, and if I paid it, it would reflect as a paid chargeoff. When I pointed out to her that both look equally as bad, she said "That's correct".
Wait. It gets better.
I then pointed out that even if I were dumb enough to pay it, it would restart the 7year clock, which already started some 300days ago. Why would I want to put myself into that situation?
She replies: "You probably wouldn't" and I said "So you think I'm better off not paying it?" and she says "Probably".
Wow, go AMEX!
-Dave |
| mali (Mali) | Tuesday, August 29, 2000 - 11:14 am
That's interesting. However, if you paid it in full it would not restart the 7 years. |
| David Temkin (Dtemkin) | Wednesday, August 30, 2000 - 02:29 am
I wouldn't pay them in full. I'd probably settle (unless they went for my option A. That would be just plain stupid. Even if so, wouldn't *any* change to the account status (from Chargeoff to Paid Chargeoff) make the 7year clock restart? |
| mali (Mali) | Thursday, August 31, 2000 - 07:21 am
From everything I've read on these boards, paying off the acct. will not restart the 7 year clock but you might want to double check with someone who has a lot of experience or do a search on this board. However, PARTIAL payments I know can restart the Statute of Limitations but I can't remember if partial payments affect the 7 year reporting period. Christine, anyone? |
