- Green Member
- Posts: 10
- Joined: Thu Oct 21, 2010 12:59 am
- Location: Miami
maybe someone can give me some advice:
in 2002/03 I left the US and went to Europe. I had quite a few CC (AMEX, Citi, BofA, Discover, Cap1 and a few StoreCards). I lost my job at that time and couldn't pay all of my CCs anymore. I did PIF the AMEX with about $ 2'500.-. The other ones had an average of $1'500.- that I couldn't pay anymore. I think I had 4 chargeoffs. I'm back in the US since mid 2009. When I first checked again my CR in late 2009 I had a score of 600/610/577. In mid 2010 almost everything fell of my CR and my score went up to 730/730/738. I did apply for two secured cards (BofA and Cap1) and got approved with both of them. At the end of 2010 I applied for the AMEX Gold and Discover Card (got approved with both of them). Last month I got approved for the Citi Platinum Select MC with a CL of $2'000.-.
So, I'm really working hard to rebuild my credit. My utilization is almost 0%. I recently discovered, some Debt Collection Agencies were pulling my credit. In the meantime I've received two letters (one from Allgate and one from Asset Management Professionals > AMP) that I have outstanding balances to pay.
Allgate is about $2'000. They are writing that they are authorized to offer a significant discount to help settle the account.
AMP is also about $2'000. They want $1'500 in either 3 payments or 1 PIF.
Well first of all, I don't really have the money to pay them back in full nor to make arrangements for a payment plan. That's the reason why I'm not using my current CCs either. Even though I know I did have this debt and I stand for it, I wonder if I can settle for a better deal.
Should I even contact them? Is there a possibility to renegotiate for a lower payment (I know that the accounts with the original creditors have long been charged off and the Agencies bought the debt for pennies on the dollar)?
Any answers will be greatly appreciated.