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About LinkBacksI have about $5,500 in Mastercard debt that I haven't been able to pay off for three years. I now have the money. Should I just go to my bank with the check and tell them to send it to MC?
Thread: Best way to pay off old debt?
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Green Member
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Best way to pay off old debt?
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Centurion Member
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- Jun 2008
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Well MasterCard is the payment network and doesn't lend any money. What you will want to do is check with the issuing bank for that card and see if the debt has been written off and sold off to a 3rd party. I have heard Capital One has been known to hold onto bad accounts for many years but most issuers will have sold off the debt within 3 years so first find out whether the bank is still holding the debt and then report back here.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
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