Can I still negotiate with CC co?

[Sickofdebt]

I have 2 accounts that are over 180 days past due. I know the Bank of America one has been charged off and sold to a CA. The Discover card is still showing 180 days late on CR, but not yet charged off. They do have an attorney hired for the account. I'm really eager in paying off the Discover card within 6 months, pending agreement on a settlement.:?:

Can I negotiate with Discover directly or do I need to deal with the attorney's office? The balance is about $5800.

Also, should I wait until I have saved 50% of the debt in the bank, or offer to make installment payments for 6 months?

[willingtocope]

First, CAs don't buy debts. Junk debt buyers (JDBs) buy debts. CAs are hired by OC and / or JDB to hassle you. They have no real authority.

To be sure the BofA debt has been sold...either call them and ask, or check your credit reports. If it says "sold to another lender" and the balance is $0, then its been sold. Otherwise, you're just being hassled by a CA....so, yes, you can call the OC and see what you can work out.

If you call the OC, ask for the "hardshipt" department. Don't agree to anything you can't carry through on.

[Sickofdebt]

The Bank of America account says charged off as bad debt on my CR. I'm a newbie here. What does OC stand for?:confused: From what you're saying, sounds like I can negotiate directly with the CC co.

[willingtocope]

OC = Original creditor...yes, the credit card company.

(There's a list of abbreviations in one of the stickies.)