Credit score hurt because bed debt filed with Chex systems, interesting question.?

Hi. I had a bad period with Bank of America, I owe them roughly 2k over 3 accounts. I have the money, went to the bank and they said they%26#039;d accept payment, but would not open a new account.

They have sold all 3 debts off, and I get calls from the agency they have sold the debt to. They want like 1,200 for all 2 thousand worth of debt! Do I get a benefit from paying BankAmerica directly? I pay less with the credit agency.

I know once you pay the bank, they are supposed to send something to Chex systems saying I%26#039;ve paid in full. My question is wont the debt agency send that same report? And if they do dosn%26#039;t it just make ALOT more sense to settle with the debt agency at a discount then pay BankofAmerica (who were VERY RUDE). The lady called me a deadbeat. I accept that I made mistakes, and I want to correct them.

Strategically does it make sense to give the Bank the money, despite the fact they%26#039;ve already sold the debt?? Effectively there making money of my mistakes!

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Pay the collection agency only in exchange for a paid in full letter...this you take to BOA and demand they list you as paid in full with chex systems...The debt will be listed with chexsystems for 5 years regardless of whether you pay the debt off or not...

Here is a list of banks that provide second chance checking accounts...scroll to the bottom of the screen and click on your state...it gives you a free list of banks in your state that proviede second chance checking accounts...

http://www.secondchancecheckingaccount.n...

Credit score hurt because bed debt filed with Chex systems, interesting question.?

You don%26#039;t OWE the bank anymore. You now owe the collection agency. No simple way to explain it. You really don%26#039;t have a choice of WHO you want to give the money to. You can haggle and pay way less then that if you so desire. It will show up on your credit report that you settled for a lower amount. But, then again, it still shows the bad debt (that you didn%26#039;t pay in the first place) on your credit report anyway. Either way it gets much better for you after you pay the debt off. But it does NOT make much of a difference how MUCH you pay for it. So, better to pay as little as possible, right? My friend held out saying %26#039;no deal%26#039; until they accepted $1000 on a $6000 debt! I%26#039;d offer $800 if I were you. Oh, and good job trying to go back and fix what you did wrong :) I%26#039;d go to a different bank if I were you. Everyone I%26#039;ve ever known with BofA has had money stolen from their account by the bank!

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Once your debt has been sold to a collection agency, it no longer belongs to Bank of America. You need to deal directly with the collection agency to work out a repayment plan.

Best of Luck

Credit score hurt because bed debt filed with Chex systems, interesting question.?

The other answers are right about who owns the debt. Bank of America will probably never do business with you again. I would try a local bank to get a checking account and a savings account at the same time. They might be more understanding.

Credit score hurt because bed debt filed with Chex systems, interesting question.?

You should definately pay the collection agenct, only if they will supply you with a paid in full letter. The specific status of the account on your credit should be negotiated to %26quot;Pays as Agreed%26quot; this will allow you to start to bounce back from having a collection account on your credit to begin with. To get another bank account, you will need to get with Chexsystems on that.

In order to do that, you can get unlimited information for free on my website. If you have a question, just ask and I would be glad to help.

There is no charge for this service, as I know how simple it is, and with little effort, you can resolve the entire thing, dispute the negative information no your credit report as well. Free letters are also on my website. The link to chexsystems information is http://www.rayscredit.com/chexsystems.ht... , the link to the letter is on that page. Just save it, and change the letter to how you need it to read. This is the same letter I used to remove over 3 negative Chexsystems listings.

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Hi,

I used %26quot;Credit Solution%26quot; to settle my debt.They managed to reduce my debt 58%.It%26#039;s legitimate.I came accross this company on NBC News Special Edition.Check it out here:

http://creditsolution.easyurl.net

Credit score hurt because bed debt filed with Chex systems, interesting question.?

Regardless of who you make the payment to the bank will not be obligated to open an account with you. Just be sure to get a letter of the agreement to remove your name form the Chex system. In the event your name is not removed you can send proof to Chex system which they must check out.

Be sure to pay by money order, moneygram, western union etc. That way the payment can be traced