What is the best way to take care of this?
:( I have two different issues that I need to deal with.
#1- Yesterday (10/6/07) I received a letter in the mail from Jefferson Capital Systems, LLC regarding a Sears account from 11 years ago. The letter states that NCO Portfolio Management placed my account with them for collection of $991.00. It appears that the settlement they are offering ($375)is tied to some kind of balance transfer to an Emblem Mastercard.
There is absolutely nothing regarding this account showing on my credit report, and hasn't in at least 4 years. Should I DV Jefferson, or just leave it alone?
#2- I have a derogatory account with BB&T for $1200. It is from a Mastercard that I got from them years ago with a $300 credit limit. I maxed the card out on a car repair, and I would estimate that I have paid them around $3000 over the last 6 years trying to get it paid off. Last year in August, I got so frustrated that I just quit paying on it (I know that was a really stupid thing to do).
I have received a letter from a collection agency regarding the account, but BB&T is the only one reporting the derogatory account on my credit report. The collection agency is not reporting to the CRAs. Which company should I contact? BB&T or the collection agency? If I pay BB&T, is it reasonable to ask for a "pay for delete", and should I try to settle for less than the $1200 they say I owe?
I really appreciate any and all constructive advice. Thank you!