Debt Consolidation Forums Debt Consolidation and Debt Settlement forums
Possible to negotiate lower payoff without affecting Credit Rating?
Thu, 02/19/2009 22:59
I'm working on paying off some debt, and my next focus is our Capitol One card. We have made at least the minimum payments on time, etc. But I just want to be done with one less card.
I called to say I want to close our card and payoff - if they would accept $3100 as 'paid in full' (our current balance is $3900). But - after doing some research I've found that they SAY it will be considered 'paid in full' with an R9 rating...
Would this also be the case if I pay off an account that is NOT defaulted or late? Would I be shooting myself in the foot since it appears they SAY paid in full, but are quick to also slap an R9 rating?
I also asked to get this in WRITING BEFORE I send payment, but the person I spoke to gave me the runaround and told me to call back in 2 hours because their system was down...???
Is the possible savings of getting this balance reduced worth it, or will it be considered R9 or negatively affect my credit rating??