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I have a business credit card account with Wells Fargo that went to a charge off status an is now held by a collection company called Fan Distributing. The total amount due is $9114.
I have the money to pay the entire amount, assuming that is the best thing to do. Ideally, I would like to get this removed from my credit report as a part of paying the entire amount.
Someone told me that negotiating a pay-for-delete with the collection company would result in a charge-off on my credit report from Wells Fargo and no record that it was paid off.
Advice??
not really.
here is the problem. Fans distributing may well be willing to negotiate a pay for delete but the original creditor (wells fargo) will still list a charge off ( but the balance is zero).
usually the way it is listed is charge off 0 balance, high balance xxx.00