Should I pay a debt thats written off? ?

Question

I had a capital one credit card and could not pay for a while and they wrote the debt off. Now a third party has purchased the debt and is attempting to collect. I was watching Suze Orman and she told a woman not to pay written off debt because it would not benefit her fico score.I didnt have the money when capital one wrote off the debt but now i do but i dont want to pay these scavengers especially if it wont help my FICO. Any suggestions? I was also considering offering a low ball settlement since they only paid pennies on the dollar for my bad debt. But i doubt they would sue me because its under $600.

Answer 1

I just recently had a debt written off , due to illness and loss of job I

couldnt pay. Pretty soon youll be getting mail from the new creditor

or collection agency but dont answer right away wait maybe 6 months

to a year and then make a low balance settlement and if you do get

them to agree in writing saying that you paid in full because they will

try to trick you, like this co I only owed 153 medical expenses, they

sent me an ofer letter that I should just send in 50 dls and that it would

be paid but on the actual bill at the bottom it doesnt say 50 it still said

153, so thats how they get you.  Good luck!!!

Answer 2

There are only two times I would ever pay off debt that has been written off, the first would be if they were about to sue me and the second would be if they agreed to a pay foe delete agreement which simply says that in exchange for your payment they agree to remove the account from your credit report.

Suze is correct without this agreement paying old collections will not help your credit score at all as a matter of fact it will actually lower it because the accounts will become current rather then old.