Bank is asking me to hand over $1,600.

Plantwiz

KGhaleon wrote: »

So apparently the original amount that was owed was $843.47(likely due to my parent, cough). So I negotiated it down to the original amount. I went ahead and paid that and they were willing to forget about the interest that built up since 2008.

eh, it's still a loss in the end but I'm just glad to have them off my back.

I do HOPE you got this in writing BEFORE paying





Otherwise, sounds good, but I hope you have this in writing to avoid EVER going through this again AND to keep the paperwork to PROVE it was ended.

KGhaleon

Plantwiz wrote: »

*craps self*

...

actually I did request that they send me verification that the account was paid off. Once I receive it in the mail I should hopefully be good. They didn't ask for anything more than the 50% which the bank was willing to accept.

Paul Boz

Yep, parents and siblings can definitely screw up your financial life. I see it all the time and typically there isn't anything you can do about it. People often forget the reality of co-signing finances because its all roses and sunshine until someone stops paying the bills.

It sucks that you lost an unexpected $900 or so but its completely worth having that off of your credit report and out of collections. I've always been "afraid" of the credit game so I played like an ostrich for years and years. I finally decided to join the wave of fake money so I ran my credit scores in April and found a number of items that were in collections. Two were for an ER visit and were just co-pays. Another was for an Xpress clothing credit card I got when I was 16. I immediately called the credit card company and paid it off then got in touch with the collection agency handling the medical bills and took care of those as well. By proactively addressing these issues I have been able to expedite the process of getting them removed from my credit score.