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Best possible outcome from paying a charged-off account

Personal Finance & Money Asked on August 7, 2021

I had an auto loan from 2011. All but about 1,800 USD was paid off. Various financial challenges and a dose of me sticking my head firmly in the sand led to the account being charged off. I handled this very poorly and learned from it. Now I would like to make it right, though, and I finally have the money to do so. I would also like the best feasible outcome for my credit. What can I reasonably expect? What should I ask for? I doubt they will remove the history of charge-off dings from my credit, but what do I know? Do I just pay it off and ask that they report it as paid in full? Can I even ask them to settle for less but still report it as paid in full? Retaining some of the money we’ve saved for this isn’t essential, but would be nice, of course. Are there alternatives I should consider that I haven’t addressed here?

If it helps, the creditor is CapitalOne.

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