I'm not too familiar with the re-aging process but I do know that some companies offer it.
You will need to contact the credit company and see if there is ANY way to work out a payment plan. Ask about re-aging. From what I've read, they have to see a willingness to pay and at least 3 consecutive on-time payments before entering an agreement to re-age. If the company does offer this it is definitely a MUCH better alternative than letting it charge off.
If this is for a significant amount of money......they could (and more than likely will) turn around and sue you which can make the debt as much as double...
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~Trish~ |