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Where to go to pay off outstanding balance?

When I was 17 I applied for a credit card with Bank of America and was approved (this was before they raised the minimum age to 21) I was in highschool and working retail at that time. I lost my job about a year later so the balance of said card kept building up, balance is currently a little over $1200 I wasn't really keeping track, stupid, I know lol. I've recently closed my BoA account and opened a USAA account, I'm 23 now with my Bachelors and on my way to joining the military and I keep receiving mail from a company called Cavalry Portfolio Services regarding a discount to pay off my debt. I can easily pay off my debt now but I would much rather send the funds directly to Bank of America or a collector that doesn't seem as shady as Cavalry. So my question is, what are my options when it comes to paying off an outstanding credit card balance in full?

Asked By: - 9/21/2012
Best Answer - Chosen by Asker
Bank of America is no longer in the picture as far as this account is concerned. In about another two years this debt will drop off your credit report. You could call Cavalry and find out what they will offer, if the discount is substantial it may be worth it. Two years ago I settled to Bank of America accounts... More
Answered By: Gorkbark Porkduke Gefunken Fubar - 9/23/2012
Additional Answers (2)
It's very common for creditors to sell old defaults to 3rd party debt collectors.....once they do this, you'd have to pay the collection agency. The original creditor, BoA, is no longer associated with the account and they are no longer entitled to take payments... More
Answered By: CatDad - 9/21/2012
 
Send Calvary a debt validation letter and ask them to break down the entire balance line by line. They probably jacked up the balance. Also find a FDCPA lawyer to see if you can sue Calvary - you only pay if you win. It is not tough - this stuff never goes to trial.
Answered By: flagmagnets - 9/25/2012
 
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