Three years ago I had some money troubles and wound up past due with Discover Card. Just before Christmas 2004 I received a one time settlement offer of fifty cents on the dollar to settle and close my account.
I jumped at the chance to clear the books. My parents sent a certified letter and a check to the attorney assigned to the account.
I heard no more from Discover Card until 9/26/2006 when they placed all of the old 2004 past due accounts into my credit report.
That account was settled and marked paid in full almost two years. I went from 677 down to 575 over night.
Review about: Discover Bank Account.