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Should I call them back and set up a settlement or payment plan? Or just wait it out and dispute it later?

Ok well i recently had some other credit questions and i have most of it sorted out, or am currently sorting it out. But i do have another problem. Let's just say i was young and dumb. About a year and some odd months ago, almost 2 years, i may have co-signed for my ex to get lasik. Well he never made one payment of it, and of course neither did i. I mean why should i? I still have to wear glasses and contacts. But it's on my credit and i really would rather it not be there. Plus they keep calling me to get some money. I did a credit report to get some extra background on it, and it has been charged off, which most people tell me means that they sold it to a collection agency. I'm pretty sure charged off is not a good thing to have on my credit. But i have also gotten advice that if i wait it out then dispute it, i could potentially get it off my credit report. I do realize that, that only happens if they fail to provide proof that i actually signed a contract. It's not a huge bill, its only like $4,000 or so and once when i spoke with them they said they would lower it like $3,200 or something but they wanted it all in one lump sum, and like most people i don't have that kind of money and not enough credit to get any loan or anything. So should i answer the phone next time they call and try to work something or out? Wait the 7 yrs for it to come off my credit and ignore their calls? Or try and dispute it so that i pay nothing? They call my house and my mom anwers and she says not to pay it becuase i shouldn't have to pay for it when i have really bad vision and he gets to walk around with 20/20 vision. (Just wanted to let you know i am 20, I don't want you to think i am a like a kid, mentioning my mom and all.) And if you could include some advice for each of the senarios that would be great. Sorry if it is a little long and confusing. But any advice would still be great. Thanks ^_^ By the way, I am completely aware that as a co-signer i am responsible ok? I'm not dumb, it's just that i don't think it all that fair that my credit is screwed because he is a P.O.S. (yea yea i know that bs that life ain't fair, yea i've probably gone through more crap than most older adults so don't give me that crap either.) I just want this off my credit, it's not really ruining it, i have a lot of good credit, but it's just the fact that it's still there. And if there was a better way to handle it vs them constantly bothering me, maybe a loop hole then i will take it, i just dont know hat my chances are of that. I have done a lot of reaserch on it, but i just wanted some extra advice. And bud68, yea your smart @s$ remark is not appreciated. By putting "may have" i was being vague, if you smart you would be able to tell that obviously i co-signed for. And i believe that my vision comparision is completely relevant to the fact that i spend way more on glasses and contacts and should not have to pay for his eyes. So if your not going to put anything productive, you know where the back button is, and try to answer someone else who may have to time to read your crap answer.

Public Comments

1. First, there's no "may have" cosigned. Either you did or didn't. If you did and he defaulted, you are liable. Your mother's advice is unsound. Comparing your vision to his couldn't be more irrelevant. What you need to do is verify the debt and, if valid, deal with it.
2. Well, whether you understood this at the time or not, when you co-sign a loan that means you are guaranteeing that you will pay the loan if the other co-signer doesn't pay the loan. And that's exactly what happened. So unfortunately, you are completely responsible for that bill. I would talk to them, try and talk to a supervisor, and tell them that you are willing to pay $2000 in payments with no interest if they will consider that paid in full. Then start making payments. You can't let this thing completely destroy your credit. And in the future, never co-sign a loan.
3. Call and negotiate a payment plan. Once paid in full take the ex to small claims court and go after him for the money. Promise yourself you will NEVER cosign for someone
4. U can dipute it with the bureaus and if the creditor doesnt verify the account within 30 days the bureau will take it off your credit and you will never have to pay it. Usually that doesnt work with a debt over 100 dollars. i use to repair credit for people. you can give it a shot. otherwise I would just work out a settlement with them. Tell them 3200 isnt good enough. they wont work out a payment plan, if you wait the seven yrs you will eventually get sued and have to go to court and 4000 can turn in to 8000. ive seen it happen many times. If i was your sister believe me your ex husband would be paying that debt in full. Try to get someone to make him an offer he cant refuse. everyone has those kind of connections and if you dont then im sorry. good luck
5. you could attempt to work something out with them. but you're not alone. your ex's credit is taking a hit for this too.
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