[barbs1111]

BOA has just charged off a credit card balance on a business credit card with my name also as guarantor. I am willing to settle with BOA but they said the account has gone to Fred Hanna & Assoc. Fred Hanna says they will sue me and not my Company. Can BOA still recall this account and settle with me?

[centex]

depends on whether BofA sold the account or simply placed it. You need to determine the current status either by reviewing your correspondence from Hanna or by the manner in which it is reported on your credit reports...

[barbs1111]

Account was charged off 2/28/08 - no correspondence from Hanna just phone calls from them demanding 50% of balance owed to BOA

[centex]

If it was only just charged off, then more than likely it is still owned by BofA. That being said, in the current environment, expect lenders to be much quicker on the gun to litigate.

You won't get much of a discount, but you should find BofA to be receptive to a lump-sum offer once you get beyond their front-line phone reps. It would also be worth looking to see if you still have online access to the account for payment and statement purposes.