Getting Verizon to lower my charge-off amount?

I checked my credit report and found this:
GTE/Verizon
500 Technology Dr. - Suite. 300
Weldon Springs, MO - 63304

Amnt. $707.00
Opened: 08/2008
Reported: 11/2009

Aug08 * Paid as agreed
Sep08 * Paid as agreed
Oct08 * Paid as agreed
Nov08 * Paid as agreed
Dec08 * Paid as agreed
Jan09 * Paid as agreed
Feb09 * Paid as agreed
Mar09 * Paid as agreed
Apr09 * Paid as agreed
May09 Charged-off
Jun09 Charged-off
Jul09 Charged-off
Aug09 Charged-off
Sept09 Charged-off
Oct09 Charged-off
Nov09 Charged-off

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Now, I'd like to resolve this but I can't pay $707.00 - do you think they would lower my amount? Not significantly but to some extent? Even just $100.00? I really want to take care of the bill and re-establish a contract with them. I didn't intentionally ring up a $700 bill, shortly after I signed with them my personal life sort of fell apart and most of my finances were tied up in doctors and trying to pay things like rent and electric. To avoid a higher bill I had to voluntarily terminate my services.

No they won't lower without you giving reasons. They will accept a settlement offer of maybe 2/3 of the amount outstanding. Ask but I think you're wasting your time.

It's also kind of a waste of time dealing with this because even paying it off HAS NO EFFECT ON YOUR CREDIT RATING WHICH IS ENTIRELY A MATTER OF HISTORICAL RECORD. Your historical record will show the debt outstanding.

Your intent to resolve the situation is enough. Complain about their failure to deal in a straightforward manner and ask them to reduce the debt to compensate. If you are not satisfied with the response then you should pay by installments when you can afford to, dealing with immediate priority debts first.

If this company charged it off then they have more than likely sold the debt to another company, probably a collection agency, and the collection agency is probably reporting on your credit report as well. You wont be able to resolve it with verizon if they have sold the debt, best chance would be to settle with the agency that obtained the debt and try to talk them down to a reasonable amount. A collection agency pays "pennies on the dollar" for debts because they buy them in bulk. Dont pay anything until you get something in writing, and do not give a collection agency your bank info. Good luck

Why are you asking us. Call them Monday and arrange a payment plan before they turn it over to collections and the amount owed triples.