I have one baddie on my credit and it is a collection from First Source Advantage and a hospital (same debt). I tried to negotiate a PFD with both agencies today with a refusal by both parties even if I did pay it in full. I asked about a letter of GW as well. However, that is not acceptable. What should I do?
Starting Score: 500's
@Reese2107 wrote:
I have one baddie on my credit and it is a collection from First Source Advantage and a hospital (same debt). I tried to negotiate a PFD with both agencies today with a refusal by both parties even if I did pay it in full. I asked about a letter of GW as well. However, that is not acceptable. What should I do?
The good news is that the new vantage score model that was rolled out last month will completely disregard and NOT include PAID medical collections at all.. While on manual review it may not be ideal, automated scoring will exclude PAID medical collections.. Google "new vantagescore 3.0" and read all about it..
Good luck..
$30,500
$18,500
NPSL
$15,000
$10,000
$25,000
$32,000
OK. Well. That's good news. Guess I'll have to settle with them. Another question. IF I settle for half the amount...will they report the balance as PAID 0.00 dollars. Or will the other half of the debt that wasn't paid for still remain as the current balance?
@Reese2107 wrote:
OK. Well. That's good news. Guess I'll have to settle with them. Another question. IF I settle for half the amount...will they report the balance as PAID 0.00 dollars. Or will the other half of the debt that wasn't paid for still remain as the current balance?
Will report a 0 balance as Paid... But, they may add a comment that it was settled for less that the full amount due.. But it will show as Paid with a 0 balance..
@RSCo wrote:
@Reese2107 wrote:
I have one baddie on my credit and it is a collection from First Source Advantage and a hospital (same debt). I tried to negotiate a PFD with both agencies today with a refusal by both parties even if I did pay it in full. I asked about a letter of GW as well. However, that is not acceptable. What should I do?The good news is that the new vantage score model that was rolled out last month will completely disregard and NOT include PAID medical collections at all.. While on manual review it may not be ideal, automated scoring will exclude PAID medical collections.. Google "new vantagescore 3.0" and read all about it..
Good luck..
I've never heard of any lenders using vantagescores for credit decisions........
