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Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008

Re: why is orchard so bad?


vish1 wrote:

The best thing to do if you have low limits is to keep paying as soon as the transaction posts. At any time, keep your balance low. PIF or making small payment will have no difference as long as the balances are low.


Just be aware, if applicable to your credit product, that some card issuers only let you pay some many times in a cycle, or so many times within a defined time period (e.g. every two weeks, etc...). I have no idea if this is applicable to Orchard or not, but I just wanted to throw that out there, for planning purposes. Just in case.

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Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008

Re: why is orchard so bad?


pyboathon wrote:

that's why i was wondering if I should just forget about the pdf and just try to settle with all my collections. All together its only around $1500 so if I settle it probably will just be around $750


Paid and settled collections, for FICO scoring purposes, hurt just as badly as paid collections. If at all possible, you'll want to negotiate PFDs. Some people have luck at getting PFDs for less than the balance owed. Often enough, people have to offer to PIF to gain some traction. Sometimes, the creditor won't deal at all, so YMMV.

 

As long as you have debt w/in the SOL, make certain that you have the $$$ to PIF should they decide to sue.

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Friendly, Supportive & Respectful


Understanding Your FICO Score  |  Credit Scoring 101  |  Common Abbreviations  |  FTC: FCRA Links  |  FTC: FDCPA Links  |  Opt-Out  |  State Resources


"However gradual may be the growth of confidence, that of credit requires still more time to arrive at maturity” ~ Benjamin Disraeli


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