General Credit Topics

[rjchango]

I sent a PFD letter to Asset Acceptance for an charge off account (past or close to SOL).  No response for awhile and then I got a phone call. I had offered $6000 on original $24,000, tried to get more but I hardlined at that.  He said that if I agree to pay by the end of month with a post dated check now than they would report the PFD, totally paid in full, not settled for less and showing no balance. It sounds good but is it a scam?  He said he would fax an agreement letter tomorrow morning.  I know that being past SOL and all the other stuff I could probably have paid a lot less or not at all but. It is my debt and I want to be responsible and I am in a hurry because I want to buy a house real soon.  That was the big one and after that only 2 small ones left.  In addition, thanks to thsi site my score already went up 7 points in a month. So what do you guys think, is this ok or should I not do it?  Can they be trusted?  

[trinigal]

I'm no expert, but I thought a PFD meant totally wiped out tradeline, as in.....disappear off your credit reports...FOREVER, never to rear its ugly head again.  If it is truly a PFD then what the heck does this mean "He said that if I agree to pay by the end of month with a post dated check now than they would report the PFD, totally paid in full, not settled for less and showing no balance"? This should not even be an issue.

I think you should verify what exactly he means.  If I pay you $xxx, in x days when I pull my report, I'm not going to see your company name anywhere on my report right???

Something to that effect.

But as I said, I'm no expert.

Anyone?

[princessofpink]

Don't trust anything if it's not in writing.  Get him to fax it to you before paying. 

[dog]

the language of that offer is not a PFD.  all it looks like he is offering is to show a pif ca with a 0 balance...i wouldnt pay 6 grand for that. 

[trinigal]

See, that's what I was thinking.

So yes, listen to dog

[princessofpink]

Yes, indeed.  Sorry I didn't notice that.  What he is offering you won't help you in the least.   Get a true PFD in WRITING.

[Boswd]

Also I would double check your State's SOL,  if they were willing to accept  $6,000 on a $24,000 debt, that sounds a little bit funny to me.  LIke they know they won't get anything if it's past the SOL and will at least make $6,000.   CA would have no problems suing for $24,000 and would more than likely would have hardlined around $15,000 or more.  

[rjchango]

**bleep**, I guess I was scammed. Well, even though it is past the SOL, like I said, I want to pay it because it is my debt.  I have the money so that isn't the question, it will give me some piece of mind.  However, I guess will have to see the agreement tomorrow and if it is not a total deletion then tell him no go.  Just to be certain, I need to ask not just for a paid in full but for a total deletion right? I guess i mistakenly thought a paid in full would help. Thanks you guys for all the advice. 

[trinigal]

Correct.  you need to say: Mr. Nice Collection Agency Man, if you receive my $6000, you are going to delete the tradeline off of my credit reports right? Then again, don't listen to me on HOW to say it, I'm stalling on calling mine just because I don't know what to say.

Point is, YES, you're asking for a COMPLETE DELETION OF THE TRADELINE ON ALL 3 CREDIT REPORTS!!!!

[Boswd]

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rjchango wrote:

**bleep**, I guess I was scammed. Well, even though it is past the SOL, like I said, I want to pay it because it is my debt.  I have the money so that isn't the question, it will give me some piece of mind.  However, I guess will have to see the agreement tomorrow and if it is not a total deletion then tell him no go.  Just to be certain, I need to ask not just for a paid in full but for a total deletion right? I guess i mistakenly thought a paid in full would help. Thanks you guys for all the advice. 

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Oh yeah if it's beyond the state's SOL, then accept nothing less than a PFD, nothing less.  and also let them know that you know it's beyond SOL, otherwise they get nothing.