Newbie needs some advice. Very much appreciated.

[liquidlx]

Hello to you all on the forums

This is my first time visiting the forums and o'boy do I wish I had done it before!

First let me say thank you to all those people that post in here helping people out of  real kindness---- it really is very refreshing to see.

I too need this forum's help.

Just like most of the people here I have taken on clearing up my Fico Score.

My Current Problem:

Fico Scores = Equifax 585, Experian 593 & Transunion is my highest at 621.

During college I didn't take credit seriously and I ran up three credit cards. Paid on them for awhile until I couldnt afford it and they all three eventually became write offs.

I paid 1 write off in full.( that company actually removed the write off from CR without me asking)

2 accounts remained at a total of $1300 from the same card company for both accounts.

Two weeks ago I paid 650$ of that remaining balance.

And ......yesterday I mailed out a letter to the collection company asking to settle the remaining for a % of balance owed.

When I did that I did not realize I could write a PFD and get the accounts deleted.

I am confused as to what to do!

I want to get this deleted off my CR and I didn't realize that was a possibility until I came to this forum.

When they reply should I send a MODIFIED PFD letter? Advice?

I've paid in full all other collections accounts and have an auto loan that I've never been late on and a student loan that is also always been in good standing. I really want to refinance my auto this year perhaps in the fall, but I am doubting with my current scores that I will be able to raise them high enough for re-fi.

I opened up a fingerhut account for the purpose of re-establishing good credit. Have been denied for all other forms of credit.(which makes me feel terrible and irresponsible).

I really want to take care of this the best way possible.

Thanks for taking the time to read my post and for any help and suggestions.

Sincerely,

Kelly in Ohio

[Anonymous]

Each debt has a date  DOFD  DOLA        What is your SOl and does it go by DOFD or DOLA (most go by DOLA but not all)  which means you might have reset the SOL  by making payments

What and how things are done matters. Im guessing that you are dealing with a CA  correct?

Who is reporting  the OC  CA or both?

[liquidlx]

Thank You for responding

After looking at my CR again, I’ve found these dates for my bad debt/write off:

Status of Jan, 2008

Date opened Jul, 2001

Date of last activity Oct, 2007

Date closed May, 2003

Approx total amount left 750$

It’s being reported on my CR from the OC of APPLIED CARD.

The CA however is First National Credit Bureau, and that is who I’ve been sending payments to and is the collection agency I sent the letter to requesting to be able to pay a portion (%) of the Total Sum.

In that request letter I did not request a deletion or even mention my credit.

I still haven’t heard back from the CA yet (it’s only been a few days).

I’ve been making payments on and off for the past 6 months or so. I assume I reset the SOL because of this.

I want to get this deleted off of my CR and not quite sure which step is next.

Any advice on how I should move forward is greatly appreciated.

I am going to post separately the letter that I mailed out last week .

Thanks again!!

Kelly

[liquidlx]

 The letter I sent out last week requesting settlement from CA.

First National Collection Bureau Inc

Dear Collections Officer,

This letter is regarding myself, Kelly X and my account(s) with First National Collection Bureau.

I have had two collection accounts with FNCB. Both accounts have the original creditor of - Cross County Bank and have been transferred to current creditor Applied Card Bank.

Account numbers for the two accounts are XXXXXXand XXXXXX. I am not aware if these accounts have been combined or not.

I am writing to acquire about the current balances of my accounts and ask if I could get and or/ pay a settlement percentage so that I may pay this debt off quickly? 

In the past 35 days I have sent First National Collection Bureau approximately $686 dollars in a series of checks to show my good faith in wanting to pay off this debt. I would like to pay off this collection in full but I am currently unemployed due to documented medical reasons and that’s my basis for not being able to take advantage of the 1st offer sent by FNCB to me on Jan 11th 2008 and why I am writing requesting First National to allow me a second opportunity to have a percentage settlement on account(s) current value as of February 29th 2008.

And some addtl updated info. That was about it.

[liquidlx]

I'm going to research the threads tonight to try to find the awnser but I wanted to BUMP this message in hopes of getting a PM or a response.
Thanks

[Anonymous]

Look at the reporting from the OC........on TU and EX  look for  * will remain on CR until  month/ year

This is when it will drop off your CRs!!!  If you can't find it call the CRAs and ask when it will drop.

What state are you in?

The date closed in 2003  would mean that the DOFD  would be before that date!!

In the future (if you are working on any other COs)    Never admit to owing always question!  Never combine debts!!!  Each needs to be seperate even if with the same CA.

When paying on more then 1 debt  payments should be seperate...the CA can not take 2 checks with different accounts written on them & only pay 1. They must do as you direct.

I would forget the letter that you sent for now and  send a DV to the CA     IF 2 different accounts   then send 2 DVs  1 for each account   CMRRR

Never talk to a CA and NEVER sign anything that goes to a CA....just type your name!!

Dispute the OC.......wait until the CRAs notify you that it has been verified......then send the OC the OC Letter.......(an OC doesn not have to answer the OC letter untill after they have verified a dispute)

[llecs]

This is unorthodox, but DV the OC. You can't do that, but when I was early in the repair process, I did this for DW for Applied as well. Applied responded saying I can't do what I did, and they are right, but they offered a PFD on their letterhead for 100% of the amount due.

Their PFD was just as good as ours and offered to delete all references on each CRA and will no longer pursue collection activities.

One other poster in here somewhere did the same thing. They posted the exact same form letter. I don't know if they accepted it or not.

YMMV

[llecs]

And not to confuse, like HappyDays mentioned, watch out for your SOL, DV first and offer a PFD as a last result. If PFD is your goal, and you have no qualms with the amount, paying 100%, IMO, of the balance is the next best step (proceeding a PFD).