PFD trying again, and again…

Heartbreaker · ‎09-25-2007

how many times should I try before I just give in and pif with/without a pfd? The accounts im attempting this with wont be falling off my cr anytime soon i don't think since i have lates as recent as 05-06, and I really don't feel like putting up with years of calls/letters/etc, so i really want to just pay regardless I think, right?

MeganML84 · ‎09-25-2007

I would think you certainly don't want to push it, especially if the debt is still within your SOL. You don't want to get sued! Maybe someone can offer some helpful advice, because I sure can't! Good luck!

Wisdom doesn't automatically come with old age. Nothing does - except wrinkles. It's true, some wines improve with age... but only if the grapes were good in the first place.

SmartCookie · ‎09-25-2007

It's really personal preference as to what it is worth to you. Sometimes you have to up your PFD offer. With accounts this recent... it's worth the effort IMHO.

A paid collection isn't dramatically better than an unpaid one. Yes, it's better... but it's still negative. If you were ever at the point of giving up on GW and PFD's, I'd say at the least get a settlement offer instead of PIF.

Don't rush to pay yet or give in too easy... persistance pays off here.

And BTW I'd send new PFD's at 60 days or so if I had not gotten a response.

EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***

Anonymous · ‎09-25-2007

Heartbreaker wrote:
how many times should I try before I just give in and pif with/without a pfd? The accounts im attempting this with wont be falling off my cr anytime soon i don't think since i have lates as recent as 05-06, and I really don't feel like putting up with years of calls/letters/etc, so i really want to just pay regardless I think, right?

If you gave it the good old college try on the PFD, you can always try and settle for less than the amount owed. With the debt being so young, the problem is that you may open yourself up to it being sold and resold to different collection agencies, each time resulting in a new hitto you FICO. If you can settle, go for it. At least it will stop reporting as an active charge off and you will be immune from further damage. Even though payment wll not remove it, at that point you ca let it grow old gracefully and manitain a pristne history from here on out.

Heartbreaker · ‎09-26-2007

If I do settle for less than the full amount, however, I would still be leaving myself open to it being sold and resold, right? Also, is there a difference between such a case like this and what would be listed under the 'collections' portion of my credit report? I ask because I have several collection accounts, none of which (knock on wood!) are listed under the collections part of my credit report with any of the agencies...

Anonymous · ‎09-26-2007

Heartbreaker wrote:
If I do settle for less than the full amount, however, I would still be leaving myself open to it being sold and resold, right? Also, is there a difference between such a case like this and what would be listed under the 'collections' portion of my credit report? I ask because I have several collection accounts, none of which (knock on wood!) are listed under the collections part of my credit report with any of the agencies...

Always get a settlement agreement in writing. Once settled, the debt is consdered paid. No possibilty of being resold. Just make sure it appears on your reports as such.

Heartbreaker · ‎09-26-2007

Wow I feel like an idiot for not knowing that - I just assumed (you know what happens when you assume!,haha) that if a debt was settled for less that whatever outstanding amount was left could be sold again...THANK YOU, BRAMMY!!!