03-17-2012 12:32 PM
Hello Uhmmm and welcome to the forums.
In case you hadn't noticed the thread is almost 3 years old and the original poster has not been online in about 18 months so you might not get an answer. Hopefully someone else will read this and be able to help.
03-19-2012 10:56 PM
My husband and I are in the same boat. From what I understand, Pinnacle is known for this type of behavior. Typically the debt is close to the SOL, they reopen the debt in hopes of getting people to do exactly what you're thinking: settle with them, PFD... They buy the debt for pennies on the dollar from the companies that have already taken the loss! Then they harass you, or damage your score, so that you'll just decide to pay, instead of fighting it. They end up making a nice little profit... Fighting it takes a long time, and typically they expect this to deter you, so you'll cave! And pay. Which is exactly what it's done to us. We're in the home buying process as well, and they reopened a debt a month before we were set to close- Pinnacle has made us lose a home because of a Verizon wireless bill from 2006. I suppose it's a lesson learned, always pay termination fees....
The first step is the VR from Pinnacle... A website that I've found with all the paperwork is here, http://www.bills.com/debt-diy/ and it takes you through the process. Whatever paperwork you'll need is there, but I wouldn't suggest contacting BBB until you have all your ducks in a row. Many forms need to be sent to Pinnacle before BBB can consider your case worthwhile. If all paperwork is ignored, or you're given insufficient responses from Pinnacle, then you can contact BBB, they'll demand that Pinnacle respond with a settlement and/or deletion from your CR. They actually aren't BBB Accredited, but they'll respond to them. Or you can go directly to the credit bureaus, but again, all your ducks needs to be in a row.
We've decided to settle for PFD. Unfortunately it's the fastest way we see to get something off your credit report.... Even then, Pinnacle is known for saying they'll delete it, but won't. They accept your payment gratefully, and months later people are still trying to fight them for a clear CR.... We're not giving anyone a dime until we have a signed PFD contract with them, which is what I would suggest you do as well... I am, by no means, an expert. I have been looking into this for the past week since we lost our house, and this is the information I've gathered. I hope I answered some questions, sorry if I didn't, but I know I feel better knowing that others are having the same issues. Good luck!
03-24-2012 01:13 PM
Thanks for sharing. I hope you have success. I just think it's weird that nowhere online can I find anyone who can say they successfully got a PDF with Pinnacle or any other company. I only see what people have "heard" or ar "hoping for". I don't think it's possible... I'm giving up.
03-24-2012 02:30 PM
Hi, Uhmm, yes its been a while, and I just got an email notification of your reply here. From what I recall I notified BBB about it, and it took them about 3-4months to get it settled. I lost an offer on a home due around Aug. 2009 because of those folks, worked with the BBB thereafter and got notified around the beginning of December that Pinnacle agreed to remove the record. By January it was gone, and I was approved for the loan which I currently hold for my home today. I hope your story plays out as well as mine! It is just sad that Verizon preys on the ignorance and frustration of customers like me leaving them for not holding up their end of the contract by providing horrible service.
04-06-2012 02:30 PM
Thanks - I'm just going to let it drop off next year. Unless when I apply for a mortgage, they insist I pay it. I'm also reading online that after 2006, they are only supposed to do $175 for early termination and subtract $5 for every month you are closer to fulfilling. I was only 1 month away. They have me down for $300. Anyhew - I'm leaving it alone. Screw 'em - they either take $100 now or $0.
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