Please HELP if you can.....

tdyches · ‎03-09-2008

I have 2 outstanding collections onmy credit report. I was informed not to pay thme by my mortgage broker when my wife and I refinanced our house last January, because he said it would reactivate our debt??? Is this truee, and is there a way I could call these guys and pay this and have them remove the collections from my credit report? YThis is what I owe, and the sad part is that this debt is peanuts and it's killing me. I wasnt even aware of it until we pulled FICO before the Refi.

Original balance [?] $85
Current balance [?] $85
Status [?] Unpaid
Date assigned [?] Nov 01, 2004
Date reported [?] Feb 01, 2008
Date last active [?] Aug 01, 2003
-------------------------------------
Original balance [?] $32
Current balance [?] $32
Status [?] Unpaid
Date assigned [?] Jul 01, 2003
Date reported [?] Nov 01, 2003
Date last active [?] Feb 01, 2003

Are these worth paying or should I wait for this to drop?

Todd

Anonymous · ‎03-09-2008

Couple of different ways to go.

DV and if it comes back validated........send PFD.

Or just send PFD as I did. I had a few small ones that I just wanted gone. So I sent PFD.

You can check SOL first, but that is up to you. I didn't bother checking SOL on my small ones that I did DV or PFD b/c in worse case scenario and they filed suit, I'd just pay before court.

What is DOFD? Or does it say when they'll be removed from your report? My spouse has a few small ones with a bad CA that are falling this year, after they fall, we'll just send payment. Not going to mess with PFD with them because they are hard to work with.

Message Edited by sidewinder on 03-09-2008 05:42 PM

tdyches · ‎03-09-2008

I would say thank you for the response, but I am not surte what all of those abbreviations are. I am brand new here, and it is obvious that I am blissfully ignorant of the jargon here.

Wouold you mind explaining that in laymans terms or direct me to a key for understanding that.

Anonymous · ‎03-09-2008

tdyches wrote:
I would say thank you for the response, but I am not surte what all of those abbreviations are. I am brand new here, and it is obvious that I am blissfully ignorant of the jargon here.
Wouold you mind explaining that in laymans terms or direct me to a key for understanding that.

Hi tdyches,

A guide to common abbreviations can be found by selecting below link:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=52625

Anonymous · ‎03-09-2008

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=38534

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=3866

tdyches · ‎03-09-2008

AAHHHHH... I just got back from finding that. I thnank you guys very much. An informative read indeed!

So is there a specific way I can do a PFD... or do I just call them and say hey I'll pay if you drop this off my credit?.... and if they refuse? Any recourse for that? Does my date of last activity restart?

Anonymous · ‎03-09-2008

tdyches wrote:
AAHHHHH... I just got back from finding that. I thnank you guys very much. An informative read indeed!

So is there a specific way I can do a PFD... or do I just call them and say hey I'll pay if you drop this off my credit?.... and if they refuse? Any recourse for that? Does my date of last activity restart?

Here is another link with a wealth of information about PFD's:

Pay for Delete Example Letter (PFD):

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2659