25% PFDs on Recent Debts

[GameMaster1564]

I have three debts that I am thinking about paying 25% of the debts in exchange for PFD.  Please note that these debts are recently charged off as recent as last year. I have listed them below 

1. Verizon Wireless

Still with OC

Balance: $769

2. Capital One CC

Still with OC

Balance: $582

3. Best Buy CC (HSBC)

Been through three different JDBs (Currently with Midland)

Balance: $1228

My plan is to pay 25% of the balances and have them deleted. If a PFD wont work, I would want them to be  atleast marked "PIF" or "paid as agreed", not as a "paid collection" or "Settled for less than full". The question is are these debts too new to even attempt any sort of settlement? Im also curious as how will Verizon and Cap One will accept my offers as they are the OCs. 

[gdale6]

Your odds of this with them being so new is 0%. These are still withing your states SOL and they can decide to just sue you for the full amount. If you dont have the funds to PIF I would not contact them for any deal.

[EW800]

I hope I am wrong, but I think the chances of any of them doing a PFD for just 25% is pretty much zero.  There needs to be somewhat of an inventive for them to do this, and I just don't think 25% is going to get them excited.  

Let us know how it goes!

[GameMaster1564]

I was afraid it would be slim to none. I'm just so desperate to fix my credit ASAP and I'm not even planning to buy anything major in the fnear future. 

Thanks for the replies

[RobertEG]

You are asking them to make two concessions.  First, accept less than the full debt, and second, act contrary to their credit reporting agreement with the CRA by deleting reporting based on satisfaction of the debt.  A higher offer would most likely be required, but hard to say.

A charge-off is often a precursor to sale of the debt to recoup a bit more of what they have determined to be a total loss.

Thus, the more significant factor may be the chance of the OC accounts also being sold and then reported by a debt collector, with the addition of two new collections.

I would also be concerned about more damage, and consider paying the OC before they sell or refer for collection.

[buildafico]

Yeah Id say pretty much zero chance of success there. Like RobertEG said I'd be more concerned with setting up some kind of arrangement with the two that are with the OC. I can't see midland taking any less than 75% at this point. Just my opinion.