Could I be successful with a PFD?

[thatfella442]

Hello everybody,

I am completely new to this whole credit thing but would like to learn as much as possible about it as I really need to get my credit in order. To make a long story short, MRS sent me a settlement offer of a "One time payment of $492.63" on a $1402.60 Capital One debt.

How successful do you guys think a PFD letter would be offering $500?

In their letter, as stated, they're offering for me to pay $492.63 at once, OR $317.59 in two payments, OR a monthly payment to cover the full debt.

Please advise before I craft something together.

Thank You!

[DiabolicallyRandom]

I am not familiar with that CA.  Is it reporting on your reports? Do you know the date of first delinquency? Do you know if it is still within your states statute of limitations for suing? That sounds like a fairly cheap offer for something recent. I would really try to avoid any sort of payment plan because that would most likely reset the SOL and if something were to happen and you missed a payment they could then sue you.  

[thatfella442]

Thank you for your quick reply!

Unfortunatly I am not quite sure, guess it would help if I pulled my credit report. I just tried to do my free yearly one but that didn't work with identification so I guess Ill have to send em a letter asking for it. I will definitely report back though!