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Hello
I have a plan to rebuild my credit, based off my reading here and on places like reddit's personalfinance sub. I am just wanting to confirm my logic here and make sure I am not doing anything I shouldn't be.
I have a debt in collections from Sprint on my credit report, I am not really sure when it originates from but the account is listed as 11 SPRINT, so possibly 2011? I realize it is close to falling off anyway, but I am wanting to repair my credit now because I expect to be moving within the next 18 months. It is for less than $300 but more than $100, and it is with the Diversified Consultants collection agency.
Here is my current plan:
1. Open a PO box so the CA wouldn't have my home address (Done)
2. Send a PFD request letter to the CA (using a form letter linked here in the wiki) via certified mail / return receipt requested.
(Done)
3. If the PFD is accepted by the CA, send a postal money order to pay it. However, after reading this blog post and other posts here about PFD's and Diversified, I am not very hopeful.
4. If they refuse, dispute the debt with the CRA's. I am also not hopeful that Diversified won't verify it, but as I understand, it is best to at least attempt.
5. If it is verified, contact Sprint and see if I can pay them, and have them send notice to the CA that the debt has been paid in full to the original creditor and that it can't be reported on any longer. (Does this help my credit score? I assumed so, based off some posts I've read, but not positive)
6. If I can't pay Sprint for whatever reason, what options do I have left? Just pay the CA and live with the Paid status on this collection account until it falls off? Is there anything else I could do?
I appreciate any and all help!
Thanks
@Anonymous wrote:Hello
I have a plan to rebuild my credit, based off my reading here and on places like reddit's personalfinance sub. I am just wanting to confirm my logic here and make sure I am not doing anything I shouldn't be.
I have a debt in collections from Sprint on my credit report, I am not really sure when it originates from but the account is listed as 11 SPRINT, so possibly 2011? I realize it is close to falling off anyway, but I am wanting to repair my credit now because I expect to be moving within the next 18 months. It is for less than $300 but more than $100, and it is with the Diversified Consultants collection agency.
Here is my current plan:
1. Open a PO box so the CA wouldn't have my home address (Done)
2. Send a PFD request letter to the CA (using a form letter linked here in the wiki) via certified mail / return receipt requested.
(Done)
3. If the PFD is accepted by the CA, send a postal money order to pay it. However, after reading this blog post and other posts here about PFD's and Diversified, I am not very hopeful.
4. If they refuse, dispute the debt with the CRA's. I am also not hopeful that Diversified won't verify it, but as I understand, it is best to at least attempt.
5. If it is verified, contact Sprint and see if I can pay them, and have them send notice to the CA that the debt has been paid in full to the original creditor and that it can't be reported on any longer. (Does this help my credit score? I assumed so, based off some posts I've read, but not positive)
6. If I can't pay Sprint for whatever reason, what options do I have left? Just pay the CA and live with the Paid status on this collection account until it falls off? Is there anything else I could do?
I appreciate any and all help!
Thanks
Unfortunately CA's have many ways of finding you.
If the debt is yours just pay it. Be done with it.