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Does Pfd restart the clock if denied?

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UpmyscoreinFL
Frequent Contributor

Does Pfd restart the clock if denied?

I have a 270.00 gym collection that is atleast three years old. If I send a Pfd and it is denied will that restart the clock?
Equifax my fico 629
Transunion my fico 669
Experian fako 663
Message 1 of 4
3 REPLIES 3
currentlywinning
Frequent Contributor

Re: Does Pfd restart the clock if denied?

No. The clock is set from the date of the first delinquency.

Just keep swimming...just keep swimming...just keep swimming, swimming, swimming....
Message 2 of 4
Anonymous
Not applicable

Re: Does Pfd restart the clock if denied?

Its an offer ... to pay the debt to get the mark deleted
from your CR. You don't even have to acknowledge its
yours. The key is is you don't pay until you get an
agreement in writing.

On another note I'm not exactly sure what you're
asking but ill answer two possibilities. As far as credit
reporting go nothing can re-age the debt its gonna
come off when it come off in relation to the Dofd as
mentioned.

As far as legal action you usually pif for pfd so you
would pay the full 270 so hence you wouldn't be concerned
with that anyway. Its also a small amount not worth
chasing you down for.
Message 3 of 4
Anonymous
Not applicable

Re: Does Pfd restart the clock if denied?


@currentlywinning wrote:

No. The clock is set from the date of the first delinquency.


Careful. I just learned in TX, acknowledging the validity or liability of the debt can reset the SOL. Doesn't change the reporting part of it, but can open you up to legal liability.

 

I used language like, "This letter is not an acknowledgement of liability of this debt" or some such.

 

EDIT: Agree that $270 will probably not land you in court Smiley Happy

Message 4 of 4
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