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Have you contacted FMS yet at all about it? Also, what is the SOL for your state and what is the debt's DOFD?
A little more info, and I may be able to help a bit, though I don't have any personal experience with them.
Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014 Current Score: EQ 475 | EX 582 | TU 589 Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey! | Collections (MED): DCS Financial (4) | Columbia Collectors (1) | Dynamic Collectors, Inc (2) | Professional Credit Services (2) | CMRE Financial Services (1) | Total: 10 Charge-offs: | Cards I'm aiming to get: |
I haven't contacted them yet. I'm a little nervous about that but I'm also ready to tackle this one as it's my last collection on all three bureaus.
The DOFD is Sept 2010. i think the SOL Iin Tx is 3yrs. I was hoping someone had recent experience with the CA that could tell me if they will PFD.. I appreciate any help I can get!
@gtnitright wrote:I haven't contacted them yet. I'm a little nervous about that but I'm also ready to tackle this one as it's my last collection on all three bureaus.
The DOFD is Sept 2010. i think the SOL Iin Tx is 3yrs. I was hoping someone had recent experience with the CA that could tell me if they will PFD.. I appreciate any help I can get!
The SOL is showing as 4 years. I know Texas has a special thing about deletions after the SOL is up, I think it's that once the debt is outside of the SOL, you can dispute them and have them deleted, or something like that. I don't know the specifics on it. Another member might, though.
What was the offer? Was is a PIF or a percentage? Did they offer a payment plan? If you have the funds to PIF, maybe try negotiating for 65% of the debt instead of 100%, if you aren't planning on waiting until September when the SOL is up. Then again, I'm not sure on the whole Texas thing. I'd wait for someone who knows a bit more.
Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014 Current Score: EQ 475 | EX 582 | TU 589 Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey! | Collections (MED): DCS Financial (4) | Columbia Collectors (1) | Dynamic Collectors, Inc (2) | Professional Credit Services (2) | CMRE Financial Services (1) | Total: 10 Charge-offs: | Cards I'm aiming to get: |
@xaiduz114 wrote:
@gtnitright wrote:I haven't contacted them yet. I'm a little nervous about that but I'm also ready to tackle this one as it's my last collection on all three bureaus.
The DOFD is Sept 2010. i think the SOL Iin Tx is 3yrs. I was hoping someone had recent experience with the CA that could tell me if they will PFD.. I appreciate any help I can get!
The SOL is showing as 4 years. I know Texas has a special thing about deletions after the SOL is up, I think it's that once the debt is outside of the SOL, you can dispute them and have them deleted, or something like that. I don't know the specifics on it. Another member might, though.
What was the offer? Was is a PIF or a percentage? Did they offer a payment plan? If you have the funds to PIF, maybe try negotiating for 65% of the debt instead of 100%, if you aren't planning on waiting until September when the SOL is up. Then again, I'm not sure on the whole Texas thing. I'd wait for someone who knows a bit more.
Texas SOL is 4 years. It does not have anything special about deletions after the SOL is up. There is a Texas Finance Code that supercedes the regular DV process that has more teeth than the FCRA. It gives them 30 days to respond to the DV or they must delete. Also, the DV does not have to be timely, ie. within 30 days of receiving a dunning notice.
@Shogun wrote:
@xaiduz114 wrote:
@gtnitright wrote:I haven't contacted them yet. I'm a little nervous about that but I'm also ready to tackle this one as it's my last collection on all three bureaus.
The DOFD is Sept 2010. i think the SOL Iin Tx is 3yrs. I was hoping someone had recent experience with the CA that could tell me if they will PFD.. I appreciate any help I can get!
The SOL is showing as 4 years. I know Texas has a special thing about deletions after the SOL is up, I think it's that once the debt is outside of the SOL, you can dispute them and have them deleted, or something like that. I don't know the specifics on it. Another member might, though.
What was the offer? Was is a PIF or a percentage? Did they offer a payment plan? If you have the funds to PIF, maybe try negotiating for 65% of the debt instead of 100%, if you aren't planning on waiting until September when the SOL is up. Then again, I'm not sure on the whole Texas thing. I'd wait for someone who knows a bit more.
Texas SOL is 4 years. It does not have anything special about deletions after the SOL is up. There is a Texas Finance Code that supercedes the regular DV process that has more teeth than the FCRA. It gives them 30 days to respond to the DV or they must delete. Also, the DV does not have to be timely, ie. within 30 days of receiving a dunning notice.
Thanks, Shogun. Now I'll note that in my BIG NOTEBOOK OF IMPORTANT STUFF TO REMEMBER. lol
Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014 Current Score: EQ 475 | EX 582 | TU 589 Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey! | Collections (MED): DCS Financial (4) | Columbia Collectors (1) | Dynamic Collectors, Inc (2) | Professional Credit Services (2) | CMRE Financial Services (1) | Total: 10 Charge-offs: | Cards I'm aiming to get: |
@gtnitright wrote:
Thanks everyone. I don't think I need DV. I know it's mine. They offered a settlement of 50% or 3 payments or PIF.. I'll give them a call.
Do what you feel is best for you. if you have the funds, I'd suggest PIF, if not, wait until the SOL is up in September to pay... Don't want them to come back at you for the rest of the payment because a partial payment now reset the SOL... D: That's my personal opinion, though.
Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014 Current Score: EQ 475 | EX 582 | TU 589 Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey! | Collections (MED): DCS Financial (4) | Columbia Collectors (1) | Dynamic Collectors, Inc (2) | Professional Credit Services (2) | CMRE Financial Services (1) | Total: 10 Charge-offs: | Cards I'm aiming to get: |
@xaiduz114 wrote:
@gtnitright wrote:
Thanks everyone. I don't think I need DV. I know it's mine. They offered a settlement of 50% or 3 payments or PIF.. I'll give them a call.Do what you feel is best for you. if you have the funds, I'd suggest PIF, if not, wait until the SOL is up in September to pay... Don't want them to come back at you for the rest of the payment because a partial payment now reset the SOL... D: That's my personal opinion, though.
If they have a settlement letter in writing then I wouldn't worry about partial payment. It would make the balance as $0. There is no SOL for a $0 balance. Just make sure you hang on to the settlement offer.