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gtnitright
Regular Contributor

FMS

Has anyone had any luck with PFD with FMS INC. They sent me a settlement notice for a Macys acct I had back in 2009. It's my acct. It's the last baddie on my acct and I want to take care of it but I want it removed. Any recent updates from anyone?
Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 1 of 9
8 REPLIES 8
xaiduz114
Regular Contributor

Re: FMS

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: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 2 of 9
gtnitright
Regular Contributor

Re: FMS

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! 

Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 3 of 9
xaiduz114
Regular Contributor

Re: FMS


@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. Smiley Happy

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: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 4 of 9
Shogun
Moderator Emeritus

Re: FMS


@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. Smiley Happy


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.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 9
xaiduz114
Regular Contributor

Re: FMS


@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. Smiley Happy


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 Smiley Happy

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: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 6 of 9
gtnitright
Regular Contributor

Re: FMS

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.
Starting Score : EQ 635. TU 632 EX 635
Goal Score: 700. br >
.Nordstrom $800 Loft/$800 Cap 1/$3900 Amex BCE $9000br >
Message 7 of 9
xaiduz114
Regular Contributor

Re: FMS


@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: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 8 of 9
Shogun
Moderator Emeritus

Re: FMS


@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.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 9 of 9
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