First National Collection Bureau & First Premier

jramos402 · ‎03-22-2014

Yesterday I received a dunning/settlement letter from First National Collection Bureau. The OC is First Premier Bank for a $452 charge off I have. The letter says they will accept 50% of the debt in 5 payments of $45.23. The First Premier charge off is scheduled to fall off my reports next year and I dont want anything new popping up from it either. As of right now First National Collections hasnt reported anything to the CRAs as they still arent on my reports. My questions are, has anyone dealt with them before?? Are they easy to work with as far as getting a PFD or in this case I want to try and accept the settlement with the condition that they keep it off my reports. Is that a good idea or not?? Should I DV them first though or should I try and pay First Premier instead??

babychick02 · ‎03-23-2014

Validate the debt with th OC(First Premier) if possible. This account is approx 6 yrs old? Attempt to make a PFD arrangement with them first. They may have "sold" or "transferred" the account to the CA. I'm not sure the CA has much leverage on an account that is 6 yrs old as far as collection. If the CA reports the debt, dispute it with the CRA and ( in my personal experience with a medical debt) it will usually be removed. However, the OC will be listed as a CO until the 7-7.5 yr legal reporting time unless you can make some arrangments with them directly. Be very careful in making payments to the CA (should you go this route) without WRITTEN proof that they will delete the account from your report(get this first), because this can reset the "clock" on this debt and it will haunt you several more years. ...and as always, dispute all items with the CRA's and they must by law, remove the account if no validation is recieved (30 days). Best of luck

Melanie220 · ‎03-23-2014

Is FNCB reporting or FPB? I had a ca from FNCB for Direct TV I paid the settlement and gw them, and they removed the acct.

jramos402 · ‎03-23-2014

@Melanie220 wrote:
Is FNCB reporting or FPB? I had a ca from FNCB for Direct TV I paid the settlement and gw them, and they removed the acct.

FPB is the only one reporting as of now with it scheduled to fall off the middle of next year. FNCB hasnt reported anything as of yet. My guess is they are waiting for the 30 day dispute period to pass before they start reporting it.

jramos402 · ‎03-26-2014

So I sent a PFD to First Premier and received their response today in which they told me that they do not remove accounts from ones credit reports in exchange for payment and that they advise the CAs to do the same. So what should I try next? As I mentioned before, the charge off is set to fall off my reports the middle of next year and the CA sent me a settlement letter but has yet to report anything to the CRAs. Im scared if I pay they will want to report and update to paid and then the CA will remain on my report for 7 years. If I dont pay First Premier or the CA, and the CA decides to report their collection, they must delete at the same time First Premier does dont they since the chargeoff would have been over 7 years old by then, is that correct??

MsLapupe · ‎04-17-2014

I am in the EXACT boat as you with timing (6 yr old acct), OC, CA, everything. FPB is reporting, but not FNCB. I also sent a PFD delete letter to FPB and got a polite response that said we do not delete trade lines. FNCB also offered me a 50% settlement. Interestingly on the letter it says that FPB is offering the settlement. I am considering sending a PFD to FNCB just to at least try to get FPB off my report. However, in this boat we are in, I, too, am concerned that I will suddenly have a brand new shiny "settled" account pop up on my reports.

Did you do anything? If so, what's happened since?

Any advice anyone is willing to offer is welcome!!

jramos402 · ‎04-18-2014

I got absolutely nowhere with FPB as far as a PFD is concerned. I emailed back & forth with them several times pleading my case but each time she made it clear that they would not delete no matter what. I even asked them that in exchange for payment, they re open my old account and bring it current so Id still have credit with them. Got denied for that as well. The ONLY good thing that came out of this is that I was able to get them to retract the collection from FNCB. Me personally, Im going to just leave it alone now and request early deletions from the CRAs once theres about 4 or 5 months left for it to fall off.