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Contributor
buckeyelady84
Posts: 84
Registered: ‎09-12-2012
0

First Premier Settlement

Hello from reading the boards I've noticed that people have been unable to PFD First Premier. I want to settle my husbands 5 year old FP charge-off. fP still owns the debt. How much should we offer to settle on a $365 debt? 

Starting 8/12 EQ- 522, TU 542. Current 5/14 EQ-664 TU-686 EX-unk
Goal to keep building up my credit.
Valued Contributor
madmann26
Posts: 1,434
Registered: ‎08-30-2012
0

Re: First Premier Settlement

I'd start with 50%. Usually you'll end up with settling for about 65% but you may get lucky.

 

 


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: First Premier Settlement

I like madman's answer.


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!
Regular Contributor
ktm214
Posts: 226
Registered: ‎08-24-2009
0

Re: First Premier Settlement

Would the settle for less than full amount hurt or, is this a case of 6 of 1, half dozen the other?
Regular Contributor
dobirdsmommy
Posts: 219
Registered: ‎02-29-2012
0

Re: First Premier Settlement

FP factors heavily into your utilization. They are still open on my CR. I live in NY so there is that lovely 5 year rule that I will pay them exactly 5 years from my DOFD which is 2008 and make them poof with a lot of fighting from the CRA. I am fully aware of the wording and grey area but until then they are killing my utilization!

2011 starting score 383 pull for Santander, EX 639, EQ 669, TU 651 (lending club pull)
Wallet:ME: 750 Cap One, 5k Quicksilver/rewards, 750 Capital one 2000 FH, Santander Car 9.8k/15k, Chase Auto Loan 12/16k, VS 1150, BH 1020, Express 1000, Avenue 750, JCrew 800, HSN 1070, Torrid 700,Roamans 800, Jessica London 940, kings direct 800, Buckle 800, OSP 1050, WW 1050, Solutions 800, Blair 750.. baddies: 2 FP CO 08, EXP 2 state tax liens 1 fed, EQ 1 fed tax lien, TU 1 state 1 fed tax lien.
DH: 750 Cap One 750 Cap One 750 capital one fh 2000, AU - VS, BH, HSN, QS 5k
Valued Contributor
madmann26
Posts: 1,434
Registered: ‎08-30-2012
0

Re: First Premier Settlement

Ktm

Util is util. FICO doesn't care about settlements to my knowledge

Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $2.1k; NFCU Cash Rewards $22K; AMEX BCE $18k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k; Chase Freedom $4.5k
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: First Premier Settlement

The settlement is a notation in the comments that is seen under manual review.  FICO scores don't care if it's PIF or settled.


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!

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