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Valued Member
buckeyelady84
Posts: 39
Registered: ‎09-12-2012

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 4/13 EQ-596 TU-593

Goal 620 Across the Board.
Established Contributor
madmann26
Posts: 965
Registered: ‎08-30-2012

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 649 EQ 658 FICO 5/13/2013
What's in my wallet? Cap1 PLAT AU $750; Cap1 Cash AU $500; NFCU Siggy $10000; $500 WalMart SC

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Moderator
Shogun
Posts: 7,367
Registered: ‎04-15-2011

Re: First Premier Settlement

I like madman's answer.


Starting Score: 504

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
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Regular Contributor
ktm214
Posts: 162
Registered: ‎08-24-2009

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: 173
Registered: ‎02-29-2012

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!

Wallet:ME: 400 Cap One, 300 Cap One, 300 Orchard, 900 FH, Santander Car 12k/15k, Chase Auto Loan 15/16k, VS 350, BH 300, Express 500, Avenue 250, JCrew 300, HSN 500
DH: 300 Cap One 400 Cap One 300 Orchard 600 FH. AU - VS, BH
Established Contributor
madmann26
Posts: 965
Registered: ‎08-30-2012

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 649 EQ 658 FICO 5/13/2013
What's in my wallet? Cap1 PLAT AU $750; Cap1 Cash AU $500; NFCU Siggy $10000; $500 WalMart SC

Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Moderator
Shogun
Posts: 7,367
Registered: ‎04-15-2011

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

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
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