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Contributor
Posts: 84
Registered: ‎09-12-2012
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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
Posts: 1,541
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 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Moderator
Posts: 13,761
Registered: ‎04-15-2011
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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
Posts: 226
Registered: ‎08-24-2009
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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?
Frequent Contributor
Posts: 475
Registered: ‎02-29-2012
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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!

building since 2011 EX 714, EQ 729, TU 724 3/11/15
Wallet:ME: Barclays Rewards 10k, Venture 18k; Slate 5k; Freedom 10k; overstock 4.8k, SGV2.5k; WEMC 20k 1.5 Rewards, Gamestop 1.15k, Fingerhut 3k; 2 NMAC Leases at less than 1% APR, VS 1.75k, BH 1.62k, Express 1.6k, Avenue 1.75k, JCrew 5k, HSN 1.47k, Torrid 1.55k, Roamans 1.4k, Jessica London 1.54k, kings direct 1.7k, Buckle 1.4k, WW 1.65k, ........ baddies: 1FP CO 08 coming off 5/15,
DH: 1750 capital one fh 2000, AU - VS, BH, HSN, WEMC, SPGV. Freedom, Slate, Venture, Barclays
Valued Contributor
Posts: 1,541
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 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Moderator
Posts: 13,761
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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