cancel
Showing results for 
Search instead for 
Did you mean: 

First Premier Settlement

Contributor

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.
Message 1 of 7
6 REPLIES
Valued Contributor

Re: First Premier Settlement

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

 

 

Scores: about 700 across the board
Total CL: $275k
Message 2 of 7
Moderator Emeritus

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 3 of 7
Regular Contributor

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?
Message 4 of 7
Established Contributor

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 Wallet:ME: Walmart 3k;Barclays Rewards 10k, Venture 18k; Slate 5k; Freedom 10k; overstock 4.8k, SGV2.5k; WEMC 20k 1.5 Rewards, Gamestop 1.2k, Fingerhut 3k; 2 NMAC Leases , 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:Fed Tax Lien
DH: 1750 capital one fh 2000, AU - VS, BH, HSN, WEMC, SPGV. Freedom, Slate, Venture, Barclays
Message 5 of 7
Highlighted
Valued Contributor

Re: First Premier Settlement

Ktm

Util is util. FICO doesn't care about settlements to my knowledge
Scores: about 700 across the board
Total CL: $275k
Message 6 of 7
Moderator Emeritus

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!

June 2017 update: All scores over 820, just pure gardening now.
Message 7 of 7