First premier bank attempt

[tipofthespork]

So I wrote FPB a PFD letter about 2 weeks ago (I know big waste of time). Of course they said we don't exchange payment for deletions....blah blah blah.

So I wrote a new letter last week and gave them a few offers. I offered

To pay 100% for a deletion
50% to report as paid in full or
25% to settle and report as settled for less than full amount.

It's still factoring into my UTI at 167% so even a settled for less would be better than currently.

Today I got a letter back saying we don't delete...blah blah blah. And that they will not respond to anymore requests to do so.

Thoughts?

[RobertEG]

If you pay, regardless of amount, the current status must report Paid.

If they settle for less than the full debt, they are entitled to additionally report a "paid for less" Special Comment recording that fact. Paid with no such special comment does not place the issue of amount paid for satisfaction of the debt into your credit file.

So, as a counter-offer, you may have more success getting their agreement not to report rather than to delete.

If you still wish to offer less, include the offer as being contingent upon their agreement not to report any Special Comment of paid for less.

Then the current status will simply reflect Paid, and will read the same as if paid in full to anyone reviewing your CR.

[tipofthespork]

Thanks Robert.

Anyone had any dealings with settling with them? How much should I offer?

It's $411 charge off from June 2007. Outside VA SOL.

Looks like I'm gonna have to make all the offers till they accept one. At the end of my 2nd letter I said I'd be open to any counter offers and got nothing about it in the return letter

[jordanmedical]

I have a 410 balance with them and called the settlement dept. I was told they don't settle for less than 50% but because my acct is so old (2005 C/O), I had to call Monday to speak to a special collections debt. Since the damage has already been done, all I care is that they report $0 so it stops hurting my utilization.

[distantarray]

iif it's a 2005 charge off why pay as it'll fall off the report in a few months if it's reporting otherwise a complaint to the ftc should remove it through illegal re-aging which they did to me.