Reply
New Member
Posts: 3
Registered: ‎09-03-2012
0

Game plan after getting offer from Portfolio Recovery

Got a letter from Portolio (first I've ever seen from them) with an offer to settle old credit card debt 5 years ago (4 years SOL in California). Offer is for $130 (orig $200). Special tax season offer... interesting.

 

Anyways, I want to pay it and want to get it deleted off reports.

 

Gameplan:

1.) Send Goodwill/pay for delete letter 

2.) Send a money order of $130 (can track if it gets cashed. Good idea)

3.) Wait...? 

 

Thoughts? 

Epic Contributor
Posts: 20,645
Registered: ‎03-19-2007
0

Re: Game plan after getting offer from Portfolio Recovery

There is always benefit to satisfaction of delinquent debt, so just paying has its benefits.  It wont improve your credit score, but might improve your chances for future credit, as unpaid delinquent debt can be a show-stopper regardless of FICO score.  You can then pursue a GW request after satisfaction, but most likely with a lower chance of voluntary deletion.

 

If earlier CR deletion, and thus score improvement, is a definate requirement, then counter wth a PFD offer.

However, that counter-offer is a non-acceptance of their offer.  They may take it off the table. 

 

If you dont plan to app for new credit in the next two years, you can wait for CR exclusion, and thus shield the unpaid debt from discovery by a simple pull of your CR, but that does not ensure that it wont be uncovered by other means.

 

Personal decision.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.