HSBC sold to LVNV Funding - pay in full or settle?

[johnnyscience]

I had an HSBC card that they charged off & sold the debt to LVNV Funding. 

I tried contacting HSBC today to pay them in full, directly so that I could then dispute the collection agency after the fact & hopefully get it dropped off my report.  They couldn't find anything in regards to the account number or my social, even after I asked for an escalated department & referred me to some new Capital One division that buys their bad debt.  I called them & they couldn't find me either, so it seems LVNV Funding does in fact securely hold this debt now?

I think I've offered LVNV Funding a PIF for deletion & they do NOT do this - if anyone knows differently or how to get them to do so, please let me know!

Since LVNV Funding won't delete the collection for a PIF, should I just try to settle with them or still pay it in full?  Obviously I'd rather give them as little as possible, but if it would help my credit score my PIF I will do so.  Total balance is roughly $455 right now. 

I've read that it doesn't really improve your score either way but some creditors may look highly upon a PIF vs Settled - but with my scores the way they are & this is just a small balanced card, is it really going to make a difference for me to make it worth shelling out an extra couple hundred dollars to PIF?

Anyone know how aggressive I can get with a settlement amount with them?  30%, 50% etc?

Since HSBC has no record at all any more of this account, can I dispute that tradeline with the 3 bureaus to hopefully get it deleted?

[SunriseEarth]

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@johnnyscience wrote:

I had an HSBC card that they charged off & sold the debt to LVNV Funding. 

I tried contacting HSBC today to pay them in full, directly so that I could then dispute the collection agency after the fact & hopefully get it dropped off my report.  They couldn't find anything in regards to the account number or my social, even after I asked for an escalated department & referred me to some new Capital One division that buys their bad debt.  I called them & they couldn't find me either, so it seems LVNV Funding does in fact securely hold this debt now?

I think I've offered LVNV Funding a PIF for deletion & they do NOT do this - if anyone knows differently or how to get them to do so, please let me know!

Since LVNV Funding won't delete the collection for a PIF, should I just try to settle with them or still pay it in full?  Obviously I'd rather give them as little as possible, but if it would help my credit score my PIF I will do so.  Total balance is roughly $455 right now. 

I've read that it doesn't really improve your score either way but some creditors may look highly upon a PIF vs Settled - but with my scores the way they are & this is just a small balanced card, is it really going to make a difference for me to make it worth shelling out an extra couple hundred dollars to PIF?

Anyone know how aggressive I can get with a settlement amount with them?  30%, 50% etc?

Since HSBC has no record at all any more of this account, can I dispute that tradeline with the 3 bureaus to hopefully get it deleted?

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I also had a CO with HSBC that was sold to LVNV.   A few years back, I settled for $400 on a balance a bit above $800.  Back then, I had no idea about PFD or GW.   When I joined these forums, I began mailing a monthly GW letter to both addresses I had for LVNV on my CRs.  After about 4 or 5 attempts, they agreed to delete the TL.   

If the creditor is unable to verify the information that is placed on your CRs, then it should be deleted if disputed.  However, please note that we don't recommend accurate information be disputed on CRs in the forums, as that is against our TOS.  

[johnnyscience]

GW is a Good Will letter you send to te creditor to get them to delete it?

These GW's are more effective than trying to negotiate over the phone?

Where can I find one to copy and send in ASAP? I just wish they would do it over the phone so I can get my credit fixed faster.

Does anyone have a specific contact at LVNV that would be willing to negotiate a deletion for a PIF?

So LVNV has in fact done deletions before? Will they generally only so that for a PIF?

[SunriseEarth]

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@johnnyscience wrote:
GW is a Good Will letter you send to te creditor to get them to delete it?

These GW's are more effective than trying to negotiate over the phone?

Where can I find one to copy and send in ASAP? I just wish they would do it over the phone so I can get my credit fixed faster.

Does anyone have a specific contact at LVNV that would be willing to negotiate a deletion for a PIF?

So LVNV has in fact done deletions before? Will they generally only so that for a PIF?

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If a CA is unwilling to accept a PFD, then paying/settling and later asking for GW removal is another strategy.   And yes GW is a goodwill letter.   There are lots of examples on the boards of the letters.   I just sent mine to the address on the CRs.

As I settled with them before I even knew what a PFD was, I'm not sure how LVNV is about PFD.  I do know that they will do GW removals if you're persistent enough.  

When I did my settlement, I did everything over the phone.  However, it's been so long ago, that I no longer have the contact information I used.  IIRC, your CRs should have a phone number for LVNV.  You could try calling that and see if they are open to PFD