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Im Fixing my credit and two companys are killing me

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bflem55
Valued Member

Im Fixing my credit and two companys are killing me

Hello all first off I want to say thanks I started using this website around Christmas of 2011 and I have went from a score of 535 to 593 EQ TU 515  to 589 and EX 559 to 619.  I however am at a snag now I have 2 accounts one is a hh greg charge off account that is turned over to the bureaus inc. now.  I have a payment plan with them and I have payed on time for the past 1.5 years, but every month they ding me with a late payment and it basically looks like I am not paying, but the balance keeps going down.  The other account is a Macys Visa that is a charge off.  Macys deals with all there stuff in house so there is no CA.  I have had a payment plan with them for 2 years and just like the Bureaus Inc. every month they report a late payment or DQ, but the balance keeps going down.  Is this something I should email the 3 agencys?  I get no where when I contact both of the companys.  I dont see how they are allowed to do this.

Message 1 of 7
6 REPLIES 6
Booner72
Senior Contributor

Re: Im Fixing my credit and two companys are killing me

Unfortunately, from what I have read, they are reporting accurately.  The only way to get the lates to stop is to get these paid in full.

 

You could try to come up with the payoff amount and arrange a PFD with them - ie, I pay you it all now and you delete it from my reports.

 

Otherwise, you will have to GW to get them removed, and you can't do that til they're paid.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Message 2 of 7
bflem55
Valued Member

Re: Im Fixing my credit and two companys are killing me

I can pay the one off in a few months Macys on the other hand is 5500 dollars still and its a Joint acct. with my exwife and shes the primary.

Message 3 of 7
RobertEG
Legendary Contributor

Re: Im Fixing my credit and two companys are killing me

I agree that it is a crummy tactic, as you are making efforts to pay, but as long as the account remains in arrears, you remain delinquent, and they are entitled to report as such.

It indicates to me that they might be concerned about your continued payments, and are keeping the pressure on.

 

If that is their primary concern, perhaps a PFD offer would be in order, provided you can pay it off now.

Message 4 of 7
bflem55
Valued Member

Re: Im Fixing my credit and two companys are killing me

If I owe 1800 dollars what would be a reasonable offer to offer them in PFD I have heard as much as 55 percent?

Message 5 of 7
Guava
Established Contributor

Re: Im Fixing my credit and two companys are killing me

With PFD, typically you offer to pay the full amount you owed as that would give some incentive to the agency to delete. Offering to pay less than full wouldn't be good for PFD IMO. Others may have different experience and opinion.


Starting Score (08/11/11): TU08: 643
Current Score: TU08: 741
Goal Score: Stay in the 700s; keep reports clean


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Message 6 of 7
rckstrscott
Valued Contributor

Re: Im Fixing my credit and two companys are killing me


@Guava wrote:

With PFD, typically you offer to pay the full amount you owed as that would give some incentive to the agency to delete. Offering to pay less than full wouldn't be good for PFD IMO. Others may have different experience and opinion.



I think on larger accounts, it is not unheard of to PFD w/ setlement less than full. On all my accounts under a grand, I always offered a PIF/PFD letter, but I had success on a 4k collection offering about 60 percent on a PFD.

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
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