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Established Member
ReachingMyGoals
Posts: 59
Registered: ‎10-11-2012
0

PFD Clarification and more...

I have been researching the boards more and am becoming a bit confused.  Will someone help me understand PFD a little clear?  Please...*pouting*  LOL

 

So I'm reading on one post that a PFD request could be less than the entire amount owed?  Is that correct?

 

My State SOL is 6 years, if 6 years has past, would it be wise to still offer a PFD to the OC or CA? Or should I pay and then GW?

Also if the SOL is 6 and the fall off is 7, how is the CR being affected? (I hope you understand that question)

 

I'm still a bit foggy on somethings.  With a multitude to glean from it can be a bit overwhelming.  I have 2 accounts that I really would like to clear up possibly by PFD if that is the smartest way to go.  I want to purchase a car around this time next year and want to do so knowing full well I won't have to settle for something just because of the CR.

 

Please advise.

Valued Contributor
annielorie
Posts: 1,206
Registered: ‎02-19-2012
0

Re: PFD Clarification and more...

Start negoitiating the PFD for a lesser amount explain its out of SOL but dont pay until u have letter confirming PFD also the one that expires in 2013 will be excluded from your credit report exactly 7 yrs 180 days from DOFD. Is the OC REPORTING as well as the CA


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Established Member
ReachingMyGoals
Posts: 59
Registered: ‎10-11-2012
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Re: PFD Clarification and more...

Yes they are both on the report.  It appears that my DOFD keeps changing.

 

Re: PFD Clarification and more...

Start negoitiating the PFD for a lesser amount explain its out of SOL but dont pay until u have letter confirming PFD also the one that expires in 2013 will be excluded from your credit report exactly 7 yrs 180 days from DOFD. Is the OC REPORTING as well as the CA


Starting Score: 0 Current Score: TR??FICOEQ ?? FICO Goal Score: 760Lowes2,400 Discover More 2,000 Jcpenny 1,800 Chase freedom 500 1st Premier 300 Never take NO for an answer!!
Established Member
ReachingMyGoals
Posts: 59
Registered: ‎10-11-2012
0

Re: PFD Clarification and more...

Sorry your signature ended up in my signature.  I don't know how properly quote here.

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
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Re: PFD Clarification and more...

A PFD is a type of GW.  You are asking them for a GW if you pay the account.  As to whether you pay in full or settle is kind of a tossup.  It does work best however if you are outside the SOL sometimes.   You can state that you know that this account is past the SOL and is nearing the time it will fall off your CR.  However you want to show good faith and pay them some money, if they will return the GW and delete your account.  I've personally had success with this.  It is a win/win for you both.  They get paid/ you get your CR clean of their reporting.  

 

I hope that answers your question.  If not, ask again.  We love to help!


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Established Member
ReachingMyGoals
Posts: 59
Registered: ‎10-11-2012
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Re: PFD Clarification and more...

Shogun...thank you so much

 

Ok...It took me a while to get things together.  I am still a bit confused.. So please help where you can.

This information is from EQ:

AAoA 5 years, 11 mos

 

16 negatives

 

A few transfer/sold educational loans that are currently in school deferrment status

 

Redeemed or Reinstated Repossession w/ a DOFD of 3/2009 due to come off 6/ 2015

Lane Bryant showing Closed but Transfer/Sold Pays As Agreed.  This account is w/ a CA.  It is acutally showing 3 times on my CR.  Asset Acceptance and LVNV

Target CO now currently with Midland

A Paid Collection for Cap 1 w/ a CA DOFD was 8/2006

Medical Paid Collection

 

I would like to work with the ones that have been paid getting those removed.  Then move to PFD's for the Target and Lane Bryant.  Will I be able to GW Wells Fargo?

 

That would only leave my student loans to keep up with.  Thank you in advance for your feedback.

Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
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Re: PFD Clarification and more...


ReachingMyGoals wrote:

Shogun...thank you so much

 

Ok...It took me a while to get things together.  I am still a bit confused.. So please help where you can.

This information is from EQ:

AAoA 5 years, 11 mos

 

16 negatives

 

A few transfer/sold educational loans that are currently in school deferrment status

 

Redeemed or Reinstated Repossession w/ a DOFD of 3/2009 due to come off 6/ 2015 - Is this a car repossession? If so which company?

Lane Bryant showing Closed but Transfer/Sold Pays As Agreed. - This might not be a negative listing, was it sold and charged off? Is there a colleciton on there for this? 

This account is w/ a CA.  It is acutally showing 3 times on my CR.  Asset Acceptance and LVNV - Do both of these collections show a balance? Only one will be able to report an outstanding balance.

Target CO now currently with Midland - Does the Target account show a balance? Likely this account has been sold, and you will not be able to work with Target. You should send a DV; have you ever received a dunning notice on this?

A Paid Collection for Cap 1 w/ a CA DOFD was 8/2006 . Is the Cap1 and the collection showing? You could GW this on both, but the CO and CA will likely fall off between 9 and 14 months at this point.

 

Medical Paid Collection - Send a GW - Who is the company? Was it paid in full or settled?

 

I would like to work with the ones that have been paid getting those removed.  Then move to PFD's for the Target and Lane Bryant.  Will I be able to GW Wells Fargo? You will not be able to PFD the OC if they have sold the debt. Once they have sold it, they no longer own it, the CA does and they cannot accept payment. You can GW them, but CO's are harder to GW than a paid collection

 

That would only leave my student loans to keep up with.  Thank you in advance for your feedback.


 

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
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New Member
ellicel
Posts: 28
Registered: ‎09-30-2012
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Re: PFD Clarification and more...

ReachingMyGoals, I'm new too but I just want to commend you on getting educated and getting advice before proceeding. My ADD self got on here and learned about PFD letters then went happily off to write and send them only to come back to the boards and discover I should have disputed first. Duh! So I commend you for doing things right and wish you the best of luck!

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Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: PFD Clarification and more...

rockstrscott gave you some good information there.   Take each of your negatives and put them into 2 categories.  Paid and unpaid.   Your paid accounts need GWs sent, unpaid PFDs.   Look over each of those tradelines very carefuly.  Look for any mistakes or what could be wrong information.


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July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: PFD Clarification and more...


ellicel wrote:
ReachingMyGoals, I'm new too but I just want to commend you on getting educated and getting advice before proceeding. My ADD self got on here and learned about PFD letters then went happily off to write and send them only to come back to the boards and discover I should have disputed first. Duh! So I commend you for doing things right and wish you the best of luck!

What basis would the disputes be?

 

Disputing for no reason isn't advisable on many levels.

 

The main reason is, if you dispute and its validated, you may have destroyed any chance for PFD or GW because you basically stated they are showing improper information on your report. 

 

I don't disagree with disputing if there is a reason to dispute, but CRA disputes are iffy at best, not to mention they are sanatized through computer system that breaks it down to coding.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX

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