PFD Example Letter

[Anonymous]

Hi Toscani and Community:

Relieved to find a trustworthy community willing to share with others! You hear about these credit repair companies and I am very skeptical because I know what they do we have to be able to do as well-right? You appear to have proverbial strengths in this area!! I have went through the process of disputing these negative items for years but the companies respond to CA to validate.. Here's my issue, I have 11 neg.items How best should I address for some traction please???

BOA open 2008 Chargeoff 11/09  ;sold this account to Calvary who reports monthly i am delinquent as recent as of 11/14 

Citibank Student Loan-Paid Closed but reports me 2 past due  with 6 different education accounts and 2 entries of Past due on each for same dates.

HSBC Bank-opened 5/2008;chargeoff 7/10 and purchased by another company;

Macy's-reports me past due 3 times

JCP-reports me past due 1 times

Help!! What should I do-what letters should I send where? Success with removal with any of these companies?

Thanks for the knowledge share!

[Anonymous]

---

@Tuscani wrote:

Below is an example PFD (Pay for Delete) letter you can use.

-----

Collection Agency
1212 Maple St
City, State Zip

Re: Collection Account for Original Creditor Account #: 00000xxxx

Amount: $25.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my Experian credit report – which omits the last few digits.

In the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Collection Agency in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

Collection Agency agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

If you agree to the above terms, please prepare a letter on your company letterhead explicity agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

You
123 Any Street
City, State Zip

Please keep in mind that a PFD is a type of good will letter.  Do not use the word dispute anywhere in the letter or it can cause problems.  Also, you cannot give the CA/creditor any time limits on removing the debt if they chose to do so, or tell them who they can and cannot speak to. 

Do not use any threatening language such as requesting validation if they do not accept your PFD.

It is not necessary to send it CMRRR as it makes it looks forced.

guiness56, myFICO Moderator

Message Edited by Tuscani on 04-29-2007 09:55 AM

Message Edited by Tuscani on 04-29-2007 02:10 PM

---

Im so sorry but i dont get it. I see that the text in the blue says dont mention the word dispute or give a timeline; this letter does both. Is this a good example or a bad example? Im trying to find a template for email purposes to send to me CA's.

[Anonymous]

This is great information, thank you but how would saying "validity of this debt is disputed. I am not sure of the account number" work if several payments were already made on the account prior to it going into collections and being charged off by the creditor? 

[Lasardo]

This is all you need:

Disputes under FCRA 611(a)(a) of the accuracy of information contained in CR sent the CRA for investigation.

Disputes under 623(a)(8) of the accuracy of info contained in ur CR are sent to the party who furnished the information.
Simply say:
This is a direct dispute under the provisions of the FDCA 623(a)(8)(D) of credit reporting. This is not a request for debt validation.
In compliance with FCRA (a)(8)(D) and enacting regulations published at CFR s 660.4 this notice of direct disputes includes;
Identification of info being disputed
Basis for dispute
Supporting documentation
If you do not have all of that just say the above without details. Without the account number reference your ss#.
Good luck

[Anonymous]

I was wondering the same thing, but I haven't been able to find an anwer for that question or any other PFD letter without that wording in it. Have you had any luck finding out the answer?

[mariposa7678]

I'm looking for a good PFD letter, i'm confused with this one too

[gdale6]

---

@mariposa7678 wrote:

I'm looking for a good PFD letter, i'm confused with this one too

---

Try this thread it goes into detail  http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

[mariposa7678]

Thanks ill look

[Lasardo]

I left different examples for each type of dispute.

in a dispute letter all you basically have to say is, "this is disputed"..

[sisyphuswins]

---

@Tuscani wrote:

Below is an example PFD (Pay for Delete) letter you can use.

-----

Collection Agency
1212 Maple St
City, State Zip

Re: Collection Account for Original Creditor Account #: 00000xxxx

Amount: $25.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my Experian credit report – which omits the last few digits.

In the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Collection Agency in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

Collection Agency agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

If you agree to the above terms, please prepare a letter on your company letterhead explicity agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

You
123 Any Street
City, State Zip

Please keep in mind that a PFD is a type of good will letter.  Do not use the word dispute anywhere in the letter or it can cause problems.  Also, you cannot give the CA/creditor any time limits on removing the debt if they chose to do so, or tell them who they can and cannot speak to. 

Do not use any threatening language such as requesting validation if they do not accept your PFD.

It is not necessary to send it CMRRR as it makes it looks forced.

guiness56, myFICO Moderator

Message Edited by Tuscani on 04-29-2007 09:55 AM

Message Edited by Tuscani on 04-29-2007 02:10 PM

---

I am really really confused.   You say don't use the word "dispute" but it's there in the first line of the letter.   And you say don't say you'll request validation if they don't accept the PFD, but again it's right there in the penultimate paragraph.   And you say don't put time limits, but there they are, in two places.   So, is this an awesome letter, as all the comments indicate, or is it an awesome example of what not to do?    I'm trying to put a PFD letter together for my BF's Capitol One account and i found this through a search, but it's made me more confused than when I started.