Rebuilding Your Credit

[Cowboys72]

Ok planning to PFD Verizon via planetfeedback. They claim I owe 933 on account. This amount includes approx. 550 in early termination fees. Should I start at a figure lower than the 933 or do you think that since Verizon is OC and stillnowns full debt they will want PIF?

[kitty9779]

I'm in the same boat with Verizon. They are offering me a settlement and I'mnot sure whether to take it. 

[guiness56]

Verizon can be pretty bullheaded.

How old is the debt?

[Cowboys72]

My account show DoFD as 10/09 so about 3 years old.

[guiness56]

Do you know what your state SOL is.  If it has expired, they may be more willing to work with you.

[RobertEG]

You are asking for two concessions on their part.... CR deletion and settlement for less.

You can, of course, always include both, and get a response. With two negotiation concessions, you may not know which is a show-stopper on their part.

You might then have to decide which is more important to you... CR deletion or satisfaction of the debt, and back off of one or the other in your counter-offer.

The advantages of CR deletion are obvious.

The possible advantage of setting without CR deletion is a bit murkier, as it depends upon their next action.  They could, at any time, charge-off the debt, refer to a debt collector or sell the debt, resulting in a possible charge-off and/or collection reporting. They could also, depending upon the SOL status of the debt, choose to initiate legal action.  Lots of options on their part of which you dont have control.  With protracted offers and counter-offers, they may choose to act on their own.

Maybe someone with specific experience in negotiating with V can give some insight into their usual conduct... do they retain collection, or normally refer to a debt collector?

Are they inclined to bring legal action?