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Is it past the SOL? If so, I would kindly write back and offer again to pay the amount if they delete. I've heard PFD sometimes work best at the end of the month because agents need to make their monthly quotas. I've never tested this out, but it makes sense.
Send it again. Advise them you are aware it's past the SOL but are willing to show some good faith if they are.
@PeacefulP wrote:Is it past the SOL? If so, I would kindly write back and offer again to pay the amount if they delete. I've heard PFD sometimes work best at the end of the month because agents need to make their monthly quotas. I've never tested this out, but it makes sense.
The poster said OC not collection agency. If it was a CA that would make sense but it doesnt. The problem is creditors now see the use of the internet as a bad thing because if you delete for one person, whats to say that person wont go brag all over the internet they got a PFD from such and such. Some companies don't want to violate the FCRA by reporting accurate info, others simply don't care, they just want to get paid. If chase for example accepted PFD and everyone who had a charged off chase account paid them and they collected say 200 million in chargeoffs and the FTC fines them 3 million for violating the act, that's chump change to them. Other companies and creditors can't afford a 3 million dollar fine because they don't have the client base to support such profits from chargeoffs.
+1 shogun, send it again.
@goosedog wrote:
@PeacefulP wrote:Is it past the SOL? If so, I would kindly write back and offer again to pay the amount if they delete. I've heard PFD sometimes work best at the end of the month because agents need to make their monthly quotas. I've never tested this out, but it makes sense.
The poster said OC not collection agency. If it was a CA that would make sense but it doesnt. The problem is creditors now see the use of the internet as a bad thing because if you delete for one person, whats to say that person wont go brag all over the internet they got a PFD from such and such. Some companies don't want to violate the FCRA by reporting accurate info, others simply don't care, they just want to get paid. If chase for example accepted PFD and everyone who had a charged off chase account paid them and they collected say 200 million in chargeoffs and the FTC fines them 3 million for violating the act, that's chump change to them. Other companies and creditors can't afford a 3 million dollar fine because they don't have the client base to support such profits from chargeoffs.
There is no violation in deleting a TL for a PFD.
@guiness56 wrote:
@goosedog wrote:
@PeacefulP wrote:Is it past the SOL? If so, I would kindly write back and offer again to pay the amount if they delete. I've heard PFD sometimes work best at the end of the month because agents need to make their monthly quotas. I've never tested this out, but it makes sense.
The poster said OC not collection agency. If it was a CA that would make sense but it doesnt. The problem is creditors now see the use of the internet as a bad thing because if you delete for one person, whats to say that person wont go brag all over the internet they got a PFD from such and such. Some companies don't want to violate the FCRA by reporting accurate info, others simply don't care, they just want to get paid. If chase for example accepted PFD and everyone who had a charged off chase account paid them and they collected say 200 million in chargeoffs and the FTC fines them 3 million for violating the act, that's chump change to them. Other companies and creditors can't afford a 3 million dollar fine because they don't have the client base to support such profits from chargeoffs.
There is no violation in deleting a TL for a PFD.
"15 U.S.C. §1681c
Section 605
Requirements relating to information contained in consumer reports
Information excluded from consumer reports.
Except as authorized under subsection (b)
of this section, no consumer reporting agency may make any consumer report containing
any of the following items of information:
Accounts placed for collection or charged to profit and loss which antedate the report
by more than seven years
In relation to the principles of credit report (section 602)
The banking system is dependent upon fair and accurate credit reporting. Inaccurate
credit reports directly impair the efficiency of the banking system, and unfair credit
reporting methods undermine the public confidence which is essential to the
continued functioning of the banking system.
Technically the CO should stay on the account for 7 years even if paid because that is "accurate" reporting per the FCRA. HOWEVER, every creditor interpts that differently, hence the explaination of my post about who wants to get paid or not.
@goosedog wrote:
@guiness56 wrote:
@goosedog wrote:
@PeacefulP wrote:Is it past the SOL? If so, I would kindly write back and offer again to pay the amount if they delete. I've heard PFD sometimes work best at the end of the month because agents need to make their monthly quotas. I've never tested this out, but it makes sense.
The poster said OC not collection agency. If it was a CA that would make sense but it doesnt. The problem is creditors now see the use of the internet as a bad thing because if you delete for one person, whats to say that person wont go brag all over the internet they got a PFD from such and such. Some companies don't want to violate the FCRA by reporting accurate info, others simply don't care, they just want to get paid. If chase for example accepted PFD and everyone who had a charged off chase account paid them and they collected say 200 million in chargeoffs and the FTC fines them 3 million for violating the act, that's chump change to them. Other companies and creditors can't afford a 3 million dollar fine because they don't have the client base to support such profits from chargeoffs.
There is no violation in deleting a TL for a PFD.
"15 U.S.C. §1681c
Section 605
Requirements relating to information contained in consumer reports
Information excluded from consumer reports.
Except as authorized under subsection (b)
of this section, no consumer reporting agency may make any consumer report containing
any of the following items of information:
Accounts placed for collection or charged to profit and loss which antedate the report
by more than seven years
In relation to the principles of credit report (section 602)
The banking system is dependent upon fair and accurate credit reporting. Inaccurate
credit reports directly impair the efficiency of the banking system, and unfair credit
reporting methods undermine the public confidence which is essential to the
continued functioning of the banking system.
Technically the CO should stay on the account for 7 years even if paid because that is "accurate" reporting per the FCRA. HOWEVER, every creditor interpts that differently, hence the explaination of my post about who wants to get paid or not.
Yes, accurate reporting. It does not say they have to report at all. Only that if they report it has to be accurate. The FCRA or nobody else can tell a creditor they must report a TL. And if they choose not to report then that is their prerogative.