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PFD...in person??

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Anonymous
Not applicable

PFD...in person??

So, I embarked on my credit repair in earnest last year, which included 2 collections accounts to try and settle via PFD. My first one was settled successfully over the phone- after much research on this board into the particular collection agency, etc, and their track record with honoring their verbal agreements.

 

I have one remaining PFD to address—a $950 bill with Fidelity—and am honestly nervous about this one. Last year, I sent them a PFD letter in the mail and received a phone call (well, voicemail) in response, requesting that I call back and talk with them. A number of things came up in my life immediately after this, so I needed to shelf the issue for the time being. Now, I'm back to working on it...but am still worried about the possibility of Fidelity insisting upon a verbal agreement alone. I looked into their physical address today and realized that they're just a few miles away from me here in LA, which got me wondering: is it ever advisable to try and ask for a PFD in person? Is it even done at all?? I did do a forum search, but the scant couple of threads I found on the topic were very much up in the air as far as opinions (or results).

 

Would anyone be able to weigh in further, please? Even just input on the verbal agreement gamble would be very useful and appreciated.

 

Thanks in advance!

Message 1 of 7
6 REPLIES 6
RobertEG
Legendary Contributor

Re: PFD...in person??

How are your personal negotiation skills?

A good negotiator would usually prefer personal contact rather than communications, as it permits instant back and forth, and quicker potential resolution.

Additionally, crocodile tears can be generated face to face, but not on paper.

Message 2 of 7
Zolomon
Regular Contributor

Re: PFD...in person??


I looked into their physical address today and realized that they're just a few miles away from me here in LA, which got me wondering: is it ever advisable to try and ask for a PFD in person?

It'd be a lot cooler if you did... (Mathew McConaughey voice).

No matter what, do not pay them after a verbal agreement. You take a drafted PFD letter with an endorsment line to sign for agreement and be ready to pay on the spot (take your check/card/cash). Maybe they already have their own letter where you both can sign, but be sure to read the fine print where it says they will remove/stop reporting your debt.

Personal cards:

Business cards:

Message 3 of 7
gdale6
Moderator Emeritus

Re: PFD...in person??

Is this a debt with Fidelity Investments proper or one with their credit card issued by US Bank or Bank of America?
Message 4 of 7
Anonymous
Not applicable

Re: PFD...in person??

gdale6:

It's a debt originally owed to an apartment management company, now in collections with Fidelity Creditor Services.

Message 5 of 7
Anonymous
Not applicable

Re: PFD...in person??

If you do anything over the phone, I would record it.

 

Personally I use an APP called ACR (Automatic Call Recorder) on my Android. It records all phone calls and then asks if I want to save them after I hang up. If I tell it to save then it saves it locally and on google drive.

 

If you record phone calls be sure that you know your state's laws... My state is a 2-party state meaning that I have to inform them that they are being recorded.

Message 6 of 7
Anonymous
Not applicable

Re: PFD...in person??

Thanks, Jcrabtree! That actually sounds like a pretty decent compromise when they're not being open to communicating via mail.

 

Now, do you know anything about how practical this winds up being in the event that the collection agency fails to hold up their end of the verbal agreement? Even if you have that recording and it's legally binding...is it the type thing where you might be able to just "remind" them of its existence and that would change their compliance? Or would it take actual legal action?

Message 7 of 7
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