11-16-2012 05:15 PM
Hello everyone. Need help!!! I sent a PFD letter to Audit and Adjustment for a returned check that was dated back in 2010. Willing to pay in full if they will delete. Today I received a letter from the collection agency and it stated:
We are writing in regard to your dispute of the above reference account assigned to our agency for collection. This account has been marked as disputed and will be reported as such to the national credit reporting agencies.
What does this mean? This is it that's on the letter. Should I contact the CA directly instead of corresponding via mail for a pfd? I don't know if I should wait for another letter or is this it from the CA. What should I do next to get this remove from my credit filing. Please help!
11-17-2012 06:22 AM
I was just posting about this on another thread. I've seen more and more PFDs, GWs and DVs being flagged as disputes rather than what they were intended for. I would simply send the PFD in again, making to sure to word it that it is not a dispute.
11-17-2012 12:31 PM
It means that you might have a problem that wont be rectified by just sending another PFD offer.
If they have followed through on their stated intent to report your earlier letter as a direct dispute, it will result in a dispute flag being placed in your credit file until they report that the dispute has been resolved. In the interim, your FICO score will become kinda useless, as it wont include certain items of information in the scoring.
I would send a separate letter challenging their holding of your prior letter as a direct dispute. If you did not state it to be so or provide any supporting documentation of alleged inaccuracy in reporting, they have no basis for holding it to have been a direct dispute.
And even if they did have basis, they would then accept the compulsory statutory period of 30'ish days to conclude the "dispute" by sending you notice of results of their investigation, or by formally dismissing the dispute as "frivolous or irrelevant." They cannot hold it to have been a dispute, and then just sit on it. One or the other.
11-18-2012 08:41 PM - edited 11-18-2012 08:44 PM
PFD= Quid pro quo, GW= I've made a mistake can you please do ___ on my behalf, DV= this is not mine, verify that it is actually my debt.
edited :to add that this is how to look at the purpose of each letter and to add language accordingly
11-19-2012 08:45 AM
Would it be smart of me to contact the collection manager by phone for a PFD? I need this baddie remove! Thank you everyone.....
you can contact them by phone just dont do anything until you get it in writing.
11-19-2012 10:39 AM
As I see it, you have two issues. First is pursuing your request for deletion of their reporting based on payment. Second is dealing with their treatment of your prior letter as a dispute.
If you are able to get acceptance of your PFD offer, then their reporting will be deleted, thus erasing both issues.
However, if they dont accept your PFD, you still have the potential issue of an improper dispute flag being placed in your credit file. That issue wont go away based on simply pursuing PFD acceptance.
As for calling them directly, I would certainly pursue that course. Negotiations via personal contact often lead to a quicker meeting of the minds. However, dont admit to owing the debt, only to your desire to conclude the matter. Admissions of debt can come back to bite your, particularly if your state statute of limitations provides for a reset of the SOL period based on such admissions. Some state statutes have such provisions. You want to avoid any admission of debt.
11-19-2012 10:58 AM
Just got off the phone with the collection manager. He said they cannot do PFD and will not settle for less the amount due. And it will be mark as a dispute on my credit file. Am I really out of luck and to just pay it. Will my score be lower because of the dispute? I am ready to give up, this is very discouraging. It's a step backward.
Sorry RobertEG I called them before I read the new message. Would really appreciate your input. And anyone that can help. Thanks again.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.