PIF Question

[Anonymous]

If I call the OC on an unpaid balance and ask if they can pull account from collections to PIF does it have to be in one lump payment or can I ask to split payments?

And if they do allow to pay what happens next with that account once payment is made in full. Oh, if they agree to pull the account from collections do I ask for agreement in writing? Thank You.

[RonM21]

If you can get it in writing that is a bonus. Yes, they can possibly agree to delete with payment. Most will only consider deletion with a full payment up front, but some may work with you on a plan.

If they hold to their word of agreeing to delete, once you pay, they will notify the Credit Bureaus to delete or update to delete. From there it will be a matter of how quickly each one gets to it and could take a month or so, but usually not that long.

[Anonymous]

Your results will vary....depending on LOTS of variables.

Age of the account, amounts WHO the OC is ....

Be prepared for rebuttal and counter-offers and don't be shocked that they just don't bend to your wimp.

This is like dating..... a person you've already burned, don't expect a red carpet.

Good luck

[RobertEG]

Creditors often hire debt collectors to avoid the cost and hassle with collecting delinquent debts.

If you pay in full, they are not then therafter assuming any continued collection activity.

However, if you offer a payment plan, you are setting up terms that involve possible further default, and thus they are re-involved in collection activity.

I would expect a far lower chance of agreement to terminate a collection assignment and take payment of the debt if it has conditions other than a simply payment in full.

[Anonymous]

Thank you all for the responses, I will consider all the advice recieved and move forward

[Anonymous]

I would strongly recommend just saving up the full amount and request a pfd when you have it.