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Established Contributor
Ravensfan2001
Posts: 566
Registered: ‎11-10-2012
0

Pay For Delete (many questions)

Can I ask to settle for 30% in a PFD letter?

Can I send through email?

Will they respond in writing so that I have proof of agreement?

Can I use a PFD letter for medical judgments?

I have 2 collection accounts PIF. How do I get them to remove it from my CR?

How long does the whole process usually take on average?

Should I write PFD letters for account scheduled to fall off in less than a year? (I really don't want to)

 

Sorry for all the questions. I'm new at this. :smileyhappy:


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
New Contributor
KnewBee
Posts: 89
Registered: ‎10-10-2012
0

Re: Pay For Delete (many questions)

1. You can ask, generally PFDs have greater chance of success the more you offer, but worst they can do is say no to a lower offer

2.  You can, most people prefer to use regular mail so there is formal documentation of communications, but not required.

3.  Depends on CA, some are hestitant to put in writing due to agreement with CRAs not to delete paid collections but YMMV

4.  Not sure on this one, but I dont see why not. You may have to have judgements vacated depending on situation.

5.  See GW letter, this is what you would use for these.

6.  Varies greatly depending on situation, anywhere from a couple of weeks to several months, but usually at least a month or more, again YMMV.

7.  Up to you. Probably depends what your credit needs are between now and when they fall off on their own.

 

Hope this helps!

Starting Scores: 9/19/2012 EQ 613 / TU 526 / EX PLUS FAKO 563

Current Scores: EQ 642 / TU 519 / EX PLUS FAKO 610

Goal Scores: 700
Valued Contributor
rootpooty
Posts: 1,772
Registered: ‎10-28-2011
0

Re: Pay For Delete (many questions)


KnewBee wrote:

1. You can ask, generally PFDs have greater chance of success the more you offer, but worst they can do is say no to a lower offer

2.  You can, most people prefer to use regular mail so there is formal documentation of communications, but not required.

3.  Depends on CA, some are hestitant to put in writing due to agreement with CRAs not to delete paid collections but YMMV

4.  Not sure on this one, but I dont see why not. You may have to have judgements vacated depending on situation.

5.  See GW letter, this is what you would use for these.

6.  Varies greatly depending on situation, anywhere from a couple of weeks to several months, but usually at least a month or more, again YMMV.

7.  Up to you. Probably depends what your credit needs are between now and when they fall off on their own.

 

Hope this helps!


+1

 

Also on number 4 you have to have the judgment vacated through the courts to get it removed.  A PFD would only delete the collection account.  I had 7 collection accounts last year.  All but one refused a PFD no matter how I approached them.  Most refuse it cause of their agreement with the CRA's plus they wont agree to it in a paper trail cause that means there is evidence on something they werent supposed to do.  I have had most success with paying the account in full then sending a GW letter asking for a delete kindly

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Mega Contributor
RobertEG
Posts: 18,551
Registered: ‎03-19-2007
0

Re: Pay For Delete (many questions)

Asking for GW deletion of any reported information must be directed to the party who reported the information, as others cannot agree to delete information they did not report.

Judgements, being public records, are often not reported by the judgment creditor or the judgment court. 

If the judgement creditor was the reporting party, then yes, you can request them to delete that reporting, obviating any need to go through the process of first getting the court to vacate the judgment, and then requesting deletion based on that action.

 

Who reported the judgment? 

Established Contributor
Ravensfan2001
Posts: 566
Registered: ‎11-10-2012
0

Re: Pay For Delete (many questions)

Inova Health Systems

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
Established Contributor
Ravensfan2001
Posts: 566
Registered: ‎11-10-2012
0

Re: Pay For Delete (many questions)

I take that back. It was the court that reported them. Inova hasn't reported anything on my credit.

Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***

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