02-08-2012 12:11 PM
Hey oh wise ones...
Here's my dilemna. Desperately trying to get approved for a mortgage. I have established that two debts that MCM are trying to collect from my DH are legitimately ours.
1. We received settlement letters for each for 40% off....great news, right?!
2. I'm willing to pay the whole darn amount to get these things deleted so that we have a shot for this mortgage.
I'm really lost right now and not sure which way to go. I've heard that MCM will absolutely not delete a debt...even if paid in full. I'm scared that if I even ask them to do that (offer to pay in full for a delete) they will retract their settlement offer.
Anyone have any advice, experience with them, or would just like to give me their opinion? I believe in paying a debt that is ours, it is the right thing to do. But, hey, I also believe if the other party is willing to settle or delete, then I'd like to take advantage of that! We've been trying to get a mortgage for 3 years now and I'm losing hope
02-08-2012 12:13 PM
Ive sent you a PM, email one of these two people and see if you can offer a PFD using the sample PFD letter here, filling in your information...
They sometimes delete, in my instance, i have 2 accounts with them that have been paid close to 2 years now, and i am fighting with them to have them removed x.x.x only about 4 months now haha
02-08-2012 12:43 PM
Thank you so much!!! I will send one of them a PFD. Have you had any luck at all with any creditors doing a delete?
I'm also contacting Pinnacle, LVNV Funding, and Capitol One. Wish me luck!!!
02-08-2012 12:52 PM
You may not need to have them deleted to qualify for a mortgage, but you will need to have paid them.
Obviously getting them deleted is the best option but you could likely just pay the settlement and be ok, assuming that your FICO scores are good enough.
02-08-2012 01:12 PM
i have had 0 PFD success, but i have had 2 GW success
03-30-2012 05:10 AM
Hey, I am in the same boat. They offered me a settlement as well. 256.25 for a bill of $472.09. I would much rather pay the whole amount for a delete. Can you pm me the email address as well
03-30-2012 05:47 AM
01-24-2013 10:15 AM
I have a Midland account that they tried to bring a judgment on. I beat that over two years ago. Today I got a letter with a settlement offer. I am in the process of debt verification. From what it sounds the DOFD is August 2006, a little bit off of seven years. I wanted to get a home this summer but with this still on my bureau (final collection not paid) what should I do? I don't have the money to settle at the moment. I should also point out that it is not reporting a status at all, it is just listed as a collection account/no status. Thank you.
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.