cancel
Showing results for 
Search instead for 
Did you mean: 

Question: PFDs and the OC

tag
Anonymous
Not applicable

Question: PFDs and the OC

Happy New Year, all!

 

I've decided to tackle my credit repair issues this year and one of the methods I plan to try are PFDs. Scenario: OC charges off credit card debt and sells it to CA. Both the CO from the OC and the collection from the CA show on my credit report.

 

So, let's say that CA agrees to my PFD request and follows through. Here are my questions: The OC is still going to report the CO, right? If so, how might I pursue getting everything removed, including the OC reporting? Also, will my score still improve if only the CA deletes but the OC does not?

 

Thanks!

Message 1 of 6
5 REPLIES 5
pizzadude
Credit Mentor

Re: Question: PFDs and the OC


@Anonymous wrote:

Happy New Year, all!

 

I've decided to tackle my credit repair issues this year and one of the methods I plan to try are PFDs. Scenario: OC charges off credit card debt and sells it to CA. Both the CO from the OC and the collection from the CA show on my credit report.

 

So, let's say that CA agrees to my PFD request and follows through. Here are my questions: The OC is still going to report the CO, right? If so, how might I pursue getting everything removed, including the OC reporting? Also, will my score still improve if only the CA deletes but the OC does not?

 

Thanks!


You are correct that both the OC and the CA can each report against the same debt.    In most cases you'll have to negotiate separately with them to tackle the negatives on your report.    However if the OC still owns the debt in some cases you might be able to leverage them to get the CA to remove their negative reporting also.    YMMV.

 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 6
Anonymous
Not applicable

Re: Question: PFDs and the OC

Thanks pizzadude! Regarding my second question, if the collection is removed, but not the CO, is it reasonable to expect some bump in FICO?

Message 3 of 6
pizzadude
Credit Mentor

Re: Question: PFDs and the OC


@Anonymous wrote:

Thanks pizzadude! Regarding my second question, if the collection is removed, but not the CO, is it reasonable to expect some bump in FICO?


Yes, it is possible that your score will increase, but it all depends on the other negative information on your reports.    If this is your only collection account then I'd expect more of an increase than if there are other collections still hanging around.

 

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 6
Anonymous
Not applicable

Re: Question: PFDs and the OC

Thanks again. I'll report back once things get rolling.

Message 5 of 6
Shogun
Moderator Emeritus

Re: Question: PFDs and the OC

Once it's paid, start the GW process on the OC.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.