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So I have a repossession from Exeter Finance Corp dating back to 3/14. I was wondering if I should attempt a PFD or call them and try to settle it and do a GW campaign afterwards? Any suggestions would be greatly appreciated!
Depends on whether you have the funds to PIF if they decide to "get serious"
They charged off the amount that I owed, but they keep reporting a higher amount each month. I have the funds now, but just barely. If it keeps growing, I won't.
Well, it certainly won't hurt to ask for a PFD....
Ture, but my biggest worry is awakening a sleeping giant that could easily file a lawsuit if the numbers on my credit report aren't 10% accurate and they say I owe more than I think.
Thats why we generally say do it only if you have the funds to PIF, just in case they "get serious". I have not heard of anyone dealing with Exeter (thats who my car is currently financed with) so I don't know how agressive they could get, but in general, most OC's will try to work with you, if they see you are serious about getting something paid off. I would possible start with making a 50% settlement offer and go from there. Basically approach them with "I have x dollars from my tax return and I might be able borrow y dollars from my family, could we possible settle this for z dollars? If they seem amenable to a settlement, then feel them out for a PFD for the full amount.
Sounds like a good plan. Thank you for your input!