Settle or PIF Question

Anonymous · ‎02-20-2016

My husband has a charged off Seventh Avenue account. It wasn't charged off that long ago...December I believe. I contacted Seventh Avenue who gave me the contact info for the CA and when I called they offered me a settlement of 283 which is 100 less than the full balance. My question is do I take the settlement or PIF? I am hoping to do a GW letter for this debt so would it look better to have PIF? I don't mind paying the extra hundred if it gets me a better chance of deletion from the OC. There is no listing on his CRs from the CA just the OC.

gdale6 · ‎02-20-2016

@Anonymous wrote:
My husband has a charged off Seventh Avenue account. It wasn't charged off that long ago...December I believe. I contacted Seventh Avenue who gave me the contact info for the CA and when I called they offered me a settlement of 283 which is 100 less than the full balance. My question is do I take the settlement or PIF? I am hoping to do a GW letter for this debt so would it look better to have PIF? I don't mind paying the extra hundred if it gets me a better chance of deletion from the OC. There is no listing on his CRs from the CA just the OC.

PIF is usually preferrable if you will be seeking a GW deletion and I would make a deal to pay in exchange for non reporting with the CA.

Bankrupt2019 · ‎02-20-2016

For such a small ammount, I would certainly pay in full.

RobertEG · ‎02-20-2016

I see two good will requests.

One to the debt collector, requesting that they not report their collection.

The ohter, a request to the creditor for deletion of the charge-off.

Regrdless of whether you settle or pay in full, the primary question seems to be which one you wish to use payment as a means for secure either a not reporting agreement, or a deletion of existing reporting agreement........