Should I ask for DV prior to sending a PFD letter? Please help

[Anonymous]

Hi,

I am just starting to get my credit rebuilt. I have identified the debt, now I need to erase it. Is it normal to request for a reduced payoff amount on a PFD? Should I request DV first. Any help would be appreciated.

[Anonymous]

Can you give us some more information? If you do have the full amount to pay then def start with less but always be prepared to pay in full. You should also get information of the SOL for your state. A CA or OC doesn't have to respond or accept a PFD request. Therefore be sure you're ready to pay before contacting. If you tell us the age, name of the company reporting, amount, and if it's a CO etc. People here will be able to share their experiences, suggestions and thoughts.

[LIGHTNIN]

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@Anonymous wrote:

Hi,

I am just starting to get my credit rebuilt. I have identified the debt, now I need to erase it. Is it normal to request for a reduced payoff amount on a PFD? Should I request DV first. Any help would be appreciated.

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Hi and Welcome to the forums I agree with iluvmyfico need more info.

How did you identify your debt?  from CR's or a notice from a CA?

My experience, I didnt always send a DV, I when straight for the PFD letter.

A helpful link to read What Steps Do I Take? Do I DV? PFD? .......you may use the link below or find it in the stickys above

[RobertEG]

DV letters are done for totally different reasons than a PFD.

The main purposes of a DV letter are to (1) if you dont agree with the validity of the debt, to get validation of the OC and the amount of the debt, and (2) to requrie cessation of active collection activities until such time as they choose to validate   It is basically a debt collection practices matter, and not a credit reporting matter.  DV letters have no set period for required response.   I would probably do a DV, but not rely on it for any CR deletion issues.

PFD letters are to pay the debt, and thus forclose the chance of legal action against you, and to secure removal of information from your CR.  PFD letters have no requirement for any response by the creditor. So it does not forclose any further action by the CA.

If you offer less than full payment in your PFD offer, the advantage is that, if accepted, it will cost you less $ out of pocket.  The disadvantage is that less than full settlement offers have a lower chance of PFD acceptance.  Your gamble.