What would happen if I don't PFD or GW?

[jsk0307]

Hello all,

I'm currently preparing to start my journey to fix my credit situation.  With my income tax in the bank I'm now ready to take care of some bad trade lines.  I have a quick question regarding the example below.  They sent me an offer to settle the debt for $105.  If I accept the offer, does it reset the 7yr timer? 

This is being reported by the original creditor, however the account is now in the hands of a debt collector which does not appear on my report.  (Pulling them through MyPrivacyMatters)   My plan was to send a PFD letter and then see how/if they respond.  If they fail to agree then I plan to pay the $105 settlement and send some GW letters.  I just want to act rather quickly as their settlement offer expires in 30 days. 

Sound reasonable?

  TransUnion Experian Equifax   Past Due: $472 $472 $472   High Balance: $568 $0 $472   Terms: 0 0 0   Limit: $500 $500 $0   Payment: $0 $0 $10   Opened: 08/09/2007 08/01/2007 08/01/2007   Reported: 09/01/2009 08/31/2009 09/01/2009   Responsibility: Individual Individual Individual

[Shogun]

Paying does not reset the CRTP.   

[Shogun]

Sorry, my ipad cuts off sometimes.  Yes, pay and start the GW route.

[jsk0307]

Thank you, Shogun.  I appreciate the quick response.  I have a few others from the same timeframe that I need to work on.  I figured due to the age they are probably not impacting me as significantly as more recent debts.  Because of this I'm a little more likely to just pay the settlement offers and let them continue to age off if the GW attempts are unsuccessful.

[Shogun]

That one has a little over a year left, so it's on life support.  I agree that if you can save some money to go for it.  I'd still try for a PFD first, especially if they are past he SOL.

[jsk0307]

Thanks again Shogun. From what I can tell I only have 1 account within SOL so I plan to pay in full if necessary. The others are all outside SOL so I'll try my luck with PFD.

Hopefully I can get some removals while saving myself some money.