Rebuilding Your Credit

[andrew783]

Been in touch with National Financial Group for a few weeks now, from professional dialoge to threats, and have gotten nowhere with them. Not following the advice here, I called them today to find out if there's an update but onyl got more NOs for my PFD. I used the letter going around here and haven't got results so far.

My question, what do you do once you've been turned down by the CA's for PFD? This is a fairly new TL, one that escaped me and just dropped my credit by 120 points.

What else is there to do???

[sidewinder]

Is it past SOL?

When is DOFD?

[andrew783]

Its a recent collection DOFD was late 2006. So its nowhere close to falling off or SOL for that matter.

[sidewinder]

Unless they are violating any laws, your only options is to pay without PFD, continue to send PFDs, or pay and then GW them.

From the sounds of your first post, doesn't appear you are on good terms with them, which will decrease your chances of PFD or GW.

[IrishPM]

You stated that you've been working with them for 'a few weeks now' and I wanted to offer up my own personal experience.

I sent a DV letter in November 2007 and received a response from the CA in about 30 days. That's pretty typical.

I responded with a letter outlining my terms and conditions for settling the debt as 'Payment for Deletion' and I added something else to the end of that statement; not negotiable.

I sent the same letter (with a current date) over and over and over again for 8 months.

After some back and forth with them through the US Mail system for the 8 months (yes, it will take a while for them to finally crack), the CA gave up and deleted their trade line from all three credit reports.

Bottom line is I did not compromise with them and was not going to take no for an answer. The best advice I can give anyone is generate a professional letter stating your position and keep hammering away at them.

The end result is my credit scores (FICO) increased over 80 points just by having that one and only negative trade line deleted. It's worth the effort and the patience to stick it out.

As the most decorated Marine in US History ('Chesty' Puller) once said, "Hit hard, hit fast and hit often".

In my case, it worked.