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@Sbrooks1 wrote:
Will be receiving an unexpected 6 grand😳 Plan is to pay all cards to zero and remaining 2 credit bureau med collections off. Uti right now 74% across the board and more than 90 on 3 cards. Is this my best bet with this surprise money? I have a collection from CCC for Comcast due to fall off in 11/16 , it's bogus for equipment that I left at a local office , but what is the best for my score
Congrats on the windfall. Wise investment decision. It's my understanding that for FICO scoring purposes, you need to leave one account with a small balance and pay the rest to zero. As for the collections, if they refuse to PFD, then I say go ahead and pay off the collections if they continue to update because they surpress your score. When I still had the collections updating every month I couldn't get any prime cards, but once they started reporting, then the approvals started coming in.
@Sbrooks1 wrote:
It's a local credit bureau. Should I pay first then goodwill? Or ask pfd first??
Ask for PFD first. If they refuse go ahead and pay it. Paid collection is not as good as off the record, but it is better than unpaid collection.
If they refuse PFD they will probably refuse GW, but it is easier to negotiate BEFORE they have the payment. For the med collections you could also google HIPPA removal and follow the steps there.
@Sbrooks1 wrote:
Do I call or snail mail to try and do a pfd??
Either one is acceptable. Me personally, I snail mail because I want to have proof that the offer was made and was okayed. Don't trust them to keep their word. Know its my fault for the delinquency, but when I'm making a good faith effort to settle the issue, would like the same consideration.
If you have a good reason and can shed a few crocodile tears, I would suggest calling them.
Oral requests can be more persuasive.
I would not kill an agrement by insisting on written confirmation. PFDs are contrary to their credit reporting agreements with the CRSa, and as such, parties are often reluctant to put such agreements in writing. Oral agreements are binding contracts, and they are not likely to face a breach of contract suit once the $ is in their pocket.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |