Rebuilding Your Credit

[adio413]

hey kids,

  on my CR i have a TL from first premier bank showing a charge off for $440. FPB is the only thing showing on my CR about that. when i sent a DV letter to them back on june 2012, i received a validation letter from receivables performance management, llc saying that the original creditor is genesis financial services, gfs.

theres nothing on my CR regarding rpm,llc or gfs.... its just first premier bank. i could call FPB and try to do a pfd but i hear they get time-and-a-half pay for saying 'no'.  what should i do?

[Shogun]

How old is it?  Do you know the DOFD?

[adio413]

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Shogun wrote:

How old is it?  Do you know the DOFD?

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idk, but its over 4.5yrs old and the SOL in pennsylvania is 4years i belive

[Shogun]

If that's the case, send them a PFD.

[Davidngo]

I was in the same situation as you just recently.  I had a CO from First Premier for $465.00.  Each time I tried to call them for  PFD, they refused and referred to me Pinnacle as the holder of this collection account.  Do some research on this First Premier and you will find a back line directly to their collection department.  They do not sell their debts and can take the payment over the phone, which I did.  I paid the balance in full.  I did not want to pay Pinnacle as I was afraid that they might then report as a collection account and be doomed for a double wammy, CO and CA.  They will turn around and report it as CO Paid in Full; they report the first monday after the second saturday.

Another thing to keep in mind, and I am not sure if this is the same as you, they were factoring that amount into my utlization amount even though it was a CO.  So paying it directly to first premier and then having them report as a 0 may increase your score due to the fact that the utlization is now lower.

Hope this helps. 

[adio413]

so i called FP bank. they put me through to their credit card department. the lady asked for name and SS# and then told me that the account has been taken over by genesis financial services.

so now what? again, there is nothing on my CR about GFS or receivables performance management............

[Davidngo]

PM and I will give you the back door number to FP.  When you call them, they obviously still have your account information.  Just tell them you would like to deal directly though them and they will take the payment.

[Spoolingbyu]

I am having the same issue with them.  I had a $200 card with a $382 balance.  I tried to PIF with FP  they sent me to genesis financial.  I tried to PIF with them and they offered a settlement of 50% of the balance , the account  would be considered paid in full, and they would remove the delinquencies.   Well, the account has updated and says that it is paid and shows that it was never delinquent but it now shows a balance of $191.00  which brings my utilization to 91%.  **bleep**!      I have sent GW letters and tried callIng and paying the differerence  to both FP and Genesis Financial and both of  them tell me that my account has been considered paid in full and refuse to take my money.   

This is the only thing left on my credit at this point and I have tried applying for other cards and loans and have been denied for high credit utilization.  All of the score simulators show if this is paid down my scores should be in the 680-740 range.    This is scheduled to stay on my credit till 09/16