cancel
Showing results for 
Search instead for 
Did you mean: 

settled amount for pfd

tag
pyboathon
Established Member

settled amount for pfd

I am in the process of sending out DV letter, and I got a letter in the mail from a creditor that says they will settle a $770.65 balance I owe to bank of america for $308.26. should I send them a pfd letter with the 308.26 amount?

the letter is a tax season offer special, lol


Starting Score: 419
Current Score: 449
Goal Score: 620


Take the FICO Fitness Challenge
Message 1 of 7
6 REPLIES 6
eparker
Frequent Contributor

Re: settled amount for pfd

Is the debt actually yours?  If they will delete the item, why not.  If it's not your debt then do the DV. 

 

Good luck. 

Starting Score: Mid 500's
EQ-701 TU-693 EXP-698
Goal Score:750+

NavChek $15,000/NFCU nRewards Visa $12,000/American Express Rewards Gold NPSL/USAA Rewards World Mastercard $7000/USAA Visa Platinum $7000/Barclay $3900/Credit Union Visa $5000/Jareds $7600/BofA Visa $4000/USAA MC $1500/Walmart $1200//Amazon $1000/Discover Card $750/Cap1 $2250.







the FICO Fitness Challenge
Take the FICO Fitness Challenge

Message 2 of 7
pyboathon
Established Member

Re: settled amount for pfd

that's what I dont get. All the debt on my credit report is mine. That's why I didn't get the DV letters before. I know I owe them money, so intead of sending DV letters, should I send pfd letters.


Starting Score: 419
Current Score: 449
Goal Score: 620


Take the FICO Fitness Challenge
Message 3 of 7
MarineVietVet
Moderator Emeritus

Re: settled amount for pfd


@pyboathon wrote:

that's what I dont get. All the debt on my credit report is mine. That's why I didn't get the DV letters before. I know I owe them money, so intead of sending DV letters, should I send pfd letters.


It doesn't just matter whether you owe the debt or not. A DV can establish whether a CA even has a legal right to attempt to collect from you. Sometimes a DV will make a CA go away for that very reason.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 4 of 7
pyboathon
Established Member

Re: settled amount for pfd

why wouldn't they have legal right to collect?

 

 


Starting Score: 419
Current Score: 449
Goal Score: 620


Take the FICO Fitness Challenge
Message 5 of 7
MarineVietVet
Moderator Emeritus

Re: settled amount for pfd


@pyboathon wrote:

why wouldn't they have legal right to collect?

 

 


They might not own the debt or even been assigned the debt.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 6 of 7
eparker
Frequent Contributor

Re: settled amount for pfd

 can still do the DV letters.  I guess what I'm saying is, if the settlement amount is lower than what you owe and they will delete, go for it.  Sometimes that stuff will get deleted and re-appear, and you end up paying in the long run.  I would attempt ALL means. 

Starting Score: Mid 500's
EQ-701 TU-693 EXP-698
Goal Score:750+

NavChek $15,000/NFCU nRewards Visa $12,000/American Express Rewards Gold NPSL/USAA Rewards World Mastercard $7000/USAA Visa Platinum $7000/Barclay $3900/Credit Union Visa $5000/Jareds $7600/BofA Visa $4000/USAA MC $1500/Walmart $1200//Amazon $1000/Discover Card $750/Cap1 $2250.







the FICO Fitness Challenge
Take the FICO Fitness Challenge

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.