when do you PFD? or GW? or DV? so confused!

Anonymous · ‎01-30-2010

PART ONE: I cannot seem to find a page here that tells for what situations to use different courses of action.

Late payments- I should GW letter to orginial CA, right?

Collections (mine are already all paid)- should I also GW to the CA?

And if the collections are for medical bills (already paid)- then I should GW to the CA?

When do you use PFD and DV?- is this only if the accounts are not paid yet?

PART TWO: When checking credit reports for errors, what are some of the most common things to look for and fix that can help boost my score? I saw I should add my current employer, phone number, etc. I also have an installment loan (50%) paid that doesn't show on 1/3 CRA. I found some duplicate listings. But other than that, do you have suggestions about what else I should be searching for? Comparing three separate reports at 20+ pages is mindboggling!

Thanks everybody

Anonymous · ‎01-31-2010

for late payments you would GW (good will) the OC (late chase payment for instance, contact chase for a removal)

For a collection that is already paid you would goodwill as well, if its medical you can do the HIPAA process, search google for hipaa process.

a PFD or pay for delete is if you have an open collection account and owe money, you offer them to pay in full or partial in return for a deletion from the credit bureaus.

a dv is a debt validation, I think that has to be done within 30 days of receiving collection notice.. the ca has to send all debt validation info to you.

Jazzzy · ‎01-31-2010

@Anonymous wrote:
PART ONE: I cannot seem to find a page here that tells for what situations to use different courses of action.

Late payments- I should GW letter to orginial CA, right? No, as said above...the OC
Collections (mine are already all paid)- should I also GW to the CA? Yes, see above
And if the collections are for medical bills (already paid)- then I should GW to the CA? See the hippa process (you can't find that here at myFICO)
When do you use PFD and DV?- is this only if the accounts are not paid yet? These would be only for unpaid items

PART TWO: When checking credit reports for errors, what are some of the most common things to look for and fix that can help boost my score? I saw I should add my current employer, phone number, etc. I also have an installment loan (50%) paid that doesn't show on 1/3 CRA. I found some duplicate listings. But other than that, do you have suggestions about what else I should be searching for? Comparing three separate reports at 20+ pages is mindboggling! If the installment loan has a good history, try to get that reporting to the one it doesn't. Call the lender and see why it's not reporting. The employer won't help your FICO, but it may help if a creditor is eyeballing your report. I know this is a time-consuming process, but you have to go through every entry on each report. Don't assume that they are anywhere near alike. Dispute anything you think is wrong. That's what you are searching for...inaccuracies. Then, when you have a good list of what is right...but things that you wish were gone...then you start the GW process.
Thanks everybody

Anonymous · ‎02-02-2010

Thanks so much Lynette. I think I get everything- just need one clarification. When you say OC (original collector/ orginal creditor), for a medical bill, does that mean the medical office, or the collection agency they turned it over to collect for them?

Thanks again