topic Re: Paid In Full? in Rebuilding Your Credit

Paid In Full?

Anonymous — Fri, 30 Nov 2012 15:46:17 GMT

I recently tried to do a PFD letter to a collection company that I owe medical bills too. And I received a letter back stating that they cannot do a PFD but that it would be marked Paid In Full. Will Paid in full help my credit any?

Re: Paid In Full?

rckstrscott — Fri, 30 Nov 2012 16:04:59 GMT

@Anonymous wrote:
I recently tried to do a PFD letter to a collection company that I owe medical bills too. And I received a letter back stating that they cannot do a PFD but that it would be marked Paid In Full. Will Paid in full help my credit any?

It will not help your FICO credit score.

It will make you more desirable on manual reviews, but your score will remain unchanged.

However, paid in full is often easier to GW then settled, so all is not lost.

-scott

Re: Paid In Full?

Shogun — Fri, 30 Nov 2012 17:45:10 GMT

+1 I would always try a couple rounds or so of PFDs, if not, then I'd pay and GW them. I've had pretty good success that route.

Re: Paid In Full?

hoping2rebuild — Fri, 30 Nov 2012 18:00:24 GMT

+1 I had to send out many rounds of PFD's for one of the accounts that I had

it just had to reach the right persons desk.

Re: Paid In Full?

Anonymous — Fri, 30 Nov 2012 18:03:52 GMT

What about paying them and then disputing them? Anyone have any luck with that?

Re: Paid In Full?

rckstrscott — Fri, 30 Nov 2012 18:05:57 GMT

@Anonymous wrote:
What about paying them and then disputing them? Anyone have any luck with that?

Outside of the fact we cannot discuss disputing valid accounts frivalously as it can sometimes start leaning towards a TOS violation, the main reason is it rarely works.

GWs are often successful. I removed 13 accounts with GW after paying in full.

-scott

Re: Paid In Full?

RobertEG — Fri, 30 Nov 2012 18:15:04 GMT

The ultimate payment status of the debt is separate from their prior reporting of account activity, such as delinquencies, charge-off, or collection referral.

Paying is not a basis for asserting inaccuracy in their prior reporting. To support a dispute, you have to provide some inaccuracy in their actual reporting.