topic Re: Help With CAs: Any Luck With These Creditors? in Rebuilding Your Credit

Help With CAs: Any Luck With These Creditors?

Anonymous — Wed, 24 Apr 2013 22:28:07 GMT

Hello All,

So I decided to drop Lexington Law and attempt to PFD the remaining accounts on my report. I just wanted to see if any of you have had luck with the following creditors? I would like to PFD all of them and furthermore, I would like to pay a settlement for most of them. I would really appreciate anyone's opinion on my chances of success with these creditors.

1. Enhanced Recovery Collections| Balance: $1083.00| OC: Sprint| I think I would PFD for a settlement of $200.00?

2. Capital One| Charge-Off| $974.00| This account is reaching the SOL since the DOFD was 11/2006| Do you think I could offer a settlement for deletion? Since it is dropping of soon anyways?

3. Professional Collection Consultants| $869.00| Sent PFD via fax to settle for $175.00? Should I call and keep the ball rolling?|Cingular

4. Midland Financial|$795.00| First Bank of Deleware| Offer $200.00 PFD?

5. First Premier Bank|$465.00| I think it is now at Jefferson Capital (They have yet to report to CRAs)| Should I settle with Jefferson or FPB?

6. Pinnacle Credit Services| 05/09| $85.00| Faxed a PFD for PIF? Should I call and ask to speak to higher ups?

That's all that's standing between myself and a mortgage! I am hoping I can resolve these by September...Is that far-fetched? Any emails or contacts you can PM me for these agencies would be greatly appreciated! Let me know any successes, etc. I am really looking forward to your responses!

Thanks!!

Re: Help With CAs: Any Luck With These Creditors?

CreditExpressNJ — Wed, 24 Apr 2013 23:47:55 GMT

its worth a try but thats gonna be hard if your trying to get the TLs deleted with settlements that low with those balances..... most PIF when they PFD your chances to me are 2 out of 10 but i could be wrong maybe some just want to close the case but id say offer higher or close to PIF...

Re: Help With CAs: Any Luck With These Creditors?

avigeant83 — Wed, 24 Apr 2013 23:50:11 GMT

Did Lexington Law even help you at all?

Re: Help With CAs: Any Luck With These Creditors?

Anonymous — Thu, 25 Apr 2013 02:53:01 GMT

To be honest, it's only been a couple weeks, but since I've started searching through myFico, I've learned soooooooooooooooooo much about the whole rebuilding process. I am honestly more worried about what Lex has already done, I fear it may ruin my chances of making a good deal. But yea, I still have to call them and cancel, which I am dreading. Thankfully I am paying $50.00 for the first month of their Concord service.

As for my progress, I managed to have two medical accounts paid for delete. So now I am digging into the 6 aformentioned accounts.

I managed to russell up some more questions:

1. Does PIF mean strictly that I pay the full balance at one time? Or can I schedule a short-term payment arangement and get the same result? So can I still offer a PIF for PFD with installments? Has anyone had success with the aformentioned accounts doing this?

2. I currently am a resident of NYC. If I pay off the Capital One account, will it be required to be deleted?

3. Three of the account's OCs are cell phone providers, are those debts technically easier to settle for less and still get a PFD?

Thanks again guys/gals!

Re: Help With CAs: Any Luck With These Creditors?

CreditExpressNJ — Thu, 25 Apr 2013 03:00:57 GMT

@NYC

PIF refers to sending a letter to the company or talking with a CSR and negotiating a pay in full term sometimes they do payment arrangements sometimes it means right then and there YMMV company to company but the main part is to get the agreement in writing so once its satisfied you have proof that its the agreement between you guys make sure its company header paper too....

No it will not be required to be deleted the only thing that changes when you move between different state is ur SOL ...

Cell phone companies tend to want PIF from my experience if you PIF they will remove it generally but settlement is no chance i recently got Verizon and Sprint off mine and i PIF but they werent large balances Verizon was 126 and Sprint was 70 ... so im gonna say YMMV here too..

Re: Help With CAs: Any Luck With These Creditors?

Anonymous — Thu, 25 Apr 2013 18:40:37 GMT

@Shaun

Thanks for the clarification! I do have some trouble getting the CA to provide a letter agreeing to PFD terms. The Medical accounts I dealt with, agreed to PFD, but would not provide paper proof until I paid, so I recorded our conversions just in case. However, I am more weary with the non-medical collections and am wondering if anyone else had the same sort of trouble getting proof in hand of an arrangement?

Also, I thought NY had a five year rule, were a paid account would have to be deleted after the DOFD reached five years? Would it make a difference if I paid it 6.5 years into the DOFD or does the law state that upon payment, it cannot remain for more than 5 years after the fact?

Anyways, I'll take your advice and offer PIF for PFD with a short monthly payment arrangement and see where that gets me. Hopefully Pinnacle wont give me too much of a hassle, since the account is only $85.00. Wish me luck!