topic Re: PFD sent- now what????? in Rebuilding Your Credit

PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 03:25:03 GMT

I mailed two PFD to Global Pmts, they were recieved on 9/23/08. Was patiently waiting for a reply. One account was for $52.06 the other for $48. Offered to settle each at 25.00

Today we got a HAPPY envelope, with copies of both of the checks and 2 letters; each describing the OC, orig amount, return check fee and total owed. Pretty much I got a DV response.

What should be our next course of action?

PFD letter with the full amount as opposed to the settlement amount?

I understand the amounts are low, but these are checks from over 4 years ago, and times are tough we were really trying to settle for as little as possible. Nonetheless, we will PIF IF and only if the accounts are deleted. I've noticed that marking them "paid" doesn't seem to help much.

Anyone have a letter or advice for Global Payments???

Re: PFD sent- now what?????

Anonymous — Sun, 05 Oct 2008 03:44:27 GMT

Write them another letter and tell them you are NOT asking for validation, you are asking for them to delete the accounts from the CRA if you pay each in full.

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 04:37:20 GMT

I know this is lengthy, but will you tell me, if the new letters are to similar to the old letters? Or what should be changed? I pretty much only changed the first 2 paragraphs. I don't want to leave them any loopholes.

To Whom It May Concern:

This letter is in response to your correspondence dated 9/30/08. I am no longer disputing the validity of this debt; rather I am asking that all information regarding this account be deleted from the credit reporting agencies upon cleared payment in full. I am willing to pay $52.06 if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion).

If you agree to the terms and accept this agreement, certified funds for the full amount owed ($52.06) will be sent to Global Payments, Inc. in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

Global Payments, Inc. agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Global Payments, Inc will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Global Payments, Inc. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state. Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

now the old letter:

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my TransUnion credit report.

In the spirit of compromise, I am willing to pay $25 if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Checkrite Recovery Services Inc in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies. Checkrite Recovery Services Inc agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Checkrite Recovery Services Inc will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account. If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Checkrite Recovery Services Inc. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state. Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act. Please address all correspondence regarding this account to:

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 04:42:21 GMT

also, we have 2 collection accts from the CA, as I previously mentioned, and we mailed them a PFD letter for each account, seperately.

They responded with one envelope, 2 check copies (front and back of each check), and 2 letters. I assume each letter should have been addressing each account, however, it is the exact same letter twice. Same account number and amount, while each check lists a different account number and amount and are obviously the two different checks from the two instances. It looks like a letter they use to fill in the blanks, but the "recovery coordinator" that mailed it reprinted one letter instead of two. SHould we acknowledge this or proceed as if they had sent a letter for each account?

Re: PFD sent- now what?????

RobertEG — Sun, 05 Oct 2008 06:11:08 GMT

Excellent letter. I would only add one further priviso.

An acknowedgement that payment to the CA will also be binding upon the OC to also delete any derogs that they have reproted on the account. Otherwise, the OC reports may still be included.

Re: PFD sent- now what?????

atl — Sun, 05 Oct 2008 12:40:30 GMT

So, let me get this right...you sent a PFD (pay for delete) letter to two CAs, and in the letter you said that you would pay them a lower amount? Why? That doesnt even make sense. Basically, you are asking the CA to do two things FOR YOU: accept a lower payment (when all they have to do is sue you), AND remove their tradeline on your CR. If I worked at a CA and I got a letter like this, I would laugh and send it to the shredder. The LEAST you should have done, is offer to pay in full. Every single one of my PFDs were successful, and I always agreed to pay in full.

Edit: Also, you JUST disputed the account!!! It says so in your first sentence. Did you copy and paste a letter together from several resources?

Edit 2: Im sorry, I just read your entire old letter instead of skimming over it. I see it is a premade letter.

Message Edited by atl on 10-05-2008 05:39 AM

Message Edited by atl on 10-05-2008 05:40 AM

Re: PFD sent- now what?????

Anonymous — Sun, 05 Oct 2008 14:54:10 GMT

Lots of people have had their accounts deleted for less than the full amount - read the archives and the recommendations. No CA is going to go through the hassle of suing someone for $54.

Here's how it works: Businesses write off bad debt. They don't want it on their books from year to year. They take the losses as tax deductions and sell the debts for far less than their paper value to debt collection agencies. Then the CAs employ all these people to haroass, er, I mean contact the debtors frequently enough so they get paid something for the debt. Since they bought the debt for what was probably pennies on the dollar, they are often willing to take less than the full amount. They still make a profit. Their only leverage, since debtors in the US do not go to prison, is that these debts sit on debtors' credit reports. The older the debts are, the less they impact someone's credit, so the less incentive there is to pay theem. Thus, the older the debt, the lower percentage of the full amount a debtor will have to pay to have it deleted from the credit report.

Re: PFD sent- now what?????

atl — Sun, 05 Oct 2008 16:57:42 GMT

Thats good that people have done that for less money than owed, but to each his own. I wouldnt. I have had 100% success with my PFDs, and of course I paid in full.

Also, my mother was sued for $68, from a CA. So, $54 or $68...they will sue. Do you think they care? If they are conducting legal collection practices, they have nothing to lose...they can get the original debt balance, PLUS their fees for attorney, court costs, etc. This is EXACTLY what was happening to my mother...I believe they were suing for $2,300 or more, I cant remember exactly. 99% of that was attorney fees. SO, the moral of this story and countless others...do not say "oh, they wont sue for $___, they have bigger fish to fry", because you are very wrong.

Of course they are WILLING to take less than the full amount, but do you think more people got away with a PFD for LESS than or for equal to the balance? Definintely not the lesser one.

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 19:53:42 GMT

I have actually had success previously for less than was owed. They claimed I owed $2,626 (which I did not) and settled for $500. That is why I attempted to PFD for approx 50%.

Nonetheless, my question regarding the CA mailing me the exact same letter twice still remains. How do I acknowledge this? SHould we call them (which I prefer not to do since verbal communication pretty much means nothing)? Or just mail the updated letters with the FULL amounts owed pretending that they responded correctly?

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 19:56:08 GMT

Hey Robert,

I thought this statement pretty much covered th CA and OC reporting?

"If you agree to the terms and accept this agreement, certified funds for the full amount owed ($52.06) will be sent to Global Payments, Inc. in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt."

Is there better wording that you could suggest?

Thanks.

Re: PFD sent- now what?????

atl — Sun, 05 Oct 2008 21:55:18 GMT

I would send the updated letters, and I would keep the "I dispute this in its entirety" out, because you know where that got you to begin with. Also, do not threaten anything. Dont say "if you dont do this, I will be forced to ask for a full validation of this debt" or what have you, just keep it simple.

Good luck!

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 22:06:01 GMT

thanks ATL,

the updated/editted versions will be mailed monday.

Re: PFD sent- now what?????

Anonymous — Sun, 05 Oct 2008 22:10:48 GMT

One thing, even if they cash the check, they are not LEGALLY required to remove based upon the letter. They usually will if they say they are going to, but it is not legally binding as your debt is already a legally binding situation. By sending payment, you are admitting the debt and therefore the request for removal is not binding (not sure of the exact legal language, just the general point). Make sure you follow up with them and you may have to fight to make sure.

Re: PFD sent- now what?????

Anonymous — Sun, 05 Oct 2008 22:12:25 GMT

Also, as far as the PIF goes.

I have seen that for larger debts, they are more likely to accept a PFD with a smaller amount. I have also seen that with small debts, they are more likely to delete after the full amount is paid. Once they got you on the hook, if you can pay 25 they know you can pay 50. the same is not true with a 2K debt for example.

Re: PFD sent- now what?????

scottie_mommy — Sun, 05 Oct 2008 22:17:02 GMT

Final draft (I hope) I tried to clean it up. Please let me know what you think? Also, should I replace "to whom it may concern" with "dear Monce Rivera" that is the person who repsonded to the first letter.

To Whom It May Concern:

If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to delete ALL information regarding this account from the credit reporting agencies, including any reporting by the original creditor, and have it signed by an authorized representative of Global Payments, Inc. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state. Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn.

PFD success~ woohoo!

scottie_mommy — Tue, 21 Oct 2008 17:21:17 GMT

Thanks to everyone who chimed in.

We got the PFD response today and Global Payments agreed to delete 2 accounts upon payment.

YAY!!!! I'm so excited. They are small ($52.06 and $47.98) but they will be gone!!!! That's 2 less baddies for my fiance!!! They weren't being reported as collections either, they were being reported as 120+ days late. So....yay!!! Still waiting for DV response from T-Mobile CA and so far a fraudulent medical has been deleted from only one CRA, so in another 30 days or so, I'm gonna pull an updated score for all 3.....can't wait to see where our progress has landed us!

Re: PFD success~ woohoo!

Anonymous — Tue, 21 Oct 2008 17:31:30 GMT

Congrats!!! Hard work does pay...

Re: PFD success~ woohoo!

scottie_mommy — Wed, 21 Jan 2009 20:12:46 GMT

They are still on the CRs!!!

My certified mail reciept shows they were delivered on 12/8/08 at 9:13am.

We pulled my DH EX report yesterday and both of the checks are still listed in the accounts section of his report making his util rediculously high. Both accounts list limit of $0 with balance owed of $48 and $52.

How long should we wait to see those disappear? If they don't disappear what is our next step?

Re: PFD success~ woohoo!

Anonymous — Thu, 22 Jan 2009 00:20:57 GMT

sorry to hear that, but CAs will tell you that it's customary for CRAs to take up to 60 days to process a deleteion.

I would wait 60dd from receipt of your checks, and if not gone by then, then send a letter to the CA that any further presence on your credit reports will be considered breach of contract on their part.

we'll cross the bridge when we get there.

Re: PFD success~ woohoo!

Anonymous — Thu, 22 Jan 2009 01:32:20 GMT

I guess it's too late now, but don't forget to ask for them to delete from Innovis too! (You HAVE checked your Innovis report this year, haven't you?)