topic Re: Has anyone done a PFD with Fidelity? in Rebuilding Your Credit

Has anyone done a PFD with Fidelity?

Anonymous — Fri, 27 Jan 2017 07:04:18 GMT

I've had a Collection account with them for years it's not coming off until 2020, which isn't too far away but far enough to make me willing to PFD.

I'm wondering has anyone successfully done a PFD with this collection agency it's called Fidelity Creditor SVC based in Glendale, CA.

Re: Has anyone done a PFD with Fidelity?

Anonymous — Fri, 27 Jan 2017 15:53:11 GMT

Bump

Re: Has anyone done a PFD with Fidelity?

Anonymous — Fri, 27 Jan 2017 17:37:47 GMT

Oh well I called them and told them I was trying to work on my credit. I told them I would be able to PIF today if they are able to remove this account from my credit reports. He put me on hold to check with his credit department 2 mins later he comes back and says they are able to do it as a courtesy if I PIF. So I agreed and paid in full he said it can take 30-45 days but that their next update to the CRA's is next week and it may get processed then it just depends.

Hopefully this goes well and it gets removed! I live in CA where verbal contracts are binding plus it was on a recorded line so legally they have to honor it I'll update when they remove it!

Re: Has anyone done a PFD with Fidelity?

sjt — Sun, 29 Jan 2017 23:43:04 GMT

@Anonymous wrote:
Oh well I called them and told them I was trying to work on my credit. I told them I would be able to PIF today if they are able to remove this account from my credit reports. He put me on hold to check with his credit department 2 mins later he comes back and says they are able to do it as a courtesy if I PIF. So I agreed and paid in full he said it can take 30-45 days but that their next update to the CRA's is next week and it may get processed then it just depends.

Hopefully this goes well and it gets removed! I live in CA where verbal contracts are binding plus it was on a recorded line so legally they have to honor it I'll update when they remove it!

Congrats!

What was the collection for?

Re: Has anyone done a PFD with Fidelity?

Anonymous — Sun, 29 Jan 2017 23:56:33 GMT

A payday loan from 2013 thanks!

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 30 Jan 2017 03:52:38 GMT

@Anonymous wrote:
Oh well I called them and told them I was trying to work on my credit. I told them I would be able to PIF today if they are able to remove this account from my credit reports. He put me on hold to check with his credit department 2 mins later he comes back and says they are able to do it as a courtesy if I PIF. So I agreed and paid in full he said it can take 30-45 days but that their next update to the CRA's is next week and it may get processed then it just depends.

Hopefully this goes well and it gets removed! I live in CA where verbal contracts are binding plus it was on a recorded line so legally they have to honor it I'll update when they remove it!

* Also remember, when you incurred the debt in 2013, it was a binding contract, and you legally had to honor it.

Lets hope they don't take four years for fulfilment on their end.

Congratz on your accomplishment!!!!

Re: Has anyone done a PFD with Fidelity?

sjt — Mon, 30 Jan 2017 06:34:44 GMT

@Anonymous wrote:
A payday loan from 2013 thanks!

FYI, under the National Consumer Assistant Plan, PayDay loans can no longer be reported on your credit reports.

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 30 Jan 2017 06:36:46 GMT

I disputed it maybe 2 months ago and it came back as verified which is why I went ahead with the PFD

Re: Has anyone done a PFD with Fidelity?

sjt — Mon, 30 Jan 2017 06:38:38 GMT

@Anonymous wrote:
I disputed it maybe 2 months ago and it came back as verified which is why I went ahead with the PFD

What was the dispute reason?

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 30 Jan 2017 06:40:04 GMT

I can't find anywhere that says if you default on a payday loan it can't be reported to the CRA's

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 30 Jan 2017 06:40:41 GMT

Contains multiple inaccuracies verify everything.

Re: Has anyone done a PFD with Fidelity?

Anonymous — Sat, 04 Feb 2017 06:25:40 GMT

No changes to my reports yet I hate the waiting game

Re: Has anyone done a PFD with Fidelity?

Anonymous — Sat, 04 Feb 2017 22:42:45 GMT

Wow. That comment was a bit much.

Re: Has anyone done a PFD with Fidelity?

Anonymous — Sat, 04 Feb 2017 22:56:50 GMT

Bramma_99 - What that nothing has changed in my report yet?

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 06 Feb 2017 16:58:30 GMT

Update - Today I checked my EX report and it's been removed!

FICO went up a whole 7 points (was hoping for at least 15) still have 1 CO and 1 collection related to that CO then I'll have no derogs!

Re: Has anyone done a PFD with Fidelity?

sjt — Mon, 06 Feb 2017 17:04:48 GMT

Congrats!

What is the other CO/Collection you have?

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 06 Feb 2017 17:14:41 GMT

Thanks!
Wells Fargo from 2011 1.8k
Collections is through Greater California Financial for 1.8k they do an update every month I think that's what's hurting the most.

Re: Has anyone done a PFD with Fidelity?

sjt — Mon, 06 Feb 2017 17:21:10 GMT

@Anonymous wrote:
Thanks!
Wells Fargo from 2011 1.8k
Collections is through Greater California Financial for 1.8k they do an update every month I think that's what's hurting the most.

So Wells Fargo sold the debt to Greater California? on your credit report does it state that Wells Fargo sold the debt and zeroed out the balance? Never heard of a collection agency reporting monthly, and yes monthly reporting surpresses your score. I would contact the collection agency and settle. Once its zeroed out you will see a bump in score.

Re: Has anyone done a PFD with Fidelity?

Anonymous — Mon, 06 Feb 2017 17:33:16 GMT

Yes Wells Fargo sold it and it does say something like that.

I think they're updating monthly because it's literally the only thing they can do it's been out of the SOL since 2015 and it will be removed via EE in March of 2018. Honestly I can't pay much at the moment I would be willing to do a PFD for 10% of the balance considering the circumstances they are literally dead in the water and updating monthly is their only power at this point.

And even if I somehow manage to pull off a PFD for 10% Wells Fargo definitely isn't removing it. So it looks like I'm stuck with it for 1 more year.

Re: Has anyone done a PFD with Fidelity?

gdale6 — Mon, 06 Feb 2017 22:37:00 GMT

@Anonymous wrote:
Yes Wells Fargo sold it and it does say something like that.

I think they're updating monthly because it's literally the only thing they can do it's been out of the SOL since 2015 and it will be removed via EE in March of 2018. Honestly I can't pay much at the moment I would be willing to do a PFD for 10% of the balance considering the circumstances they are literally dead in the water and updating monthly is their only power at this point.

And even if I somehow manage to pull off a PFD for 10% Wells Fargo definitely isn't removing it. So it looks like I'm stuck with it for 1 more year.

Per CRA rules a creditor should not update monthly if the account has been sold. If WF sold it then they cannot make any deals with you either.