topic Re: Financial Recovery Services in Rebuilding Your Credit

Financial Recovery Services

House2021 — Tue, 06 Apr 2021 01:21:42 GMT

What can you tell me about Financial Recovery Services? This is a collection agency? It looks like they are servicing but do not own a charge off I have from Barclay. Do they report to the credit bureaus? If they do, do they do pay for delete? I received a dunning notice. What type of percentage do they settle for? Should I call Barclay see if they will pull the collection so I can pay them direct? It's a 5 year old debt.

Re: Financial Recovery Services

Red1Blue — Tue, 06 Apr 2021 01:25:45 GMT

They are not a bad company. They go with what Barclay sets as guide line. I got a settlement offer for 40% and 12 monthly payments to pay off the settled amount. I took the 40% offer and I paid it off in 12 months. They go pretty much with what Barclay sets for the terms. As far as I know they do not report on Credit Reports.

Re: Financial Recovery Services

House2021 — Tue, 06 Apr 2021 18:17:33 GMT

I called them. Per the fine print on their website they do it report to credit bureaus (yay!). The rep I spoke to offered to settle for 40 percent of the balance (60 percent off), but only valid until April 30th, can split into two payments if needed. Not bad, I wish my other collections were with this company instead of Midland, PRA, and the other two that I disputed off my report.

Re: Financial Recovery Services

gdale6 — Tue, 06 Apr 2021 19:27:39 GMT

@House2021 wrote:
I called them. Per the fine print on their website they do it report to credit bureaus (yay!). The rep I spoke to offered to settle for 40 percent of the balance (60 percent off), but only valid until April 30th, can split into two payments if needed. Not bad, I wish my other collections were with this company instead of Midland, PRA, and the other two that I disputed off my report.

In this case you make the deal to pay in lieu of them reporting it to the CRAs.