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Offering PFD on charged-off accounts discharged through CH 7?

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Anonymous
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Offering PFD on charged-off accounts discharged through CH 7?

Has anyone had any experience with offering a settlement for accounts that have been discharged in a CH 7 BK in exchange for deletion? 

 

Would this be legal?

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Offering PFD on charged-off accounts discharged through CH 7?

If the BK is discharged there shouldn't be any problem.

Message Edited by llecs on 01-29-2009 01:32 PM
Message 2 of 9
ScoreBooster
Frequent Contributor

Re: Offering PFD on charged-off accounts discharged through CH 7?


@Anonymous wrote:

Has anyone had any experience with offering a settlement for accounts that have been discharged in a CH 7 BK in exchange for deletion? 

 

Would this be legal?


Well, I think that's the question - would be interesting to know..

Message 3 of 9
kjm79
Valued Contributor

Re: Offering PFD on charged-off accounts discharged through CH 7?

On the back of my discharge order it states that "a debtor may voluntarily pay any debt that has been discharged".  I think, since the debt has been discharged and that the creditor had no legal right to payment anymore, you should have great leverage in offering a PFD.  The creditor is no longer entitled to any payment so one would think that they would accept any payment they could.  Haven't tried that myself however.  Almost all of my creditors (except WAMU/Providian) just stopped reporting after our BK.  I've also GW'd a few and they've deleted or revised what they reporting.  I say go for it, it's definitely legal to do so. 

 

 


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 4 of 9
ScoreBooster
Frequent Contributor

Re: Offering PFD on charged-off accounts discharged through CH 7?

Great info!

I didn't see a problem to pay for that after a discharge - I just wasn't sure if a lender could actually accept a payment after discharge (tax reporting issues etc.).

 

That makes PFD really interesting after BK - due to the reasons you mentioned.

Message 5 of 9
Anonymous
Not applicable

Re: Offering PFD on charged-off accounts discharged through CH 7?

I just disputed mine in writing, simply stating that they were inaccurate. Some updated to IIB, but most of them were just deleted.
Message 6 of 9
Anonymous
Not applicable

Re: Offering PFD on charged-off accounts discharged through CH 7?

Thanks so much!  I never even thought to look on the back of my discharge!  Awesome!  Gonna try it.  What would you do?  Offer to pay a settlement or pay in full?
Message 7 of 9
kjm79
Valued Contributor

Re: Offering PFD on charged-off accounts discharged through CH 7?

If the debt is minimal and I could afford to, I personally would PIF.  It was afterall a debt I was responsible for.  For larger debts I would start at offering 30-40% and go from there if they don't accept.

 

I also disputed many of my accounts that were IIB and most of the OC's just deleted the tradeline.  There were a few stubborn stragglers however.   


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 8 of 9
Anonymous
Not applicable

Re: Offering PFD on charged-off accounts discharged through CH 7?

I would dispute first, then consider PFD on whatever is left.
Message 9 of 9
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