Need help with a PFD

Anonymous · ‎10-17-2008

Have posted before about my situation concerning a collection but am ready to make a move with it.

I have a collection reporting on EQ for $410.00,it was for awnings installed improperly.I have gone back and forth with the collection agency for 4 years and they have now turnt me in to EQ.There was a time where they asked me if I would settle for less(before thgey turnt me over) and I refused as I wanted the job completed properly before paying.This all happened before I was Fico concerned and at this point my scores mean more to me than my pride.

This balance due is not disputed by me and had let them know I would be more than happy to pay in full with jog satisfaction.............Ok over and now I want to try and get it off my record.

Would the best route be to try and settle for a PFD?I was thinking about offering $300.00 for a PFD.What I also am concerned about is them then turning it over to the other two or starting a new file with updated date if they decline the offer.The original start date is in 2004.

Thanks for any help as this is really bothering me now and holding my EQ scores way below the other two.

Ok now

edit: I hope you don't mind, but I put your post back into regular size font. (I think it's size 2 with the graphical editor). I'm not sure how many people would have been able to read the original. I didn't change anything else. I'll get out of the way for the responses. --hauling

Message Edited by haulingthescoreup on 10-17-2008 03:42 AM

llecs · ‎10-17-2008

Send them a PFD. I personally would offer the $410 only because I got burned before with CAs. Remember, the CA doesn't have to acknowledge or accept a PFD. I personally would DV them first. You'd want an official written record.

There is also the inherit risk that they may also report to EX and TU if you communicate further with them. I personally would take that risk.

But even before DVing and PFDing, I would go after the OC. I would call the OC to see if they own the debt. Now I would have done this sooner. Everything is 20/20 I guess. I would have called the BBB or any other local agency to complain about the installation. That could have made the debt go away even before it got to this point. But if the OC owns the debt, and since they are not reporting, I would offer them $x amount ($300 is good) in exchange of having this pulled back from the CA.

Anonymous · ‎10-17-2008

You say to DV them first...There really isn't a question about the debt being valid as it has been acknowledged by many past phone conversations.

I'm pretty sure the awning guy turnt it over for collection or how else would I have been contacted by the CA?Is that what you mean by CO?

I'm just really frustrated,I battled with the awning guy and he refused to make any corrections...I should have turnt him over and realize that now but at the same time the CA kept telling me everytime we spoke that they would contact the Awning guy and try and get it worked out...finally just turning me over.I thought it was going to get worked out.Mabey I just nee dto let it go and let SOL take place.I really don't want to risk losing points with the other CRA's even though I realize it is still a possibility and I also don't want to extend the SOL.How many points do you think I would lose if it was turnt over to the other two?

I have one negative on my reports and it's something I got screwed over with.Just dosn't make sense to me.I wonder if I took him to small claims court now and won if that would help?Even if it's for defamation of charechter?

llecs · ‎10-17-2008

Always DV before PFDing even if you know it is yours. You want an official written record from the CA of the balance owed on the debt. CAs are notorious for changing the amount due after a settlement.

Never ever call a CA. Their word is not their bond.

OC = awning guy. Reason I say to contact the OC is because some OCs have the power, based on the contract with the CA, to recall the debt thereby removing it from your CR. It would take negotiation on your part with the OC. If you call the OC and ask if they own the debt, and the answer is yes, then you have a good shot of having the CA removed right away if you pay the OC. The CA does not have to accept the PFD. They could reject it. Well, the OC desn't have to accept a PFD either, but at least they are not reporting.

SOL will only get extended if you make a payment on the debt, in many states anyway. But if this is 4 yrs old, the CRTP wouldn't expire for another 3 or so years. The CA can continue to report through then.

If it were added to the other two, then expect a similar drop. Judging by your FICO scores, and assuming all is equal (and it is not), then maybe up to 70 points. If removed on EQ, then I'd guess the same.

Suing the awning guy? Your SOL may have passed to do that. You'd need to check with your state's laws. What could you sue for, breach of contract maybe? There was probably a clause in your contract that limited the time in which you could bring claim against the OC. If no contract, a judge will probably ask, "Why now?". In any case, check with an attorney.