Sent PFD to CA, they want to mark account PIF instead...

[llecs]

If you pay via a settlement, that is not a PFD, you still will have the CA on your CR. Also, your score will not improve any, as a result of the CA listing,  and the CA will remain to 2009. You will look more favorable if there was a manual review, but you won't see a bump in score.

Also, if you pay less than the full amount owed, then you run the risk of sneaky tactics by the CA. In my pre-MyFICO days, I too settled and for less than the amount owed. I also received letteres from the CAs. Two of them, after the last payment was made, resold my info to yet another CA and those new CAs posted their info on the CRs and resumed collections!!! They never would acknowledge the settlement letters I sent them. BTW, Arrow was one of them.

A PFD is a win-win-win scenario. The OC gets paid, if applicable. The CA got their money if in full. And you get a better looking CR.

I'd do a DV and dispute via the CRAs first. If verified, go after a PFD, preferably in full.

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worth_more_than_myfico wrote:
UPDATE: I got another response from another PFD I sent out, they sent me a counter offer to mark the account as PIF, how do I handle this? Send them another PFD? maybe a DV instead?(I should have done this first, I realize now). Also this one is from 2002 and as noted above the SOL is 4yrs here in TX.........what to do what to do?

Message Edited by worth_more_than_myfico on 01-25-2008 11:50 PM

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[Anonymous]

Ok, so I sent a PFD to CMI offering to PIF and here is the exact wording of the letter they sent me

"Our office is in receipt of your letter regarding the above referenced account. Our client COMCAST submitted this account to our office for collections on June 28 2002. This account has an outstanding balance of $366.97................. for service prior to May 28 2002.

Once payment is received this account will be updated as paid in full with the national credit bureaus"

So basically they made me a counteroffer.............. so my questions are


1) does this wording count as DV on their part? I only ask because I'm planning to DV them as my next course of action (again I realize now that I should have done that first)

Also, please note that I'm out of the SOL

2) and has ANYONE ever gotten stuff removed by CMI, spoke with 2 people on the phone and they didn't budge an inch.


3)can I still deal with the OC, (Comcast) pay them and have them call off the CA? Comcast is not reporting it on my CR

Thanks

[Anonymous]

This is not DV on their part. Go ahead and send a DV letter to them.

In regards to comcast, you can call them and ask if they still own the debt. If they do, you can take care of it through them instead of dealing with CMI.

[Anonymous]

Thanks SanFran will do!

Now to my next question.......

I called the OC (Comcast) to see if I could pay them direct and have them remove the account from my record. The lady I spoke with told me that if I paid them, they would update their records as "Paid" and then I could turn around and Dispute it with the CRA who would then remove it completely (as opposed to PIF)

Does this sound right?

Obviously I would need to get it in writing.......but basically, will the CRAs remove it if the OC reports that I have now paid them?

[Anonymous]

What a nice lady. Yes, that is right. If you pay the OC then the CA has nothing to collect so they are required to delete it. As she said, once you pay it you would dispute it with the CRA and since the CA won't be able to verify that you owe them the money (it's already been paid to OC) it will be deleted. Did I repeat myself? LOL

[Anonymous]

Wow! really? so why does anyone ever deal with CAs? if this is the case then I'm planning to call all 5 of my OCs and negotiate with them.........seems much easier than dealing with the CAs

Do I need to get this in writing from Comcast?

How do I go about getting a letter from them? PFD?

Message Edited by worth_more_than_myfico on 01-31-2008 12:24 PM

[llecs]

OCs are better but the challenge is if the OC sold the debt to CA, and if you mailed pmt to OC, they could just sign it over and give it to CA causing the baddie to continue to report.

[Anonymous]

Uggh, that would be an ugly scenario and something that really scares me...........how do I prevent it?

[llecs]

Figure out who owns the debt (usually can tell based on who reports) and get everything in writing...no phone calls. A PFD covers this well.

Message Edited by llecs on 01-31-2008 05:55 PM

[Anonymous]

Thanks, does anyone have a sample of a good PFD for an OC?

I'm thinking the wording on the CA PFD might not be good since there's a line in there which specifically mentions me "not admitting" to owning the debt

Anyone ever used a PFD for an OC?

Thanks again, you guys are all awesome!