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

[Anonymous]

of deleting.......... Sent a PFD to Conserve a few days ago and they called me back today to "discuss" According to them, what I was asking for was called Credit Bartering and it was illegal They said that what they could do was mark the Account as PAID IN FULL on my CR and supposedly my credit score will increase in a few months? Any truth to this? Is it usual for them to call you in response to a letter? Any advice? Thanks

[azsassycat]

1.  Never talk to the CA

2.  Is this collection past SOL?

3.  Did you send a DV letter before the PFD letter?

4.  Did you offer to PFD for the full amount or a percentage?

5.  It's not illegal - tons of people on this forum have negotiated PFD successfully, myself included.

Give us a little more info and we'll try to help.

Cathleen

[Anonymous]

Are you past SOL?  Personally, I told mine "no thank you - no benefit to me" and I am NOT past SOL.  You don't get a dime unless I get something in return is my philosophy.  And I will make the CA and OC wish they had said yes.

If past SOL send another letter - to someone else in the comany (easy - look on their website). 

There is absolutely no regulation that they can't delete - but the CA Association is against it and tells their members not to.  Even it is 'credit bartering' - it's not illegal and BTW bartering is the oldest form of trade.

[Anonymous]

Thanks all Cathleen 1. Thank you for telling my this.........I was wondering if there was some rule about that 2. I need to find this out, does anyone know what this is for Texas? 3. No, I guess I did that wrong then? Can I still send the DV? 4. I offered to pay the whole amount 5. Good to know, thanks! Scarlett, I will find out the SOL for my state. Thanks again

[Anonymous]

Just checked, and it looks to be 4 yrs for the SOL

[azsassycat]

I've received advise - on this board - to always send a DV letter before you send the PFD letter.  That way you are sure you're paying the right person.

Is this collection older than four (4) years?  When did it go into collections?

[Anonymous]

I will definitely keep that in mind next time and DV first.......can it be done in reverse? Oh yeah, this is from 2005 so I'm still within SOL

[Anonymous]

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

[dieselcafe]

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@Anonymous 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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I talked to 3 collection agencies (Arrow Financial Services, Midland, and NCC) over the phone to negotiate the settlement. I also insisted them to send me the settlement letters and i will only make the payment once settlement letter is received. A few days later, I received 3 settlement letters from these 3 collection agencies. All settlement letters include OC name, Collection Agency Name, the Original Amt owed, and the Settlement amount. I have been making monthly payment to all of them. the last payment will be next month and they will post on my CR that account pays in full. I have a friend who work for a collection agency and he says don't bother writing PFD letter because many CA will not accept it. Some may accept it but it is not their obligation to delete the past due on your report. The past due will fall of in 7 years depending on your state SOL. Also, he says, the best way to get them do delete the past due is communicate with them and willing to work with them, be nice to them, they will do their best to help you.

[dieselcafe]

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@azsassycat wrote:

1.  Never talk to the CA

2.  Is this collection past SOL?

3.  Did you send a DV letter before the PFD letter?

4.  Did you offer to PFD for the full amount or a percentage?

5.  It's not illegal - tons of people on this forum have negotiated PFD successfully, myself included.

Give us a little more info and we'll try to help.

Cathleen

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How come my message only comes in 1 para even when I doubled space it?