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@Anonymous wrote:I am starting the process of helping my husband clean up his credit. He has about 6 collection accounts. I understand that I need to request a PFD when I contact the CA. I seen the example letter for this in the ficoscoring101 link however I am wondering if I should state that I am disputing the debt, since I know that the debt does belong to him? If the CA does not agree to a PFD should I still pay the collection? I am considering getting a loan to pay off all the collections so that we can just be done with it. Will it help to pay them all off at once or one at a time? We need his fico score to increase so that we can refi our mortgage loan we have an arm loan and the rate keeps getting higher. Any advice anyone has will be appreciated.
As I understand it, stating in the PFD letter that you are disputing the debt is a form of protection just in case the CA wants to seriously go after you. All you are trying to say basically "hey! this is on my credit report and if I send you money, I want this off". No need to acknowledge anything. You don't want to give them the ability to come after you (court, etc.) all you want to do is give yourself the best opportunity to get the collection deleted off your report.
manz wrote:I am starting the process of helping my husband clean up his credit. He has about 6 collection accounts. I understand that I need to request a PFD when I contact the CA. I seen the example letter for this in the ficoscoring101 link however I am wondering if I should state that I am disputing the debt, since I know that the debt does belong to him? If the CA does not agree to a PFD should I still pay the collection? I am considering getting a loan to pay off all the collections so that we can just be done with it. Will it help to pay them all off at once or one at a time? We need his fico score to increase so that we can refi our mortgage loan we have an arm loan and the rate keeps getting higher. Any advice anyone has will be appreciated.