PFD Letters for FHA Loan HELP!!!

[Anonymous]

Need advice.. got pre-approved for a FHA loan, LO said to pay off collection accounts only 2 both under $125.00 each no problem!! Sent PFD letters to both CA's...no response... should I resend the PFD letters (really would like these removed from reports)  or should I send DV letters.... If CA's dont respond to the second letters (which I always send cert. return recpt) is that good enough to submit to the LO? 

[Anonymous]

Who are the 2 CAs???...if you have to pay...I would call them...it is said not to call a CA...but in this case...I would...and offer a PFD over the phone...but it depends on the CA...

[Anonymous]

hi, well actually i received a response yesterday from one of the CA's and they are closing the file and update it with the 3 bureaus.  As for the other one it's Calvary for sprint psc i still haven't heard from them yet but i had disputed this account (early term fee) which is also stated on my cr's.  even though i don't feel like should have to pay it, i will if my loan approval  depended on it. 

[Anonymous]

I was in the same situation from Calvary.  They would not PFD.  Even when I was 1 month away from it dropping off my report and it was really their last chance to get any money from me (it was disupted) I offered to PFD it prior to closing and they would not.  The CSR and her manager both told me they could not PFD.  All they would do was update the account to show paid. 

[Anonymous]

There are many ways CAs end up with accounts, in some cases buying them or bidding them.

In other cases they are on contract with a wide mix of methods.

Being that a CA's business is "collecting\recovering money", I am sure each and every CA will be doing PFD to some extent as the whole credit problem gets a bit worse and the effects start hitting more of the consumers a few months from now in more painful ways.

Also, while some will resort to more agressive and illegal tactics, some will probably may try actually being nice and understanding with people.

Some larger companies will probably start handling some of their own collections to save money and recoup on what they used to write down or send out quickly.

Either way the CA business will grow a lot in the next year and performace will continue to be a driver for how they handle accounts.

Cheers