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Ad Astra Recovery Services Settlement

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Anonymous
Not applicable

Ad Astra Recovery Services Settlement

Hey everyone. I have one more collection on my credit and it's with Ad Astra Recovery for $2,300. It's only 1 year and 2 months old. They told me they will not do a PFD until it's 2 years old. But we are planning on buying a house before that time. I feel like my best option now is to just settle but does anyone know how low they will usually go with a settlement? I'm scared to call and ask cause I've read that they will only offer a settlement 1 time and it would have to be paid within 24 hours. Not sure if that's true or not. 
also, if I settle, would this help with score at all? I have a couple other charge offs that are paid but no other collections. 
If anyone has any knowledge on this, I would appreciate the help!

thanks in advance. 

Message 1 of 10
9 REPLIES 9
FireMedic1
Community Leader
Mega Contributor

Re: Ad Astra Recovery Services Settlement

Welcome @Anonymous 

Paying off a collection wont do anything to help your score. As it ages little bumps. But if you go to apply for a mortgage. They'll want it paid off. So its pay off and get the house. Or wait uo to 2 yrs and it will deleted and then get the house. Start low and go from there. But its kinda fresh per say. They wont go too low. If it was 6y/o. Then you'd have more bargaining power.

 

Find out on your reports when it went deliquent. Thats their 2 yr rule. Not when they got the account.

"Ad Astra Recovery Services, Inc. intends to request the removal of reported tradelines associated with an account that has been paid in full or settled, and where more than two years have passed since the account’s date of delinquency."


Message 2 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement

Ok makes sense. So as far as a settlement, do you think asking for 70% would be too low?

Message 3 of 10
OmarGB9
Community Leader
Super Contributor

Re: Ad Astra Recovery Services Settlement


@Anonymous wrote:

Ok makes sense. So as far as a settlement, do you think asking for 70% would be too low?


70% off or that you're willing to pay 70% of what you owe? If it's the former, I'd say offer them that and see what they say. I mean you never know, they may accept. Also, did you find out when your DOFD was? If it's been 2 years or more since the ORIGINAL account was COd, they'll delete upon payment.


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Message 4 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement

I have not been about to find out when my DofD was and I'm scared to call them honestly without having some cash on hand to pay them. I'm thinking by the end of next month I will be ready. And as far as the settlement, I was thinking if I offered to pay 70% of the balance. 
I will wait till next month and give them a call if I can get it deleted within the next couple of months, I will pay the balance in full because it would be worth it as that is my only remaining collection!

thank you for help!!

Message 5 of 10
OmarGB9
Community Leader
Super Contributor

Re: Ad Astra Recovery Services Settlement

I'd suggest offering less, maybe like 40-50%. I mean the worst they can do is say no, and anyway they'll counter offer with something more suitable to them if that's too low. But you don't have to call them to find your DOFD. You can look in your free reports on annualcreditreport.com.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 6 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement

Ok that makes sense. I will check on there. 

Message 7 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement


@Anonymous wrote:

Ok that makes sense. I will check on there. 


How did it go with AD Astra?

 

I settled with them on a over 5 year old account a few days ago. They offered 35% off and I countered with 50% of balance and they accepted. Who knows, I probably could have gone lower since it was so old and out of SOL. It was a little less than the original principle and they noted that they accepted my offer because I had made 2 "large payments" when I had the SpeedyCash account, which definitelt totaled more than the original principle right there. 

 

Now to see how long it takes for them to update and then remove the CA from my CRs!

Message 8 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement

@Anonymous  At first they offered a 75% settlement (not sure if I'm saying it right. They wanted me to pay 75%) and said that was the lowest they would go. I told them that it was ok I would wait a little longer until they were ready to come down to closer to 60%. She put me on hold and went back to her supervisor and came back with 65%. I accepted and paid it right away. That was a week ago tomorrow. I'm not sure what day of the month they update but I can't wait!!!

im glad you got yours taken care of as well. 

Message 9 of 10
Anonymous
Not applicable

Re: Ad Astra Recovery Services Settlement


@Anonymous wrote:

@Anonymous  At first they offered a 75% settlement (not sure if I'm saying it right. They wanted me to pay 75%) and said that was the lowest they would go. I told them that it was ok I would wait a little longer until they were ready to come down to closer to 60%. She put me on hold and went back to her supervisor and came back with 65%. I accepted and paid it right away. That was a week ago tomorrow. I'm not sure what day of the month they update but I can't wait!!!

im glad you got yours taken care of as well. 


Awesome! So glad to hear! We will wait together then to see whn they update, since we roughly did it around the same time. I feel like on my CRs they update the 1st of the month. I am going to be waiting (im)patiently!

Message 10 of 10
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