Anyone have any experience with Fairway Capital Recovery and PIF/PFD?

[Anonymous]

Hi...IMHO this collection is very unfair, but I need to get it off my credit report.

It's $2999, when the actual balance should be $2000.  I worked on paying off 1500 of an original 3500 balance by an apartment complex, but the complex got tired of my paying smaller amounts (even though I stayed in constant contact with them),  so turned it over to collections.

Fairway added $999 to the amount

The debt is from 2017 but they just started reporting it since the complex turned it over to them after my making payments for 3 years; should I offer PFD or PIF?  Attempt to get them to settle?

Thank you in advance.

[Remedios]

Hi, @Anonymous 

Unfortunately,  accounts can incur additional fees while in collections, and if an account undergoes litigation, amount can double ot triple really fast. 

It's a pretty big amount, and you're probably still within SOL, so I would worry about lawsuit.

You should contact them, there is no reason not to. You can ask if they will remove their reporting in exchange for payment, and see what they say. 

If they dont normally do PFD, you might be able to convince them by offering to pay whole amount, either via payments or lump sum.

You should also ask about settlement amount. What you have going against you is that the account is relatively recent, under SOL, and larger dollar amount. That tends to make CA rigid in terms of accepting settlement, but it's definitely worth a try. 

I think it's for the best if you reach out to them and see what can be done, instead of waiting to see what they do.

If you get sued, they will use alternative means of collecting such as wage garnishment and bank account liens. 

Good luck and I really hope you get this resolved to your satisfaction soon! 

[Anonymous]

Hi..thanks for the prompt response.  

Luckily I'm fortunate enough to be in a position to PIF.  That was my plan, but I wanted to see if anyone had e experience and what to expect when dealing with them.  You are right and everything you've written definitely makes sense. Thanks