Best way to PFD within SOL

[Anonymous]

I'm still getting my ducks in a row on how I'm going to PFD two charged off accounts.  Both accounts are still with OCs and DOLA is about 6 months ago.  What is the best way to PFD on an account that is within SOL? I have the money to PIF so I am safe in that respect. 

I'm trying to figure out if it is best to contact them through snail mail, phone, or email. I'm considering going straight to planetfeedback and trying my luck with a combination GW PFD letter, if that makes sense.  My main objective is not to get sued of course.  But that could happen either way. I'd rather go down trying than having the CC's surprise me with a shock and awe campaign if you catch my drift.  I don't have 5.5 years to wait out the SOL and I want to take responsibility for my debt. 

Is there anybody out there that has had success or failure in this type of situation? Any thoughts, ideas, suggestions would be awesome. 

[Anonymous]

You would just send them a PFD letter. However, IMO, if they don't accept...go ahead and PIF and then GW.

The reason I say this is because 1) It is within SOL -- so they can sue and 2) They can turn over to a CA at anytime and then you have the CA and the OC to deal with.

When were these accounts opened?

[Anonymous]

The accounts were opened in 1999 and 2000 both were in good standing until last year when we had some bumps in the road.   They are actually my husbands accounts and he has other accounts opened in 1999 that are in good standing.

When doing a PFD within SOL that you know is yours, is it best to include why you were deliquent or do you stick to the basics?  I can't seem to find any good examples of how to write a PFD for my situation.  Should I try planetfeedback or just send to CC customer service address on the credit report?

Thanks

[Anonymous]

I would send via snailmail to the CCC.

I would explain what happened and ask if they can reopen the accounts removing the negative information or completely remove the accounts from your reports when you PIF.

I wouldn't make it sound like the PFD letter does "I"ll pay if you do this"  make it sound like "Would you do this when I pay, not if I pay".

[Anonymous]

Thanks for being so helpful.  Now I have a much better way to decide my plan of attack. 

[RobertEG]

You are taking a chance with a PFD letter.  It is a conditional offer to pay, and does not shut off their immediate ability to then turn it over to a CA.  If they do that, then has been cautioned, you will then have both the CO and a CA on your CR, which is not good for credit scoring.

If you pay now without a PFD agreement, it will still remain on your CR (unles you later get them to GW it away), but it will stop them turning it over to a CA, and will of course terminate any chance of legal action.

But if they happen to accept the PFD, then it is gone from credit reporting.

You roll the dice, and take your chances.....