CA's won't PFD.... NOW what?

[Anonymous]

I tried pfd a couple months. Long story short they said they can't do it. Now what do I do? My cr says it will fall off in about a year. Should I wait or? Any experienced help appreciated. Thanks!!!

[seruby]

Is it outside the SOL, so you don't have to worry about being sued for it?   If so, you could wait til it falls off, or try the request again.  From what I've read, people have some success in getting agreements by trying again after the first was declined.   Just depends on who you get I suppose.

[Anonymous]

Midland Credit Management is for two accounts. I've heard a lot about them being terrible to work with. should I ask for verification of the debt and try and try to dispute it? I'm trying to not make the sol start over. I'll look for another pfd letter I guess

[gdale6]

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@Anonymous wrote:
Midland Credit Management is for two accounts. I've heard a lot about them being terrible to work with. should I ask for verification of the debt and try and try to dispute it? I'm trying to not make the sol start over. I'll look for another pfd letter I guess

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If its updating now and is past SOL then I would settle it for less than the full balance. If its not updating monthly leave it till it is removed from your reports, it then becomes a zombie that you can settle for even less. They can attempt to collect forever on an unpaid debt unless you are in WI or MS where the debt is officially dead at SOL expiration.

[Anonymous]

When I got my cr in November it was last updated in october. I don't know too much about charge offs and stuff I do know sol is 7 years in mass. I worked for collection company for a bit just don't remember it all. like I said prior it should fall off in about year. They can't sue me after next year. I also heard if 8 settle 8t still looks bad but not as bad because I paid it even though it took 7 years. I just don't know what to do. I can't afford to settle the 3 accounts. I'll be broke lol

[RobertEG]

The question becomes whether you have a compelling reason/need to satisfy the debt now, or whethe you can wait.

Reasons for satisfying the debt now could include a mortgage application process where the lendor is requiring payment of the delinquent debt as a condition for loan approval, or to prevent further accrual of interest or fees.

If you can wait until after CR exclusion, then PFD becomes moot.  There is no longer any reporting to delete.

If the debt is also outsider SOL, you no longer have any legal obligation to pay.

However, it may still be desirable to be rid of any unpaid delinquent debt.  With payment being voluntary on your part, they are likely to then settle for much less.

If you are not concerned about possible effect of the unpaid debt upon future quests for credit, you can send them a cease communicatin letter under FDCPA 805(c), and bar them from any further communications.

[Anonymous]

No mortar loan anytime soon. Only looking for a auto loan at the moment. I will consider what you said. thanks!!

[Anonymous]

AFNI Wouldn't pfd also. **bleep**