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Collection agencies that do PFD

calyx
Super Contributor

Re: Question about collection agencies that do PFD

This is a great idea, thank you.



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Message 11 of 128
simplegirl
Valued Contributor

Re: Question about collection agencies that do PFD


@Remedios wrote:

@simplegirl wrote:
The thing that confused me about midland is they will delete 2 years from the DOFD and not from when they bought the account.

We can annotate that next to CA name.

Is Portfolio same way? 

 

Also, will  payments in installments  and settlements also result in deletion? 


Portfolio deletes no matter what 30 days after payment. It doesn’t matter if you settle or pay in installments it will just get deleted after last payment. As Astra is the same way as Midland. Source Receivables will probably only do it if you pay in full. National Credit doesn’t answer PFDs.








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Message 12 of 128
Remedios
Moderator

Re: Question about collection agencies that do PFD

Okay, so I've edited the first post so it's less goofy.

Please feel free to add, and I'll do my best to keep the first post updated and as current as possible. 

 

Thank you all for your contributions to the community. You rock (some might even roll) Smiley Happy

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Message 13 of 128
RobertEG
Legendary Contributor

Re: Collection agencies that do PFD

A possible downside.........

 

The CRAs official policy, as clearly stated in their common credit reporting manual, the Credit Reporting Resource Guide, is that furnishers should not delete reporting based on payment of a debt, as such subjective deletions result in incomplete credit history files.

They dont consider that to be in their business interest, or in the interest of those seeking complete credit reports.

 

While I am not aware of any actions taken by any of the big-3 CRAs against furnishers who are openly not complying with that provision of their credit reporting agreements, should they decide to do so, then a comprehensive list of furnishers who routinely act contrary to their credit repporting agreements might be a negative.....

Message 14 of 128
simplegirl
Valued Contributor

Re: Collection agencies that do PFD

Yeah but some of these CAs state it on their company websites.







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Message 15 of 128
FireMedic1
Super Contributor

Re: Collection agencies that do PFD

If you like. I'll grab from the CA's website their policy for your first post. Hmm. No 2 yrs now?

Portfolio: Your account will be considered paid-in-full or paid-in-full for less than the full balance after your final payment is successfully posted. Within approximately 30 days of your final payment successfully posting, we will request the credit reporting agencies delete the PRA tradeline related to your account from your credit bureau report.

Message 16 of 128
FireMedic1
Super Contributor

Re: Collection agencies that do PFD

Midland: Per our policy, we stop credit reporting on accounts that are Paid in Full or Paid in Full for less than the full balance and more than two years past the date of delinquency. 

Message 17 of 128
FireMedic1
Super Contributor

Re: Collection agencies that do PFD

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. We may have other obligations under the law to delete a tradeline.

Message 18 of 128
fluxxer69
Valued Member

Re: Collection agencies that do PFD

Allied Business Services won't do PFD as I found out yesterday. 


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Message 19 of 128
ImTheDevil
Community Leader
Super Contributor

Re: Collection agencies that do PFD

AFNI will do automatic PFDs just like Portfolio, from what I know it’s irrespective of the age of the delinquency. I speak from personal experience with them - took about 40 days to disappear from my reports.


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Message 20 of 128
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