Discovercard PFD

[Anonymous]

I sent a PFD to Discover a few weeks ago.  I received a letter from them that said they are investigating my submission.

Does anyone have any experience with Discover as to the time frame in which they respond or sucess with PFDs and any indications this return letter may have on the status of my PFD?

thanks for any help.

[valley_man0505]

I'm actually surprised you received a response at all.  They sent me a proposal to settle my CO for 25% of the balance and said they would then update as "settled for less".  I sent a counter-offer for the same 25%, but asking them to either reinstate the account (long-shot at best) or update as PIF rather than settle for less or delete entirely.  They completely ignored my counter offer and began sending me a form letter every other day saying "please call the number below to ask about exciting opportunities to settle your outstanding debt with us" or something along that line.  It was the exact same letter each time.  I have since re-sent my proposal and specifically asked them to respond to my offer before sending anymore generic form letters.  They just received this follow-up last week and I am anxiously awaiting their response.

[Anonymous]

be sure to post if you get a response.  I am not sure how to approach them.  My wife and I are buying a house in the next few months and i am right below the 700 mark right now.  If I pay this charge off or get it deleted, it could put me over the top depending on how it shakes out...

[Anonymous]

Does any know what would happen if i just settled the account for less?  i know it would report that, but would it be better that having a past due balance and a charge off showing up?  would it impact my score positively at all? 

I understand that the best thing is a PFD or a PIF, but I am trying to gauge the level of improvement I might see from each of the three previously mentioned resolutions...