Are there any pros/cons to paying a CO that will not PFD, then immediately disputing as PIF (as in 10 minutes later)? I understand this seems a bit shady, but it seems to me a surefire way to get the balance updated to 0 in less than 30 days.
They have up to 30 days to respond to a dispute. They may have auto updates on the first of the month. Pushing it and it comes back verified without an update will ding your score as an update. It isnt worth gaming the system to get hit with an update/ding.
I do this and have about. 90% success rate. Below is what I do.
I make payment for the settled amount AFTER getting something in writing that this will close the account out blahs blahs blah.
I include that letter with payment when I mail it in, usually by check
I wait for the payment to clear and for the company to send me a pic letter back on the mail saying the account is now settled and closed out.
I then dispute by mail and include the settlement offer letter and the letter that shows I paid the account with my dispute.
I usually do this 2 to 4 weeks after paying not right after
Thanks for the replies.
@FiresOut yeah that makes sense. I was just looking for a way to speed up the update process. I think I'll be in a decent position to app for my 3rd card after that PIF update and getting antsy.