Experts need help with PFD

[T50]

I talked to one of the CA's on my report.  They told me verbably over the phone that if I PIF that they would PFD.  My question is how do I move forward with this?  I am aware not to believe anything verbally over the phone to get it all in writing.  But they won't put it in writing till I PIF?  So how would I proceed?  Please help me as I would like to get this off my report ASAP to see how much my score would rebound?  Anyone have any idea how much my score would raise if/when i get this off my report? 

[RobertEG]

Request this commitment in writing prior to sending any funds.

[LIGHTNIN]

a paid ca is the same as unpaid , no score change.

Also depends on how old the collection is. What is your DOFD????

If your beyond your SOL,its easier to deal with them.In my experience, the older the collection acct, the less they will expect for payment.

I have a 6yr old collection acct. orginal amount $90.00. Over the past few years they wanted over couple hundred.

Received statement in the mail yesterday for 40% (60%off) we are close to the $90. I send them a PFD for $90 and we will see, if I get a signed agreement.  (Boy o boy, have i learned my lesson over just $90) Never do that again, I'll beg or borrow , maybe should have called the OC for payment arrangements. WAS young and DUH 

Hope this helps.DONT talk with CA....Read alot before repairing credit. And make sure you have the $$ before dealing with CA,.

ps reason why the wont give it to you in writting,before you pay is they dont want to delete. If they wont work with you on this, then work on something else on your CR, till they change their minds.

[Anonymous]

What is the DOFD and SOL of the account?

You might also check your states statutes to see if they honor restrictive endorsements.

[T50]

I did request this in writing.  However, they said they can not do that until I pay in full....  Is there something I can write to them?  I am not going off of someones word over the phone.  I am not that in-experienced.  So whats the best way to get them to do it?  Just have them send me out a letter saying they will delete if I pay in full?  I live in ohio, so SOL is 15 years from DOFD.  So I am trying to get this off ASAP.  Anyone know if I PIF the OC if the CA has to remove it from my CR?   Please someone help....

[RadioRob]

I would tell them you cannot pay it then until they send you something in writing.  

If they are not lieing to you, then they should not have a problem in confirming their agreement in writing.  

Remember...  at the end of the day, they're end goal is to get the money.  If they're serious about it then they'll do it.  My statement would be something along the lines of "I have your $XXX sitting right here in my hands....  I want to give it to you.  I just need your help in making that happen.  The only way it will work is for you to do what I ask.  It resolves the situation in a way that is amicable to both of us." 

[RadioRob]

Also be careful with phone calls to a collection agency.  I would personally recommend keeping all communication in writing.  

Good luck! 

[Anonymous]

You say SOL is 15 years, is this for a promissory note? What is the DOFD?

Who owns the account?

What is the DOFD?

Who is reporting the OC or a CA or both?

[RobertEG]

You are dancing a tightrope by talking to the CA.

Ohio SOL law is brutal.  I dont know how much the debt is, but you can bet that is a big factor in the mind of the CA.

If you show interest in paying, and the SOL is far from expiration, and the debt is substantial, you run the risk of provoking the CA to bring immediate legal action against you.

I cannot offer sound advice on how to proceed, for I cannot predict what the CA will do.

If the CA is not willing to put a PFD agreement in writing to you before payment, I would be very, very leary that they will delete once the money is in their pocket.  To do that is contrary to their reporting contract with the CRAs, and you will become just another paid customer once they have your money.