Financial Recovery Services

[House2021]

What can you tell me about Financial Recovery Services? This is a collection agency? It looks like they are servicing but do not own a charge off I have from Barclay. Do they report to the credit bureaus? If they do, do they do pay for delete? I received a dunning notice. What type of percentage do they settle for? Should I call Barclay see if they will pull the collection so I can pay them direct? It's a 5 year old debt.

[Red1Blue]

They are not a bad company. They go with what Barclay sets as guide line. I got a settlement offer for 40% and 12 monthly payments to pay off the settled amount. I took the 40% offer and I paid it off in 12 months. They go pretty much with what Barclay sets for the terms. As far as I know they do not report on Credit Reports.

[House2021]

I called them. Per the fine print on their website they do it report to credit bureaus (yay!). The rep I spoke to offered to settle for 40 percent of the balance (60 percent off), but only valid until April 30th, can split into two payments if needed. Not bad, I wish my other collections were with this company instead of Midland, PRA, and the other two that I disputed off my report. 

[gdale6]

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@House2021 wrote:

I called them. Per the fine print on their website they do it report to credit bureaus (yay!). The rep I spoke to offered to settle for 40 percent of the balance (60 percent off), but only valid until April 30th, can split into two payments if needed. Not bad, I wish my other collections were with this company instead of Midland, PRA, and the other two that I disputed off my report. 

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In this case you make the deal to pay in lieu of them reporting it to the CRAs.