Guidelines on PFD for Two Accounts - First Post

[voice2hear]

Hello All - 

There is SO much information here, I apologize if this has been asked/answered in another way. I have searched and read a lot but, as you know, every situation is different.

I have been reading up on PFD letters. I have two accounts that I would like to try this with, but almost all templates I see for PFD's  start with "this debt isn't mine", or something like that. I know these debts are mine, but I would still like to see if I can get them removed after paying them. I am trying to buy a house and need to get them cleared ASAP. Can I still use a PFD, but omit any discussion about the validity of the debt?

Here are specifics, if you have any additional advice for my situation!

Creditor 1 - AdAstra on behalf of Speedy Cash ($500). I am willing to pay this in full. Can I just straight-up ask them for the PFD? Should I ask for less?

Creditor 2 - CashCall. They are reporting $1,801.00 on my credit report. I had already paid them 2x the orginal loan amount before I defaulted. In 2010, I offered a settlement for $1,000.00, but was only able to make one $200 payment. I want to offer them $500 in exchange for PFD. Do I bring up the previous settlement agreement that I didn't fulfill, or just stick to the matter at hand, the PFD?

Any help, advice, or direction you might be able to give, I would greatly recommend it. If I can get these two things cleared up, it should skyrocket my credit score, which I need to do quickly. Let me know if you need any more info.

[Anonymous]

Hi and welcome to the forums.

First thing to remember is that a PFD is a type of a good will request.  You are asking them for deletion for your payment.  Be nice and courteous, do not mention dispute anywhere in the letter.   And no, you do not need to mention the validity of the debt.  You know it is yours.

While some will accept a settlement for deletion, others will not. 

I would send them a letter asking if you pay the amount _____ would they delete it from all CRAs.

[voice2hear]

Thanks for the quick reply, and the info. Either way, I'm going to have to pay these, but if I can get them deleted in the process, that would be even better.

[voice2hear]

I thought I would show you the letters I came up (with help from the template on here) with and see if anyone wouldn't mind giving some feed back. I am attempting to do this via email, so please weigh in on that, too.

Here is the letter to AdAstra:

To Whom It May Concern:

I am writing in an attempt to settle this matter with your company. I have reason to believe that the original loan was established under terms that may have violated Tennessee law regarding deferred presentment services.

However, in the spirit of compromise, I am willing to pay this account IN FULL if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms, and accept this agreement, certified funds in the amount of five hundred dollars ($500.00) will be sent in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt.

You agree to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN (10) CALENDAR DAYS following receipt of payment and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, you will not acknowledge that any settlement offer was made, accepted, or executed.

If you agree to the above terms, please respond to this email agreeing to the same terms as the above settlement offer. It will be implied that email acceptance of this offer shall constitute a legally binding contract, enforceable under the laws of my state.

In addition, in accordance with the Fair Debt Collection Practices Act, I am also requesting that all further communication from your company be in writing, via email (XXXXXXXXXX). This will allow us to communicate in a non-pressure environment, and provide clear documentation. Please do not mail anything to my address, or place any phone calls to me. Any violations will be reported to the FTC.

Your prompt attention to this offer would be most appreciated.

_______________________________________

Here is the one to CashCall:

To Whom It May Concern:

I am writing in an attempt to settle this matter with your company. This has sat for too long without a resolution, and bringing this matter to a close will be beneficial to both of us. Since getting this loan, I have paid over twice the principal amount to you. Based on recent litigation between your company and the CFPB, I shouldn't have to to pay any more.

However, in the spirit of compromise, I am willing to pay the amount of five hundred dollars ($500.00) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for any balances on this debt as you may have calculated them.

If you agree to the terms, and accept this agreement, certified funds in the amount of five hundred dollars ($500.00) will be sent in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt.

You agree to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN (10) CALENDAR DAYS following receipt of payment and will not discuss the terms of this settlement with anyone. If contacted by any third party, including credit-reporting agencies, you will not acknowledge that any settlement offer was made, accepted, or executed.

If you agree to the above terms, please respond to this email agreeing to the same terms as the above settlement offer. It will be implied that email acceptance of this offer shall constitute a legally binding contract, enforceable under the laws of my state.

In addition, in accordance with the Fair Debt Collection Practices Act, I am also requesting that all further communication from your company be in writing, via email (XXXXXXXXXX). This will allow us to communicate in a non-pressure environment, and provide clear documentation. Please do not mail anything to my address, or place any phone calls to me. Any violations will be reported to the FTC.

Your prompt attention to this offer would be most appreciated.

___________________________

They are obviously very similar, but differ in some of the specifics (one is a CA and one is a OC). Let me know what you think!

[Anonymous]

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@voice2hear wrote:

I thought I would show you the letters I came up (with help from the template on here) with and see if anyone wouldn't mind giving some feed back. I am attempting to do this via email, so please weigh in on that, too.

Here is the letter to AdAstra:

To Whom It May Concern:

I am writing in an attempt to settle this matter with your company. I have reason to believe that the original loan was established under terms that may have violated Tennessee law regarding deferred presentment services.  I am on the fence about this.  IMO, it is a threat.

However, in the spirit of compromise, I am willing to pay this account IN FULL if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms, and accept this agreement, certified funds in the amount of five hundred dollars ($500.00) will be sent in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt.

You agree to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN (10) CALENDAR DAYS following receipt of payment and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, you will not acknowledge that any settlement offer was made, accepted, or execute  A PFD is a type of GW and this wording should not be used.  Yoy cannot tell them who they can talk to.

If you agree to the above terms, please respond to this email agreeing to the same terms as the above settlement offer. It will be implied that email acceptance of this offer shall constitute a legally binding contract, enforceable under the laws of my state.

In addition, in accordance with the Fair Debt Collection Practices Act, I am also requesting that all further communication from your company be in writing, via email (XXXXXXXXXX). This will allow us to communicate in a non-pressure environment, and provide clear documentation. Please do not mail anything to my address, or place any phone calls to me. Any violations will be reported to the FTC.  Again, a threat.

Your prompt attention to this offer would be most appreciated.

_______________________________________

Here is the one to CashCall:

To Whom It May Concern:

I am writing in an attempt to settle this matter with your company. This has sat for too long without a resolution, and bringing this matter to a close will be beneficial to both of us. Since getting this loan, I have paid over twice the principal amount to you. Based on recent litigation between your company and the CFPB, I shouldn't have to to pay any more.

However, in the spirit of compromise, I am willing to pay the amount of five hundred dollars ($500.00) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for any balances on this debt as you may have calculated them.

I would leave it at that.  It is asking them a favor.  Something along these lines would be better for the first one also.

If you agree to the terms, and accept this agreement, certified funds in the amount of five hundred dollars ($500.00) will be sent in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt.

You agree to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN (10) CALENDAR DAYS following receipt of payment and will not discuss the terms of this settlement with anyone. If contacted by any third party, including credit-reporting agencies, you will not acknowledge that any settlement offer was made, accepted, or executed.

If you agree to the above terms, please respond to this email agreeing to the same terms as the above settlement offer. It will be implied that email acceptance of this offer shall constitute a legally binding contract, enforceable under the laws of my state.

In addition, in accordance with the Fair Debt Collection Practices Act, I am also requesting that all further communication from your company be in writing, via email (XXXXXXXXXX). This will allow us to communicate in a non-pressure environment, and provide clear documentation. Please do not mail anything to my address, or place any phone calls to me. Any violations will be reported to the FTC.

Your prompt attention to this offer would be most appreciated.

___________________________

They are obviously very similar, but differ in some of the specifics (one is a CA and one is a OC). Let me know what you think!

---

[ktl72455]

Here is a simple letter I drafted for a PFD for my son and it worked.

Unique National Collection

119 E. Maple St

Jeffersonville, IN. 47130

1/27/14

To Whom It May Concern:

I am writing to you about account # 11785xx, I was going over my credit report as I get ready to finance a home in the near future and I seen this account listed with you.  I am not sure what I owe the library for and when I questioned my ex-wife about it she just laughed.  

I am asking if I agreed to pay the 81.00 due for this matter would you be willing to help me out and remove it from my credit reports so I can continue moving forward.

I have taken steps to prevent my ex-wife from being able to use my Library account to avoid this in the future as well.

Thank you in advance for any help,