HELP! Quick PFD question!

[Anonymous]

I am going to try a PFD on the only debt I have remaining with a CA. My question is, do I send the PFD to the CA (Midlund Funding) or the OC (Synchrony Bank)? They are both reporting the account on my credit files. I am currently in a long-term payment plan with Midlund but can afford to PIF now if need be. If Midlund agrees to the PFD, Synchrony can/will still report the collections account correct? So would it even help me?

[Anonymous]

If the debt is two years old or older, once you pay it, they’ll delete automatically (it’s their policy). Synchrony will remain unless you can talk them into a GW delete, which seems to not be the easiest to get them to do. I’m in the same boat as you - I have a Synchrony chargeoff on my account that I’m starting a GW campaign on to remove also. Hopefully we both get lucky.

I had Midland this past summer - soon as I paid them, they updated status in a day or two and were gone completely in one billing cycle.

[Anonymous]

Thank you for the info! I am debating calling Synchrony and seeing if they will pull the account out of collections if I pay them in full before sending my PFD letter to Midlund. Out of curiosity...did you mail you PFD letter to Midlund or try and negotiate with your account manager directly on the phone?

[Anonymous]

That would be a great way to do it, IF they will agree to a PFD. I don’t believe they’re known for doing that.

I dealt with them before I found these forums and didn’t know of PFD. I called and said I wanted to pay my debt, made arrangements, and they (Midland) told me on the phone that their policy was to PFD, which they did.