Help with DV letters vs PFD

newmimi · ‎04-13-2015

Hi! Looking for info on DV vs PFD letters. I have a few charged off capital one accounts that I am not sure what to do with. I am trying to raise my score within a year to get a mortgage. Unfortunately my scores took a dive after graduating college and not finding a job for a year. Found a great paying job and am working to rebuild! I recently opened 4 secured credit cards, FNBO Kickstart, U.S. bank, and 2 local credit unions. Hoping that having some revolving accounts showing positive and not charged off will help my scores increase, currently only positive are all of my student loans.
So what do you do with charge offs? I don't want to do anything with them that will hurt my score any more than it already has. Help!

RobertEG · ‎04-13-2015

Charge-off of the debt is done and reported by the original creditor.

Debt validation only applies to debt collectors, not creditors.

If the debt that was charged-off has now been paid, you can send them a request for their good-will deletion of the reporting of the charge-off and/or other derogs, or of the entire account.

If the debt remains unpaid, you can send an offer to pay the debt in exchange for their agreement to delete.

If unpaid, there is also the possibility that the OC will assign the debt to a debt collector or selll the debt, thus resulting in liklihood of the addtional reporting of a collection, so the PFD should be promptly sought.

newmimi · ‎04-14-2015

Thanks for your reply! The accounts that were charged off are now all with collection agencies. So at this point my best bet is to send PFD letters and hope they accept?

Does anyone have a sample PFD letter that they could share?

DE2TX · ‎04-14-2015

How old are these accounts?

newmimi · ‎04-14-2015

They are from last year. Not long enough!

Anonymous · ‎04-14-2015

Hi,

If you don't mind me asking..what is a PFD letter??

Thanks,

MrsJenkins

gdale6 · ‎04-14-2015

@newmimi wrote:
Thanks for your reply! The accounts that were charged off are now all with collection agencies. So at this point my best bet is to send PFD letters and hope they accept?

Does anyone have a sample PFD letter that they could share?

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/...

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519