cancel
Showing results for 
Search instead for 
Did you mean: 

How long to keep requesting for PFD

tag
minimist
New Contributor

Re: How long to keep requesting for PFD

@RobertEG I had a question about this statmenet that I'd been trying to clarify myself

 


@RobertEG wrote:

A secondary factor is while the debt remains unpaid, its period of delinquency is continuing to increase.

If they are not continuing to report escalating levels of delinquency, such as a higher monthly derog of 90/120/150/180+ late, then FICO is not viewing the debt as continuing to escalate in "lateness."

 

However, if the creditor is continuing to make monthly updates that show the debt remains unpaid, FICO effectively treats such updates as a contunued extension of the effective delinquency, and the derogs are not decaying in their scoring effect.

Is the creditor continuing to make monthly updates that show continued delinquency?  If so, paying will terminate such updates, and permit the derogs to begin to age.....



I thought that the aging starts at the date of first delinquency? However based on your statement if I'm understanding correctly a creditor could theoretically update the TL forever, and it would stay on your report forever? If that is the case then is PFD the only way to get it removed? I have a TL that is not mine but I acknowledge responsibility for that gets updated every month and they are refusing to accept a PFD. They have updated every month for the last few years, before I was even in the credit game. Its very disheartening to hear this as that negative will basically be on my reports for forever it seems now.

Message 11 of 15
Anonymous
Not applicable

Re: How long to keep requesting for PFD


@minimist wrote:

@RobertEG I had a question about this statmenet that I'd been trying to clarify myself

 


@RobertEG wrote:

A secondary factor is while the debt remains unpaid, its period of delinquency is continuing to increase.

If they are not continuing to report escalating levels of delinquency, such as a higher monthly derog of 90/120/150/180+ late, then FICO is not viewing the debt as continuing to escalate in "lateness."

 

However, if the creditor is continuing to make monthly updates that show the debt remains unpaid, FICO effectively treats such updates as a contunued extension of the effective delinquency, and the derogs are not decaying in their scoring effect.

Is the creditor continuing to make monthly updates that show continued delinquency?  If so, paying will terminate such updates, and permit the derogs to begin to age.....



I thought that the aging starts at the date of first delinquency? However based on your statement if I'm understanding correctly a creditor could theoretically update the TL forever, and it would stay on your report forever? If that is the case then is PFD the only way to get it removed? I have a TL that is not mine but I acknowledge responsibility for that gets updated every month and they are refusing to accept a PFD. They have updated every month for the last few years, before I was even in the credit game. Its very disheartening to hear this as that negative will basically be on my reports for forever it seems now.


No, updating does NOT make it stay on longer. It only affects how strongly FICO scores it.

 

If you have a derog that is not yours, then you should use FCRA 605B (ID Theft provision) to get it removed.

Message 12 of 15
minimist
New Contributor

Re: How long to keep requesting for PFD

Thanks for the reply Norman, I will look into that. It was a utility account opened by a family member in my name without my knowledge and I found out years later when I applied for my first cc. I've explained the situation to them and they want me to file a police report and press charges which I refuse to do. I'd rather just pay it and have them remove it which they refuse to do, I have no idea why they wouldn't as it should make no difference to them if they have their money. Thank you again for the info.

Message 13 of 15
Anonymous
Not applicable

Re: How long to keep requesting for PFD


@minimist wrote:

Thanks for the reply Norman, I will look into that. It was a utility account opened by a family member in my name without my knowledge and I found out years later when I applied for my first cc. I've explained the situation to them and they want me to file a police report and press charges which I refuse to do. I'd rather just pay it and have them remove it which they refuse to do, I have no idea why they wouldn't as it should make no difference to them if they have their money. Thank you again for the info.


FCRA 605B works directly with the CRA's, the collector has zero input in the process. While a police report may be necessary, you are not required to point a finger at anyone. Simply take a copy of your reports to the PD, explain that you have an account you know is not yours and you wish to make an ID theft report so it can be removed from your reports. Show them a copy of FCRA 605B if necessary.  

Message 14 of 15
Anonymous
Not applicable

Re: How long to keep requesting for PFD

I'm sorry to hear you're going through a hard time having this addressed with Sarma. Around 3 years ago I also had a collection though them in which I was not aware of until I began wanting to build my credit and receiving a denial based on delinquent account.
it sounds like you have spoken with them on the phone. When I called in, I simply inquired about the debt in question and when she attempted to build a payment structure for me, I stated I was well aware of it being past SOL but that I was willing to make good on my debt in full for removal of this trade line. (PFD). She had to ask a supervisor who said it could be done but I refused to make payment over the phone until I received a letter in writing (faxed or mailed) to me. Kinda seemed annoyed by it but it was done in a matter of 2-3days. Have you maybe requested speaking to a supervisor in regards to this debt? Maybe someone higher up has the ability to wiggle more than front line reps.. Or maybe an email search for a CEO contact. Although he obviously wouldn't read it himself, his exec team would maybe be a lot more accommodating to your request.
Just different options for you, I wish you the best of luck!
Message 15 of 15
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.