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How much should I offer for PFD

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Contributor

How much should I offer for PFD

Good morning everyone.
I posted here a few days ago about assisting my mom with her credit rebuild.
She has a account with Midland funding. And I know they do PFD.. However I'm trying to figure out how much should I offer for a $811.00 collection?
Thanks in advance
Message 1 of 15
14 REPLIES 14
Senior Contributor

Re: How much should I offer for PFD

Depends how old it is to work in your favor. The older the best chance of a lesser amount. How old is it?





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 15
Contributor

Re: How much should I offer for PFD

I have the amount wrong it's for $811.. And it was placed for collections Oct 2017
Message 3 of 15
Senior Contributor

Re: How much should I offer for PFD

Its always better to have the account on your report say PIF rather than settled for less than amount owed. But if the full amount isn't available to PIF. Start in the middle and see how they react. Good Luck!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 15
Contributor

Re: How much should I offer for PFD

Thank you..
They did a PFD before.. So I'm hoping they'll do it again this time around. I rather have it off her report completely! Because I'm not sure if it'll still show the late payments etc.
Message 5 of 15
Senior Contributor

Re: How much should I offer for PFD

Oops. Had a @ImTheDevil brain fart. (Inside joke) Yes they do PFD. Forget what I said earlier about what the report will say. It will be deleted. Duh.............Smiley Embarassed





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 15
Established Contributor

Re: How much should I offer for PFD


@Madyun1982 wrote:
Good morning everyone.
I posted here a few days ago about assisting my mom with her credit rebuild.
She has a account with Midland funding. And I know they do PFD.. However I'm trying to figure out how much should I offer for a $811.00 collection?
Thanks in advance

Is the date of first delinquincy on the original debt within SOL?  You would, of corse, have more leverage then!  And, the older the better.


Rebuilding from a sudden, swift and complete credit disaster in early 2014 | Starting Scores 2017 = Very Low 400's
8-1-18 -
12-24-18 -
11-1-19 -

Biz Credit in Order of Approval - Uline, Quill, Grainger, SupplyWorks, MSC, Amsterdam, FuelMan .8K, Citi Tractor Supply Rev .8k, Builder Pro 5.4K, Amazon Net 55 $5.5k, NewEgg Net 30 10k, Richelieu 2k, Wurth Supply 2k, Global Ind 2k, Sam's Club Store 11.k, Shell Fleet 19.5k, Citi Exxon 2.5k, Dell Biz Revolving $15k - All No PG
Message 7 of 15
Community Leader
Senior Contributor

Re: How much should I offer for PFD

Lol @FireMedic1 - it’s contagious isn’t it? Sucks being old!

OP, start at around 40% and negotiate from there. If you’re out of the SOL they may take it if you’re firm. If not, be prepared to negotiate. When I dealt with them they were forthcoming and easy to work with. Hopefully they are with you too Smiley Happy


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 8 of 15
Established Contributor

Re: How much should I offer for PFD

@Madyun1982,

If you go to midlandcredit.com and enter basic info it will let you know if Midland has any accounts with them. When you click on that account it will show settlement offer, if applicable. You usually get a better payoff ( 40% reduction) if done in one payment but can make multiple payments. Once you see your settlement offer it could give you some bargaining power when contacting them and trying to get a better offer. Good luck








Message 9 of 15
Contributor

Re: How much should I offer for PFD

Thank you so much.. I'm gonna call them in the am.. And see what I can negotiate!
I looked online and saw what they were willing to settle for.. But I didn't want to settle for more than 500.. Lol
Wish me luck!
Message 10 of 15
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