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How much should I offer for PFD

Madyun1982
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
FireMedic1
Super 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?

Message 2 of 15
Madyun1982
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
FireMedic1
Super 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!

Message 4 of 15
Madyun1982
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
FireMedic1
Super 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

Message 6 of 15
spiritcraft1
Valued 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.


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Message 7 of 15
ImTheDevil
Community Leader
Super 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


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Message 8 of 15
Aspireto850
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
Madyun1982
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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