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LTD Financial Services and B of A

New Member

LTD Financial Services and B of A

I've been lurking these boards for a while and they have helped me understand my credit and scores.  I have a question... Recently my B of A account was turned over to LTD Financial Svcs for overdrawn which they had closed. I had sent them a PFD letter, I sent it certified.  2 weeks ago I recieved a letter from them stating they would like to offer me a settlement to help me resolve this account.  I have checked my credit report and it seems they having reported me yet (I thought they did).  

What should I do? I tried to call the bank and see if I could just pay them directly but they told me No.  I've read so many bad things about LTD so I'm a little confused on what to do.


Thanks in advance.

Message 1 of 3
Moderator Emeritus

Re: LTD Financial Services and B of A

See if you can do a modifed PFD with LTD in that if you pay them, they won't report.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 3
Valued Member

Re: LTD Financial Services and B of A

I too received a letter from LTD and BofA recently, same scenario.


I just spoke with a rep from there and she said they won't report to the credit bureau if I pay this week. She said I could go into the BofA branch and pay it in the next 7 days and it won't be turned over to a CA that will report on my credit report.


I am planning to go to BofA this week, pay off the account, keep the receipt and hope it doesn't ever show up on my reports. I asked for a PFD but she said no because they don't report! I'm like scratching my head right now. I guess I need to do more research. How did it go for you?

Starting Score: 600
Current Score: 663
Goal Score: 720

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Message 3 of 3