Last derog

[Ramsport]

Hello,

I have one last derogatory remaining on my credit reports. It is for $557 held by portfolio recovery. It is 4 years old.

I know they pay for delete but do you think I could get them down to a lesser amount and still get a paid for delete.

[tparks5961]

I guess that's a question only you would know the answer to.

Is $557.00 worth having a clean slate? Or do you risk having a negative interaction with them and blowing it for 3 more years.

Anything is possible, but is it worth it for $557.00?

[Ramsport]

Extremely good point. I just don't have the 557 at the moment. I was hoping they might want to be done with this also.

Wishful thinking.

[OmarGB9]

You can try to negotiate a lower amount. You wouldn't hurt anything. Worst they can do is say no. It's a common misconception that engaging a CA and trying to negotiate would reset the 7 year exclusion period. It wouldn't. Now the SOL (Statute of Limitations) for being sued could *potentially* be reset, depending on your state's laws.

[Ramsport]

In California that's exactly what can happen. If I even broached the subject of asking for pay for delete it could potentially reset the clock for them to sue.

So how do people negotiate pay for delete.

[OmarGB9]

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@Ramsport wrote:

In California that's exactly what can happen. If I even broached the subject of asking for pay for delete it could potentially reset the clock for them to sue.

So how do people negotiate pay for delete.

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Well, it'd probably be best if you could have the full amount on hand in case they reject whatever you offer. Otherwise, they do offer payment plans and yes you'd still get the PFD.

[tnhomestead]

PRA has a stated policy of not resetting the SOL no matter what. Call them and offer, worst they can do is say no. Offer 50% see what they say.

[Ramsport]

Thank you to all who replied. 

I just checked they actually have it on their website that they'll delete.

Any suggestions on amount to start with.

[danny2021]

They may already have an offer out to you.  Log into your account online. If an offer is available, you'll see it there.

[Ramsport]

I didn't know that thank you.