PFD Example Letter

[llecs]

HSBC will still own it if they report a balance, the CA doesn't report, and HSBC says "yes" when asked if they still own the debt. Again, frontline CSRs will always tell you to call the CA. Another indicator is if the CA tells you to write the check in the name of the OC. Also, if you mail a PFD to HSBC, they will tell you if the acct is sold when responding to your PFD. If HSBC lowered the balance by $100, then HSBC still owns the debt (because they got your payment).

The CA can't sue if they don't own the debt. HSBC can sue if they do own the debt. They can sue any time. If the CA owns the debt, they can sue any time.

[Anonymous]

Well im not sure if that happen, becuase i didnt pay HSBC that $100... i was talking to the CA, and they took payment over the phone !! 

 

 

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@llecs wrote:
HSBC will still own it if they report a balance, the CA doesn't report, and HSBC says "yes" when asked if they still own the debt. Again, frontline CSRs will always tell you to call the CA. Another indicator is if the CA tells you to write the check in the name of the OC. Also, if you mail a PFD to HSBC, they will tell you if the acct is sold when responding to your PFD. If HSBC lowered the balance by $100, then HSBC still owns the debt (because they got your payment).

The CA can't sue if they don't own the debt. HSBC can sue if they do own the debt. They can sue any time. If the CA owns the debt, they can sue any time.

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[llecs]

Perhaps I misunderstood....

In a previous post you mentioned, "Is it bad that i paid them $100.. it did come off my balance though !!!" Whose balance did it come off of?

To recap, is the OC reporting? Is the CA reporting? If the OC is reporting, did you see a $100 change in balance? I know that you paid the CA the $100.

[Anonymous]

I belive the OC (HSBC) is reporting because thats whats showing on my credit report of $2700..

from my CR 

Hsbc Retail Services XXXXXXXXXXX 7/2006 $2,700 Charged off as bad debt

I paided the $100 to my CA yesterday and they said now my balance is $2600

Message Edited by CaMs on 06-30-2009 02:31 PM

Message Edited by CaMs on 06-30-2009 02:32 PM

[Anonymous]

The method (accord and satisfaction) described by txjohn worked for me (DV & PFD failed)

I taped a check on an A4 and printed the text in red using Word. After several cycles of trial and error managed to  print it out right.

The CA accepted the terms and cashed the check

Thanks txjohn! 

[Anonymous]

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@Anonymous wrote:

The method (accord and satisfaction) described by txjohn worked for me (DV & PFD failed)

I taped a check on an A4 and printed the text in red using Word. After several cycles of trial and error managed to  print it out right.

The CA accepted the terms and cashed the check

Thanks txjohn! 

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Congrats quadratic!  I'm glad you had success.

I have found that some CA's won't "make a deal" the traditional PFD method.  However, if presented with the payment in hand, all terms laid out, they will often take the deal. 

[Anonymous]

hi

here is an example of a PFD letter

http://ficoforums.myfico.com/fico/board/message?message.uid=4519#U4519

[Anonymous]

Thank you so much, Tuscani,

I have been looking for something like this, and coming from FICO, I know it's legitimate. 

I do have a question... I have a couple medical bills that went to one collection agency, then another, so each bill shows up three times. I'm guessing that I could only send the letter to one currently holding the debt. That way, however, it would delete one item, but leave the other two. Is there anything I would be able to do for those?

Thanks again,

Kakini

[Anonymous]

Guess I jumped the gun; just checked my CR and the CA has updated the status to "paid"

Obviously in blatent violation of the accord and satisfaction agreement since they cashed my check.

Anyone have a  draft of a letter I can send the CA to force them to remove the CR records ASAP to avoid litigation?

Thx!

[Anonymous]

I drafted the following. Any feedback would be highly appreciated

Thanks!

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Dear Sir/Madam,

By cashing the check which I mailed you on zzz, you agreed to the legally binding terms and conditions of endorsement which were clearly printed on the back of the check. The said endorsement was also provided in a memo enclosed with the check. I have attached a copy of the cashed check as well as the endorsement for your review.

It was clearly stipulated that by depositing the check “It is agreed that all credit bureau reporting for Account Number zzzwill be deleted by zzz within 14 days of deposit.”

zzz cashed the endorsed check on zzz. (See attachment)

I obtained my Experian credit report yesterday and I see that you have updated the status to “Paid” in blatant violation of our contract.

Remove ALL credit report entries referring to this account within the next 10 days or I will sue for breach of contract. Furthermore, let me point out that I will be involved in several monetary transactions within the next month upon which your failure to comply with said contract (deletion of negative records on all my credit reports) could have a detrimental effect. Let me assure you that I will seek compensation for any losses I will have to endure due to your unfulfilled obligation.

Message Edited by quadratic on 07-29-2009 09:03 PM