PFD Example Letter

[Anonymous]

I am writing PFD letters to Alliance One in Seattle. They have 8 different collection accounts on my credit report. I'm not sure whether I should write one letter with regard to all the accounts, or 8 different letters. Any advice is appreciated!

[Anonymous]

I am planning on sending PFD to all of my accounts that have been validated.

Any advice? They are...

OC/CA

CHASE CC/UNIFUND CO 

CITIFINANCIAL/CAVALRY PORTFOLIO SERVIC

HSBC/LVNVFUNDG

[Rmarte86]

Does this work if I have an account that is 120 days past due and just want to delete the bad history on my account in exchange for full payment of debt? I owe $1,020 to Bank Of America and the account is closed. If I do pay it off in full, will they delete the bad history on my credit or will my whole history be deleted? It is a closed account, which I closed about 5 months ago. I will also like to know if I will be able to reopen an account with them in the future?

[Anonymous]

Tuscani, If you have a credit card with lates on it, can you offer to pay the balance in full for deletion? Is this the way to go? I am thinking of doing this for an account I have that is in a dmp.

[BGMWPD320]

Do PFD letters usually get a quicker response than a GW letter?  How quickly has everyone that sent a PFD letter got a response?  I have one collection on my CR that I am hopping will be removed with PFD.

[Anonymous]

Ok, I have been reading the threads but it seems like the more I try to figure this stuff out the more confused I am.  Someone please help!  While in school I had one credit card with capital one that had a 600.00 limit.  I was not working while my mom was in the hospital and let the card go.  This is the only big red mark on my credit report.  When I look at my report it says that I do not have anything in collections, and it is listed as still being a capital one account bad debt/collections from last activity April 2005.  At that time I had not been paying but after it was sent to Northland group who I am now paying it says payed as agreed.  The problem is that it is now about 1100 and I pay on it every month a little but the amount is not really decreasing.  It is still listed on my report as the capital one account though and says nothing about northland group even though this is who is doing the reporting on it.  I feel like I am in a never ending cycle though and just throwing away money because say I pay 50 dollars, the amount only goes down about 10 dollars.  So I want to know if this is when I would use the Pay for Delete letter?  If so, do I send it to northland group or capital one?  Can I offer to only pay the 600 or should I offer to pay more?  Northland group also sends me offer every so often offering to settle the debt and close the account by making two or three payments usually coming to around 800 dollars.  Would it fix things for me to do it this way?  Or will it still look bad and the only way to fix it is to get the PFD?  I also have read on other posts that northland says they will delete accounts and then does not so I am weary of this but willing to give it a try if yall advise.  Also, do I have to send a check with the letter?  I dont have the money just sitting around all of the time and do not want to send a check and then out of the blue 2 months later it is cashed with no warning.  I hope I have not confused myself or anyone else more, can someone please help!  Thanks!

[Anonymous]

I just contacted a few creditors about paying them the debt that they say is owed. I told them I would pay it in full in the next few days. Right after those calls I stumbled upon this thread and was wondering since I already told them I was going to pay do you think it is to late to send them a PFD to try to have it removed from my credit when I pay the bill in full.

Any help would be appreciated.

Thanks in advance.

Message Edited by Maro99 on 07-08-2008 01:55 PM

[Anonymous]

Hi Mandya22,

I'm new to these GW/PFD letters, but I'll try to give you an answer based on my understanding. It sounds like the negative mark on your report is from Capital One, and not from Northland Group who now hold your debt. The Capital One collection will remain on your report as bad debt, and might also say closed since they've reassigned the debt elsewhere and now have nothing to do with it. If Northland Group now holds your debt, I don't think a PFD letter will work with them because they don't actually have a collection mark on your credit report to delete.

My suggestion would be to accept a settlement with Northland to close the account and save you money over the long run. You don't want to just stop paying it, because then that will probably also end up on your credit report. When you pay the settlement with them, send a cashier's check and send it by certified mail. That way you'll already have the funds taken out of your account at a time when you're prepared for it instead of them cashing a check months down the line, and they won't have your banks routing information from your personal check to possibly take even more out of your account (and trust me, the collection companies are that shady). Send it certified because the cashier's check is a lot like sending cash and you don't want anyone to be able to say it got lost or didn't get to them.

Then, send Capital One a letter asking for a Good Will Adjustment to your credit report. Explain your situation nicely and sincerely, and perhaps even mention that you've now paid off the debt that went to collections. Include any reciept from Northland Group, or a copy of the cashier's check as proof. I recently sent out several GW letters and a couple PFD letters. So far I've only heard back from the first GW letter I sent, but it worked and they agreed to delete two accounts from the credit bureaus! So it's all worth a try, and from what I hear keep being persistent if you don't initally get what you want.

Here's a link to the forum covering GW letters....

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2661

Good luck!

[Anonymous]

Tuscani: Thank you for the posts for newbies-- super helpful. I would like to send a PTD letter to a collection agency. I reviewed your sample and notice that it is for disputed debt. Can I use a modified letter (that does not deny the debt and explicitly asks for a PTD) for undisputed debt, or should I just pay debt to CA and later use a GW letter?

[Anonymous]

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@MsKitty wrote:

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I CMRRR'd a goodwill letter asking that the account be removed from my file since they have been paid.  I rec'd the green card and am waiting for a reponse.  The account has been paid and I was wondering if this letter will work for me or shoud I keep trying to send GW letters asking for the lates to be removed?  I sent the GW to the general address, no one in particular.  Is there anyone that I should try to sent it to if I do not receive a positive response?  All of these lates are having a neg. impact on my scores.  Any suggestions?

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Basic question: is it good to CMRRR a GW letter? You don't have rights via the GW letter so I wonder if CMRRR'ing it sets a "formal" or aggressive tone than just a nice friendly letter dropped in the mail.

Message Edited by sfoclt on 08-03-2008 06:55 PM