PFD Example Letter

[Anonymous]

First off, thanks to everyone for all the advice.  This had made this process significantly less painfull then if I was on my own.  I contacted the OC and they said they would accept payment and pull the collection account back from the CA.  To close the loop, I plan on submitting a DV to the CA as soon as the transaction to the OC clears.  My hopefully final question is whether this is necessary, or by paying this does it go away on its own?

Thanks again.

[Anonymous]

Part 1 

Sup guys Newbie here in only 30 minutes I had read all the 30 pages of this forum and let me tell you !!! You guys rock!!!! 

Now this is my dilemma  I got a Charge off account of $495 dollars for a credit card that I opened in 2004 when I was in college but it went on collection on 2006 or 2007 don't remember exactly the year, my credit reports says that I owe the money to the bank because the bank is the business that is reporting the debt to the CB but when I called the bank they told me that they pass the debt to a CA DPL Associates Ltd to be exact and they told me that I need to contact them to negotiate any deal because they can't do anything...  I had contacted DPL on May 2009 to tell them that I want to pay the amount of $495 in full if they report to the CB as PAID IN FULL they told me that I owe $819 that like the double of the amount that is report it in the CB and that they don't report to the CB that the banks does, so the only thing that they can do is send a letter to the bank "that they wont even give me a copy"  and hoping for the bank to posted like PAID IN FULL this is driving me insane. Well I tell them I will send you the payment anyway because I want to get rid off that debt but I got a car accident and I couldn't pay the amount so I never call them back again. 

Now I'm trying to buy a house and I applied for a pre-approval the bank that I was applying pull my credit report today and told me that I got  637-654-611 and the reason why is low is because a charge off account of $495 dollars that I owe to another bank. My loan officer told me that we could fix this if I pay that amount and tell the bank to delete that trade line off my credit report so I could apply for a SONYMA loan... "now I'm frustrating and mad"

[Anonymous]

Part 2

-- Now since I found this forum is really helpful know that they were lying to me even I'm a little confused because the CB says the bank name and not the CA name.

I called the CA and they were close so I send a similiar letter like the onein this forum that i found on google will post the letter in anoter post since i exceed the 20,000 character of the forum.: 

is this letter good? or  should i send the other one that I saw in this forum?????

Is the CA reporting to the credit report or the Bank??? 

Should I contact the bank again and tell them that I don't want to deal with the CA since they were a bitch or what should I do? 

what can I tell the CA so they could remove this TL out of my credit report so my score could jump up to get approve for a SONYMA loan or waht can i tell the bank ??? 

should i send the PFD letter to the bank??? 

I need help please since I'm fustrating and really mad.. 

any suggestion is really appreciated.

[Anonymous]

sorry guys for some reason i cant attach the letter...

Message Edited by ricardomreyes on 02-19-2010 05:50 PM

[Anonymous]

You'd need to copy and paste your letter and you want to send it to whoever is reporting, in your case the bank. If the CA isn't reporting, they can't delete.

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@Anonymous wrote:
sorry guys for some reason i cant attach the letter...

Message Edited by ricardomreyes on 02-19-2010 05:50 PM

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[Anonymous]

Thanks Mike,

 but what is the amount that i have to pay the amount of the CA or the amount that is reported in the CR.??? 

[Anonymous]

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@Anonymous wrote:

Thanks Mike,

 but what is the amount that i have to pay the amount of the CA or the amount that is reported in the CR.??? 

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I'd first send them (the bank) the PFD letter and make them an offer. I forget when you said the chargeoff happened, but if the trade line is due to fall off your credit report soon, they may very well accept less than the full amount (the bank's amount; the CA's amount is likely inflated with interest and penalties and administrative and collections fees but since they are not reporting, who cares what the CA says?). Either way, remember that a paid chargeoff is no better from a FICO score perspective than an unpaid one (though it may make a difference for your mortgage application) so unless the bank agrees to delete, don't pay them anything!

[timmyc38]

this letter is perfect for the measley 50 bucks I owe some credit agency, for a BMG music club account, im sure I never joined ! thanks !

[Anonymous]

Hi Tuscani,

I sent the modified letter today via certified mail.  But I just read on page 5 or 6 on this thread that I should not have signed it.  Is that true???!!!!!  I hope not, because I did sign the letter..In my professional life, a letter isn't legit if it isn't signed.

on another note.....

Your GW sample has been removed.  I've PIF on one account and settled on 2 other accounts thinking that it would make a difference...that was before I learned of the PFD alternative.  Could you please provide another sample of that.  As your letters sound soooo legal and intimidating...i love it. 

Back to the settled accounts, should I go back and do a PFD for the remaining balance so that the accounts will be removed all together, because I believe they told me that it will not be removed.

[Anonymous]

I have 2 accounts with the same CA that I've been making payments on since 11/2009. I have it down to just under $50 left and was about to make that payment today before coming across the ability to use a PFD! How would I adjust the letter in my case, since I obviously do know that it's validated and I'm not disputing it in any way. I'm not sure if it's able to even be removed since they are actually reported from the police dept. for unpaid tickets.... any experience here? I'm planning to purchase a new (used) car soon and could really use the credit boost before applying with the credit union!

Any help would be greatly appreciated!

Message Edited by Candikanez on 02-23-2010 10:19 AM