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PFD Request

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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Regular Contributor

PFD Request

Hello All,

 

I am in the process of rebuilding my credit and have already sent out my first way of Goodwill letters. I am now focusing on a few collections/chargoffs that are on my credit reports. I have ready the PFD post and have crafted my letter to send to the CO's. My question is this, in all of the letter examples it states "I am willing to pay this account IN FULL" however I would first like to see if they are willing to agree to a settlement offer first of maybe 50%. How should I go about asking this in the letter instead of say I am willing to pay the account in full?

 

 

Thanks in advance...

03/19/19
Experian: 571 | Equifax: 563 | TransUnion: 563

04/06/19
Experian: 591 | Equifax: 566 | TransUnion: 577
Message 1 of 3
2 REPLIES 2
Moderator

Re: PFD Request

I would just substitute that sentence with your offer. Keep it simple... "I am offering xxxx amount to settle this" Good rule of thumb to start is if its still inside SOL 75% outside SOL 40-50%

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 2 of 3
Regular Contributor

Re: PFD Request

Thank you, very much appreciated!

03/19/19
Experian: 571 | Equifax: 563 | TransUnion: 563

04/06/19
Experian: 591 | Equifax: 566 | TransUnion: 577
Message 3 of 3