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PFD and other stuff

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Established Member

PFD and other stuff

Hey everyone. I will try to keep it short. All of my debt stems from moving overseas in fall 2014. I have Comcast, Directv, ATT, Sprint collections for a total 1403. I sent out PFD Friday. I have a repo from July 2014 that a company is willing to settle for 3K. Finally student loan for 4500 that I am starting to rehab and plan to pay off by February 2020. I plan to move back Sept 2020 and buy a house Sept 2021. A few Questions....

 

1. If the first round of PFD fail should i keep trying or just let it ride till they fall off? (mix of IC system, Enhanced, and Convergent)

2. The repo should I accept the offer or negotiate and try to get a PFD? i Understand I will get a 1099C to offset the difference. (Convergent has it)

3. Will the settlement re-age the debt? I thought it was based of DOFD and that can never change and the 7 years starts then The federal load I have to pay if I want a mortgage. Thanks for the help!!!

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Re: PFD and other stuff


@jeiowa01 wrote:

Hey everyone. I will try to keep it short. All of my debt stems from moving overseas in fall 2014. I have Comcast, Directv, ATT, Sprint collections for a total 1403. I sent out PFD Friday. I have a repo from July 2014 that a company is willing to settle for 3K. Finally student loan for 4500 that I am starting to rehab and plan to pay off by February 2020. I plan to move back Sept 2020 and buy a house Sept 2021. A few Questions....

 

1. If the first round of PFD fail should i keep trying or just let it ride till they fall off? (mix of IC system, Enhanced, and Convergent) Depends on whether or not you will be apping for credit before they drop. I might try a couple of times and if they wont do it then settle to stop the monthly updating .

2. The repo should I accept the offer or negotiate and try to get a PFD? i Understand I will get a 1099C to offset the difference. (Convergent has it) I would ask them if they would do PFD but would not let it stand in the way of the settlement.

3. Will the settlement re-age the debt? I thought it was based of DOFD and that can never change and the 7 years starts then The federal load I have to pay if I want a mortgage. No, re-ageing is illegal the DoFD cannot change. If you rehab the SL and its in good standing at time of mortgage app then its not going to be a problem but it looks like you will knock it all out prior based on what you say here.

 

Thanks for the help!!!


 

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