PFD question

[Anonymous]

So... I filed BK in 10/10 - now I am pouring over my credit reports trying to rehab my 577 FICO score.

Most of my 23 baddies are set to fall off in 2015.

Would it be worth PFDing them even though I filed CH 7 bk and I am not legally obligated to do so?  

I wish I had found this sight before I filed BK - I may have been able to help my own credit by GWing and PFDing and not be stuck with a 10 year baddy on my records.

Thoughts, comments?

[llecs]

You can try but the balances owed should be $0, right? If that's the case, then consider GWing instead.

[RobertEG]

Interesting question.  If the debt was discharged under the BK, then yes, the current balance owed as shown in your CR should have been updated to $0.

So, legally, you dont have a legally actionable debt.  But the fact of prior debt occurance does not magically go away.  Thus, the reason why it is still in your CR.

I see nothing contradictory or improper in offering them $$ that is not legally due to them.  That is a private contract negotiation betwen you and the former creditor.

Getting $ that they no longer have the legal ability to collect in exchange for CR deletion would seem to me to be a very strong PFD offer. It costs them nothing other than possible variance from their normal "no deletion" policy.

I like your idea, if you are willing to pay for the play!

[Anonymous]

Thanks for answering...

Do you think any of these accounts (now reporting as BK) deleting the baddies will improve my score ?

I guess it doesn't hurt to try.

[RobertEG]

In my opinion, it would be dependent upon what other mutlitple or major derogs remain, should you secure this one deletion.

Would it move you from credit scoring with a so-called "dirty" credit history, which is generally multiple prior derogs, or remaining major derogs, into a "clean" bucket with no prior major derogs?

If this is jsut one removal of a derog with other majors remaining, then not much FICO improvement.

However, if the only remaining major derog, upon deletion, the FICO impact could be significant.