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Portfolio Recovery says they now do PFD!!! Is this possible?

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New Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Holy shoot this is huge. Has anyone had any luck settling? I have a significant debt to them that I would be willing to settle especially if it will get deleted. I’d have the funds in the next month so I want to start the process if so!

Any specific letter you all are using or is this all via phone?
Message 41 of 66
New Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I had a debt with them for 417. I offered 200. They counter offered with 220. I paid it the end of February. Took 13 days to finalize. It then updated on credit report as paid in full less than full amount. Hasn’t come off yet but I can take a month according to these forums.
December 2018






As of 3/25/2019




Message 42 of 66
Established Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

They remove it 30 days after payment even if you settle for less. Its automatic.






Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


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Message 43 of 66
Frequent Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I settled for 40% but it took a few calls. If I recall correclty, it wasn't until the third call that they finally accepted/relented. My spiel was as follows:

  • The SOL has expired and you have no recourse
  • It will fall off from my credit report in a year and I am content to wait it out if need be
  • $400 is better than $0
  • I'm not hiding. You have my number and I always answer my phone. If you change your mind, call me

Always be polite but firm. Also, bear in mind the first person you speak with (on each call) is likely a lower level rep and, therefore, unlikely to have the aurthority to negotiate much. However, they can and will escalate to someone who does. In my case the frontline rep escalated to an Operations Manager but then needed a VP to sign off on the 40%.

 

Lastly, I'm speculating but I think end of the month is a great time because they are probably trying to make bonus. So, if possible, I recommend you make an aggressive offer on March 29th! Good luck!

 


Message 44 of 66
Valued Member

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

If anyone is watching this thread, after a month of various status changes, this finally totally dropped off EX this morning. Hope the other two follow this week so it’s totally gone. It’s been listing as paid and close for two weeks. Just FYI.
Message 45 of 66
Frequent Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Congrats!


Message 46 of 66
Established Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I did a PFD for EOS and it updated in a week. They also told me 30 days. Who knows. YMMV
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


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Message 47 of 66
Established Member

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

They dropped off my EXP this morning. Hoping they drop off of the other two tomorrow.

Message 48 of 66
Valued Member

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

Transunion just reported it dropped for me, fantastic !
Message 49 of 66
Established Contributor

Re: Portfolio Recovery says they now do PFD!!! Is this possible?

I’m just waiting for it to drop off equifax. Smiley Happy





Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


Take the myFICO Fitness Challenge




Message 50 of 66