Hello all!
I'm new to the forum but have been on the outside looking in for a year now. I am in the process of getting my credit together and need some advice on how to handle some collections and late payments.
Current scores:
MyFICO 8: EQX - 530 TU - 577 EXP - 534
MyFICO 9: EQX - 484 TU - 498 EXP - 511
Collections:
BOA Credit Card - $888 (Still being reported by BOA every month) (scheduled to fall off in Feb/2022) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
Amazon/Synchrony(might have sold to Credit Corp Solutions) - $871.20(scheduled to fall off in 2026) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
Portfolio Recovery - $563 (Still being reported by PRA every month) (scheduled to fall off in Aug/2021) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
Portfolio Recovery - $1741(Still being reported by PRA every month) (scheduled to fall off in May/2021) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
**Also, I had 2 other collections with PRA that fell off my report. Do you think they will try to collect on those as well?**
Mobiloans LLC - $505 (Says debt was sold to a unknown collection agency) (Only showing on TU Report- scheduled to fall off 2026) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
Plain Green LLC - $1200 (Says debt was sold to a unknown collection agency) (Only showing on TU Report- scheduled to fall off 2026) Should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
NCB Management - $3977 (scheduled to fall off 2026) should I ask for a PFD, pay a 25% lump sum, or set up payment plan to pay off in full?
Late Pays: (Was unemployed during this time) (I am currently current on these cards)
CapOne (QuickSilverOne): 2019 - Apr. 30day; May 30day; Jun 60day (Good Will?)
Comenity(Playstation): 2019 - Feb. 30day; Mar 30day; Apr 60day; May 60day; Jun 60day (Good Will?)
Kohl's: 2019 - Apr 30day; May 30day (Good Will?)
In addition to these three cards I have: UTL is 92% (working on paying cards off)
Navy Cash CC, AMEX Delta Platinum, Discover (secured), Apple Barclay, Macy's, UFCU Visa
Authorized User:
Home Depot, Venture Card
Any advice you can give is appreciated.
Thanx
Yes I would try to PFD as many collections/COs as you can, though most won't do it, realistically. But it's worth a try. As far as PRA, they automatically PFD regardless of whether you settle or PIF. I would settle the two open collections. As for the two that fell off your reports, they may or may not come after you for them, but if they're outside the SOL, you can just use that as a defense and not have to pay them if they try to sue you.
Also, a lot of those collections on your report aren't scheduled to fall off for a while, so a 25% lump sum probably won't cut it. They'll probably ask for a lot more, like 70%+. Not trying to be a downer, just keeping it realistic. But by all means, start low and see what they counter with.
And yes, GW those lates on your open accounts to no end. You may just find someone compassionate enough to do something about it. It may take hundreds of letters though, but don't give up.
Good luck and welcome.
Here's the link for the GW Saturation Technique:
Good Luck!
Thank you for taking the time to assist. Do you recommend sending a certified letter for PFD/PIF or email. I don't trust calling because there is really no proof of what will be agreed on. They will tell you it is being recorded...but I dont trust it.
Thank You!