cancel
Showing results for 
Search instead for 
Did you mean: 

Rebuilding for the future! Looking for tips

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Highlighted
Regular Contributor

Rebuilding for the future! Looking for tips

Hey Folks, My credit went up again last night to 557. I know thats not much but to be fair it was about 50 points lower recently. With that being said I am going to use my jobs bonus money to pay some things off of my credit, I just wanted to know if I should pay these collections and if a PFD will work.

 

1. DIVERSIFIED CONSULTANT - Sprint - Open Date: Feb 2015 - Balance: Roughly 1300

    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 

 

2. ENHANCED RECOVERY CO L - AT&T - Open Date: Nov 2016 - Balance: 1,107

    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
3.  EOS CCA - Verizon - 267 dollars - Open Date: Jan 2018
    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
4. LVNV FUNDING LLC - WEBBANK FINGERHUT FRESHSTART - Open Date: Jan 2016 - Balance: 153
    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
5. PORTFOLIO RECOV ASSOC - Capital one - Open date:  8/14 - Balance: 788
Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
I would love to pay off about 1-2 thousand dollars first, and the rest in a few months. With that being said would any of these companies do a PFD? I know situations are different but are any known for PFDs or perhaps reaching out to the original company for them to retract the debt? 
 
I currently have self lender, A secured CC through PNC for 500 and a secured user on another CC. Would it be advised for me to get another card? Or another service like self lender? I am fine with doing either just not sure if this would be beneficial?
 
- Credit usage 14percent, Experian states I have a thin account because only three things open. Should I do more Secured CC?
 
 
Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
12 REPLIES 12
Highlighted
New Visitor

Re: Rebuilding for the future! Looking for tips

for a minute i thought you stole my identity! (just kidding, mine looks similar with the accounts) Following as I would like to know also.

Message 2 of 13
Highlighted
New Contributor

Re: Rebuilding for the future! Looking for tips

On a derrogatory account definitely try to do a pay for delete before paying the collection agency. Portfolio Recovery will do them. Search the rest of your derogs by name on this forum and see what's worked for others. 

 

I've had many collection accounts take a pfd and each time I see a significant increase in scores. 

 

Good luck!

Message 3 of 13
Highlighted
Frequent Contributor

Re: Rebuilding for the future! Looking for tips


@gooty1 wrote:

Hey Folks, My credit went up again last night to 557. I know thats not much but to be fair it was about 50 points lower recently. With that being said I am going to use my jobs bonus money to pay some things off of my credit, I just wanted to know if I should pay these collections and if a PFD will work.

 

1. DIVERSIFIED CONSULTANT - Sprint - Open Date: Feb 2015 - Balance: Roughly 1300

    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 

 

2. ENHANCED RECOVERY CO L - AT&T - Open Date: Nov 2016 - Balance: 1,107

    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
3.  EOS CCA - Verizon - 267 dollars - Open Date: Jan 2018
    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
4. LVNV FUNDING LLC - WEBBANK FINGERHUT FRESHSTART - Open Date: Jan 2016 - Balance: 153
    Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
5. PORTFOLIO RECOV ASSOC - Capital one - Open date:  8/14 - Balance: 788
Would it be advised to attempt to settle for a lesser amount and beg and plead for a PFD? Should i speak to the creditor or sprint directly? 
 
I would love to pay off about 1-2 thousand dollars first, and the rest in a few months. With that being said would any of these companies do a PFD? I know situations are different but are any known for PFDs or perhaps reaching out to the original company for them to retract the debt? 
 
I currently have self lender, A secured CC through PNC for 500 and a secured user on another CC. Would it be advised for me to get another card? Or another service like self lender? I am fine with doing either just not sure if this would be beneficial?
 
- Credit usage 14percent, Experian states I have a thin account because only three things open. Should I do more Secured CC?
 
 

PFD is a good route wherever you can make it happen. I like how you're taking charge of your situation and asking the right questions. I don't know your situation, but I do want to encourage you - with continued focus on the right things you will continue to see your scores increase.



Current Scores Jul 2019 – FICO 8
Message 4 of 13
Highlighted
Regular Contributor

Re: Rebuilding for the future! Looking for tips

Thank you everyone, So essentially when asking for the PFDs I should try the original account prior to trying the creditors for example call cap one instead of portfolio recovery?

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 5 of 13
Highlighted
Established Contributor

Re: Rebuilding for the future! Looking for tips

Nope pay for delete would be more for collection agencies which is portfolio in this case but good will would be for original creditor which is capital one.





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


Take the myFICO Fitness Challenge




Message 6 of 13
Highlighted
Regular Contributor

Re: Rebuilding for the future! Looking for tips

Cool, I am going to start reaching out on Monday. I plan on going for the cheaper ones at first Cap 1, Fingerhut, Verizon I would like to do all of them in one shot and pray they delete lol.


@simplegirl wrote:
Nope pay for delete would be more for collection agencies which is portfolio in this case but good will would be for original creditor which is capital one.

 

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 7 of 13
Highlighted
Regular Contributor

Re: Rebuilding for the future! Looking for tips

Would it be a good idea to open another CC? Or maybe another loan like self lender?


@gooty1 wrote:

Cool, I am going to start reaching out on Monday. I plan on going for the cheaper ones at first Cap 1, Fingerhut, Verizon I would like to do all of them in one shot and pray they delete lol.


@simplegirl wrote:
Nope pay for delete would be more for collection agencies which is portfolio in this case but good will would be for original creditor which is capital one.

 


 

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 8 of 13
Highlighted
Established Contributor

Re: Rebuilding for the future! Looking for tips

You never need multiple installment loans but after taking care of your debts another card would help maximize your score.





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


Take the myFICO Fitness Challenge




Message 9 of 13
Highlighted
Regular Contributor

Re: Rebuilding for the future! Looking for tips

Got ya, I will keep that in mind. Last question sorry for drilling you here, If they do not offer a PFD is there a point in paying them? In addition is it okay to do a settlement or should I be paying in full?


@simplegirl wrote:
You never need multiple installment loans but after taking care of your debts another card would help maximize your score.

 

Score as of 7/9/19
Fico 8
EXP 618
Score as of 1/6/20 Fico 8 EXP 655
Message 10 of 13
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.