Sent PFD, Got response back requesting pay in full.

[musikklvr]

Hi all,

I wanted to know what's the best way to handle this.

I sent a PFD to pay $500 to Midland Credit Mgmt last month.

I just received a response back stating they want payment in full for a "paid" status on my CR's, which according to them is $1147.82.

DOLA was 11/2002 according to my credit reports so it's due to come off this Nov.

According to the validation they sent to me, which were several statements, the last statement shows balance of $322.47.However, the cover letter they sent says I owe $1147.82 which I'm assuming are all of their fees.

What should I do now? Should I send another PFD stating the last statement shows I owe 322.47 and I will pay 500 for delete? 

I appreciate all comments.

Thanks a lot.

[nothingman02]

I think you should send another DV. PFD would likely fetch you the same response. Or none.

Send them another DV with their validation detailing the last balance with OC enclosed with it and ask for an explanation. Look up if your current State of residence or the the State where you got the CC from permit addition of interest .FDCPA does mention something to the effect that the CAs cant charge any interest unless permitted by the state. For instance my current state of residence (AL permits 6% to be accrued). Regarding other fees, again, not sure if the CA is allowed to charge you for 'debt collection'. I am still trying to ascertain what are the charges, other than the interest, that are typically permitted. 

[Anonymous]

Is this beyond SOL?

Midland is not known to have ever accepted a PFD.

[nothingman02]

I forgot to ask you. Have you disputed with the CRAs - (Not the account but just the balance.) Since you only owe 300+ dollars and they are charging almost 4 times as much, I would be wondering what charges other than the state permitted interest has been piled onto it.

If you have disputed with the CRAs and the balance has come back as verified, then I think you should DV them and ask for an explanation of the balance especially since they have verified the balance to the CRAs as accurate. You could include a copy of the cerfication which the CRAs provide you.

Of course everything changes if the SOL has passed without tolling.

Message Edited by nothingman02 on 03-29-2009 08:03 PM

[krielly]

Maybe I'm missing something here, but I'm wondering why you would be willing to PFD an account which will come off your report in about 6 mos anyhow....??

K

[musikklvr]

Hi all,

Thanks for your responses.

It will be 7 years in November. The reason I PFD's is because I'm trying to buy a house and this will be the only way to raise my scores since there is nothing else on my end to do to raise my scores. Also, they just started reporting in February again which isn't helping my scores.

I don't want to dispute totals because I'm trying to buy a house and I have other disputes that I have to get taken off before I can get a loan.

I just wanted it off my credit report so my scores can increase and I can get my house.