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Should I just PIF?

Should I just PIF?

Hey everyone,

Longtime lurker on the forums. I have 4 collection accounts thats hurting my score.

1. Portfolio - $2005
2. NTL Credit MGMT - $960
3. Second Round - $866
4. The Bureaus - $833

I have no issue PIF for the smaller amounts, but should I negotiate the larger amount? All collection accounts but one was opened in 2019, and #4 was opened in 2018.
Message 1 of 5
4 REPLIES 4
FireMedic1
Super Contributor

Re: Should I just PIF?

Welcome @fixingmycreditnow718  Out of the 4 listed. Portfolio will delete their collections off your reports if settled or PIF. The other 3 I've not heard of. As they say go big. You can call and set up a payment plan and get that sucker off your reports. Then go after the other 3. None of them are that old to get a great PIF % less than what they listed.





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 2 of 5

Re: Should I just PIF?

Thanks, Fire (:

I called The Bureaus and I was able to set up a payment plan for $200 per week to PIF. They also delete after the last payment.

Second Round bought my Comenity Bank Victoria’s Secret account.
I will call and set up payment for them tomorrow! I might split this into 6 weekly payments. Looking forward to rebuilding and I am grateful for this forum.

ETA: Portfolio offered me to pay $1300 of the balance earlier today, but I wanted to settle for less than that. I spoke to a rep via chat and they said to call for further help. I’ll give them a call once my smaller balances are paid off.
Message 3 of 5
crazedforcredit
Established Contributor

Re: Should I just PIF?

I'm in the process of paying off Portfolio now. I make my final payment (!!) to them this month. They are easy to work with to a certain extent. I wouldn't hope for too much lower than the offer they gave you though if they just got your account this year. It will also depend on your DoFD as well. If you're still within the SOL that's about as good as your going to get. Mine was still within the SOL, so I opted to PIF just to ensure that the debt won't reappear after I'm through paying it. But maybe you will have good luck and a better offer from them. Best of luck, and congrats on tackling your credit head on. You will be glad you did it!
Starting rebuild July 2019 EX 501, EQ 512, TU n/a CCT Fico 8 scores
Message 4 of 5
FireMedic1
Super Contributor

Re: Should I just PIF?


@fixingmycreditnow718 wrote:
Thanks, Fire (:

I called The Bureaus and I was able to set up a payment plan for $200 per week to PIF. They also delete after the last payment.

Second Round bought my Comenity Bank Victoria’s Secret account.
I will call and set up payment for them tomorrow! I might split this into 6 weekly payments. Looking forward to rebuilding and I am grateful for this forum.

ETA: Portfolio offered me to pay $1300 of the balance earlier today, but I wanted to settle for less than that. I spoke to a rep via chat and they said to call for further help. I’ll give them a call once my smaller balances are paid off.

Excellent on 2 PFD's so far. Keep at it and once the stubborn ones are paid. It looks a whole lot better than owed. Good Luck on the others. llep us updated. Thats a new one on The Bureaus that I can remember. That will help others!





Homeowner since Sept 2020. My posts are JMHO. My siggy is not to brag. Just sharing my experiences after BK from learning here from rebuild to recovery from the @ 540's.
Message 5 of 5
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