Step-by-Step Process for PFD?

[TheMedici]

Hi - I have a couple collection accounts. How do I go about doing a PFD? Do I just call the collection agency or do I mail them a letter? Do I need to have a written assurance for this? New to this process and trying to buy my first home. Thanks for any help!

[FireMedic1]

Welcome @TheMedici 

Need to know who are the CA's first. Some PFD. You wont get any letters for PFD. CA's have contracts to report accurate info to the CRA's. They wont have them used against them.

[TheMedici]

Hi @FireMedic1 ! 

Thanks for replying back. The CAs are LVNV Funding LLC, and NCB Management. So the best route to do a PFD would be to call them? 

[under600]

I just recently did 2 PFD with LVNV never talked to anyone. Did it all online and they removed it automatically. Unlike the PFD I did with PRA LVNV did not report 0 than delete 30 days later they just removed it in about 10 days from payment. 

[TheMedici]

@under600 Thanks! That's helpful. This is all new to me. Appreciate the insight. 

[OmarGB9]

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@TheMedici wrote:

Hi @FireMedic1 ! 

Thanks for replying back. The CAs are LVNV Funding LLC, and NCB Management. So the best route to do a PFD would be to call them? 

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I don't know about best, but it would definitely be the fastest. LVNV won't provide a letter, but they do automatically PFD anyway, as noted by the testimony above. Not sure about NCB though.