Which collections should I pay first?

[Anonymous]

So I have 5 CO's.  Which Collections should I pay first?  I have $1300 from a tax return check and $500 from another check so $1800 in total that I can use to pay debt collections.  Is anyone familiar with these collection agencies and successful with PFD? 

MIDLAND FUNDING LLC                Credit One is the OC

Reported: Mar. 06, 2020                Jan. 27, 2016 (4 yrs, 1 mo)

$604.00

JEFFERSON CAPITAL SYSTEM    Fingerhut Is the OC

Reported: Mar. 02, 2020                 Jul. 14, 2016 (3 yrs, 7 mos)

$382.00

PORTFOLIO RECOVERY                 Capital One Is the OC

Reported: Feb. 27, 2020                 Jun. 21, 2017 (2 yrs, 8 mos)

$322.00

LVNV FUNDING LLC                           Capital One is the OC

Reported: Feb. 04, 2020                   Jul. 25, 2017 (2 yrs, 7 mos)

$522.00

MATTSON INVESTIGATIONS                    Local Telephone company is the OC 

Reported: Sep. 20, 2019                            Mar. 02, 2016 (4 yrs)   

$531.00 

With my experience in the past, most creditors I've talked to were telling me that they were legally obligated to report late payments and the Pay for deletion were not legal?  My goal is to get the collections PFD. Any suggestions on settlement for less than owed?  How does that look to creditors?  I am rebuilding and would like to get my foot in the door with Discover It Secured Card, Citibank Secured Card and Capital One Secured Card for my rebuilding.   Should I PIF?  Any suggestions would be greatly appreciated.  

[AllZero]

PRA does PFD. It states it on their website. https://www.portfoliorecovery.com/prapay/help/faqs?td

[AllZero]

Midland does PFD. It states it on their website. https://www.midlandfunding.com/faqs

[Anonymous]

Thanks a lot for that information good to know.  

[AllZero]

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@Anonymous wrote:

Thanks a lot for that information good to know.  

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You're welcome. Hopefully, more experienced members can address the other collection agencies.

[Anonymous]

Jefferson capital Systems-

Our policy is that we will request the credit bureaus delete the tradeline approximately 30 days after the final payment has been posted that resolves the account as paid in full or paid in full for less than the full balance.

My next question is, if they do a request a PFD in both cases, would it really matter if I PIF or PAID LESS than agreed if they delete the account completly know one would know if it was PIF or Less than Owed.  I'm almost tempted to settle for less and just have them delete it completely.  Does that logic make sense (cents)?  

[AllZero]

I don't recollect exactly. However, I do recall reading if the account is 2 years or older, then settle for less is possible, depending on the collection agency. You might want to double check or wait for other member feedback.

[wa3more]

These are debt buyers and paid maybe 5 cents on the dollar so make a low offer. Ask them what they would take then offer lower. 

[alipz]

I just dealt with Portfolio. My collections were a little older than yours but I was able to settle each of my 3 accounts for 30% of what I owed. They emailed the settlement offer and statement the trade lines would be deleted while I was on the phone with them. 

I know some have said not to give them your account info, but I paid them with my checking account after I received the letters. The debits from my account were what I agreed too. 

I have 2 with Midland, they agreed to 50% off one, and not budging on the other. So I haven't  resolved them yet. 

I haven't  dealt with the other collection agencies. 

Good Luck! 

[Anonymous]

Thanks for all the Information.  So I'm feeling good about this, I should be able to save some money atleast with 3 of the accounts settling for less as they will delete the collection completely.  I feel confident.