did some recon on my accounts

Anonymous · ‎09-14-2015

so after pulling my credit report yesterday and not being able to get the entire acocount numbers i call ea crediator and ask f or the account number, when they ask me my intention or this debt i simply say, my goal today is to simply obtain the account number nothing less nothing more, ea person i talked to seemed to be very helpfull, making sure to never admit to the debt, or say any intentions of paying i ask them about pay for delete, some said yes some said no, even had on place say fax me the letter ill sign it fax it back...

so here is what i found

AR Resources ( fax letter ill sign fax back ) owed $74.71, they also said i will receive a hard copy of the fax in the mail in 3-5 days. settled this one today was like thata was easy...

Enhanced recovery ( will not pfd they told me ) they will update credit report as paid in full..

here's the weird part i have 4 accounts showing

1- tmobile, no idea how or why been a customer for 10 yrs still a customer, never missed bill (drops 5/2018)

2- att (drops 12/2019)

3- comcast $175.77 ( drops 12/2020)

4 - comcast $906 ( drops 4/2020), but heres the strang part enhanced recovery says they can not find the account in their system, yet my credit report shows them as the collection agency, do i dispute. PFD, ?

Central Finiance ( hospital bill ) ( drops 6/2019) will PFD

First Premier ( drops 9/2019) $432 counldnt userstand a word they said, i could barely understand enough to get my account number, does anyone know about PFD with them.

montgomery ward ( drops 5/2021) might dispute this one dont remember and account with them what so ever...

so i guess my question is this, my collections is a very low dollar amount, so how long should i send PFD letters, vs just paying it off, again im looking to buy a house next yr and what to take the proper steps to rebuild, so am i better getting them paid in full a.s.a.p, and getting more revolving credit, or playing the PFD letter game for months?

if i pay in full will they no longer show as deragatory and delinquint, and actually hope my score vs hurt?

then i have my fingerhut that ive been working on paying down my balance to less then 20%

thanks for your time and effort its greatly apreciated

RobertEG · ‎09-14-2015

You can continue to "play the PFD letter game" until you are faced with the need to satisfy the debt as a pre-condition to approval of new credit.

If/when you apply for a mortgage, the lendor may or may not require satisfaction of any unpaid delinquent debt as a condition, regardless of your score.

It would be prudent to have an informal chat with your prospective mortgage lendor well in advance to application, thus having a clear understanding of their requirments.

If you cannot obtain a PFD, then you can seek a settlement for less, thus saving a bit of $$.

A settlement for less satisfies the debt the same is if paid in full, Thus, the debt would no longer be delinquent if settled for less.

If you settle for less, the problem is that they can optionally report that fact to the CRA. REporting of the additional comment that the debt was paid/settled for less than its full amount is always a negative comment that should be avoided, if possible. It informs others who do a manual review of your credit report that you have a prior pattern of not paying the full debt that you obligated, meaning the prior creditor took a loss in dealing with you.

If you can obtain both a settlement AND their agreement not to report paid/settled for less, then your credit report will appear the same in any manual review as if the debt had been paid in full.

Anonymous · ‎09-14-2015

thanks i also have an apt with a local credit counseling firm, to help point me in the proper direction, im not looking for them to actually do anything except point me...

Anonymous · ‎09-14-2015

@Anonymous wrote:
if i pay in full will they no longer show as deragatory and delinquint, and actually hope my score vs hurt?

I've read in other places on the forums that a collection will count as a collection on the FICO score regardless of whether or not it is paid. That the only thing that really helps is time. So, I would try to get them removed if possible. I'm not sure in which place I read that though. ?