do i always have to send DV before PFD even if i know its valid collection

[Anonymous]

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pasdetrois wrote:

I know these things cant be rushed but i figured skipping this dv would save time but now I see it can save $$ & headache in long run. Is there any way to do a phone dv...make them verify the debt by calling them & keeping log?

You can attempt to call them and negotiate a PFD for the account, if they agree have them fax you something in writing stating that upon receipt of your payment they will delete the TL from your CRs.  That's a faster way to go than snail mail. Make sure you document who you talked to, get an extension number if you can just in case you need it later.  I have a log of all correspondence between myself and anyone I have contacted in regards to repairing my credit.  However, your personal log will not be enough to hold them to their agreement should they decide to cash your payment and NOT delete the TL.  This is why it is important to get something in writing from the CA or OC, it is definitely in your best interest.  I know it can seem tedious going back and forth, but in my case I was glad I did. 

Also I received two settlement letters few months back from lincoln towing & firestone. The letter basically says they would agree to 1/2  to settle my account but nothing about the pfd. Should I send a pfd in response.

Doesn't hurt to try!

Also anyone have an example of simple dv  letter please.

If you look under most Frequently Requested Threads you should be able to find examples.  That is where I found mine.

Thanks so much- you guys are great!! And i was thinking I should hire an agency to help with this. I even better personal advisers right here.

tytytyty!!

Message Edited by pasdetrois on 07-30-2009 05:15 PM

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Message Edited by FICOmeThis on 07-30-2009 10:33 PM

[Anonymous]

Hi Again

Im not really trying to dispute the debts..I want to do PFD.

What is the most sucessful way of getting this done?

thanks

[Anonymous]

DV serves multiple purposes.

1.  It validates and verifies the debt

2.  It temporarily stops collection activities

3.  It is a pre-cursor step to most credit cleaning, including PFD, settlement, dispute, etc.

However, if you know the debt is yours, know you owe it and have the money, you can make a direct PFD offer, properly executed.

I have known individuals who have combined DV and PFD.  They made the PFD, without admitting liability, and stated it was merely a settlement to avoid the delays and costs of potential dispute or litigation.

They stated within the PFD, if the offer were not accepted, to please provide validation of the debt, etc. etc.  So it was PFD, but if refused a DV letter.

This person had the assistance of an attorney to draft the correspondence.

[Anonymous]

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@Anonymous wrote:

Hi Again

Im not really trying to dispute the debts..I want to do PFD.

What is the most sucessful way of getting this done?

thanks

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Okay . . . Are you trying to PFD the OC or the CA?

If you are trying to PFD the OC of the account then as stated before you can . . .

1. Write them a letter via snail mail and ask if they would be interested in a PFD for the

account ask them to please send you something in writing.

2. Call them and discuss the possibility and have them send you something in writing either via snail mail or by fax.

3. Email them and ask them to consider a PFD for the account and to send you something in writing either via snail mail or fax.

If you are trying to PFD the CA of the account then there are a few more things to consider . . .

1. Does the CA have the legal right to collect money on default accounts on behalf of the OC?  If you PFD to the CA currently trying to collect and they do not have the legal right to collect for the OC then you are screwed.  They will just take your money and won't delete anything!  Then what are you going to do when a CA that DOES have the legal right to collect on behalf of the OC starts trying to collect from you but you have already paid another CA that did NOT????  No one wants to be in that kind of situation.

2. A DV to the CA is not to dispute the debt itself, it is to VALIDATE in writing that the CA did in fact purchase the account from the OC to collect on the default account.  I understand that you know you owe this money to the original creditor but what you don't know is whether or not the collection agency trying to collect on your default account is allowed to and that is what the debt validation is for.  But a DV is totally up to you, it is just a way to save you a headache should any problem occur.

There is no exact method to get a PFD accepted you just have to keep asking them to consider it.  Some companies are more willing than others to accept a PFD others take a bit longer and several correspondences before they agree and some just plain and simply won't accept it.  Just have to try your luck and keep trying.

Hope that helps  

[Anonymous]

Can I DV or PFD a CA when the account is within SOL?

[Anonymous]

If you DV inside of SOL make sure you have the money to pay in full in case they validate and will not PFD.

SOL does not matter if you PFD.