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PFD on very minor amount with Credit Union


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Hello All,

This is my first post here and after reading around, I must say there is a gold mine of information here!

I was wondering if anyone had an idea as to "how" to go about requesting a PFD with a local credit union (CU). I made 2 local residence moves in the last 4 years and I thought I had closed the account (checking) but apparently it was still open and they closed it after it got REALLY old (> 3 yrs) with no activity and $16.00 overdrawn.

Again, I certainly would have paid this measly amount had I known. At this point, it's listed as "Closed, Charge-Off" on my CR.

This CU is local, I could drive over there or write a PFD letter. I was hoping for some pointers on how I should approach them as I'm just getting started in the credit repair odyssey. My credit isn't terrible (670) but I'd like it to be 750+ so I can buy a home for less than a credit card rate.

So, I guess my questions are - with owing them $16.00, should I:

- go see them in person? If so, what person should I talk to?

- write a letter? if so, addressed to what position in the CU?

- offer them $16.00 plus 8% interest on 4 years? LOL

My goal is to have it REMOVED ENTIRELY from my credit report.

Thanks in advance for any advice,


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My sister is a loan officer and she mentioned (regarding one of her clients) that she could get her a decent loan for a FICO around 650. I'm not sure I'd worry about this idiotic charge off if I were you, count your blessings you don't have OTHER garbage on there. Besides, why wake a sleeping giant?

If you pay it without them agreeing (in writing) to remove their TL from your CR's you'll tank your score.

If it were me, I'd find a loan officer I liked and start the pre-approval process. If you find the right kind of loan officer, they'll have an idea about whether or not it's worth it to bother with this CO. Besides, you'll have proof that your credit scores were good until you went to deal with this 16.00 CO. Word of caution, DO NOT authorize ANYONE to pull your credit reports until you interview several loan officers. Make sure it's a good fit and that they aren't going to mess you over. Remember-this is your money and your time, not theirs in all actuality (maybe a bit of their time, lol). I made the mistake recently in that I talked to some moron by phone and he turned out to be a jerk. My interests were the last thing on his mind and it showed. Don't worry--I took care of him. My sister said she would've "been hiding under her desk" had she gotten the e-mail I sent him (I won't go into detail about what happened) but Just be careful.

Also, if it were me-I'd go local. Find someone well versed in your local economy and housing market.

It's UNREAL that they do this with such low amounts! My dh has collection accounts that are less than 100.00! But oh well. The 16.00 CO is not in collections is it? Either way, and if you do decide to address this-go directly to the CU.


Finally, this truly sounds like an honest mistake. You may want to consider a goodwill letter apologizing for the oversight and make sure to let them know that you had moved. See what they say. Make sure the letter makes it to the right person though.

Good luck!


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"It's UNREAL that they do this with such low amounts!"

I have to comment on this! This is great stuff! Asset collections placed a collection account on my report for the total amount of (drum roll please).........................................................................................................$ 2.00:roll:

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