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Trying to settle a First Premier Credit Card Account


Advillc
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Long time reader, first time poster. Please bear with me. I have an account with FP who is the OC that I want to settle. I was just getting ready to send a letter with the terms that I would agree to, when a CA (Arrow Finacial) sent me an offer to settle. I have a multipart question.

1. Is it in my best interest to deal directly with the OC or is it easier to get a reasonable settelment with the CA?

2. Which one is most likely to remove derogetories from my CR?

3. Do I ask for a deletion or a notation of Payed as Agreed?

Can someone give me some input or advise. Any would be appreciated.

Advillc

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Long time reader, first time poster. Please bear with me. I have an account with FP who is the OC that I want to settle. I was just getting ready to send a letter with the terms that I would agree to, when a CA (Arrow Finacial) sent me an offer to settle. I have a multipart question.

1. Is it in my best interest to deal directly with the OC or is it easier to get a reasonable settelment with the CA?

2. Which one is most likely to remove derogetories from my CR?

3. Do I ask for a deletion or a notation of Payed as Agreed?

Can someone give me some input or advise. Any would be appreciated.

Advillc

dealing with the CA, say, for paid for deletion (PFD), does not have any impact with the OC. So, say, you the CA agreed for PFD with you, the negative information from the OC will stay on your file, unless you write GW letter and they agree to remove it from your file. However, if you deal with the OC, say, for PFD, the CA have no business to be on your credit file: Gone.

If your account is a charged off, and they are, the OC, willing to deal with you, you are lucky. So, take it even if the offer is a little bit higher than the CA is willing to offer.

However, accourding to many people on here and reading on this site, which is true, settlement comes as a last resort. Hence, dispute them in every way possible.

a side note: paid collection has no good value, it still have negative effect on your credit file until it falls off.

Hope this helps you somewhat.

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a side note: paid collection has good value, it still have negative effect on your credit file until it falls off.

I agree with everything you said but this one statement. a paid collection will hurt your credit score just as much as an unpaid one or a charge off. You still have the lates showing till you get to charge off.

You may feel better about it if its paid but the scoring system won't be kind to you about it. Only with age will it matter less to the scores.

Work with the OC if they haven't sold the debt out right. If they have you may not have any choice but to work with the CA. JMO

Welcome Good Luck

Moriah

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Is it in my best interest to deal directly with the OC or is it easier to get a reasonable settelment with the CA?

Better the OC if you can.

Which one is most likely to remove derogetories from my CR?

In this case, they both suck, so good luck with either one.

-r

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I just sent a goodwill letter to First Premier about an old account that I paid off long before I knew about PFD's and other credit repair tactics. After writing this I felt dirty. Needed a shower especially after the last few lines.

Sirs,

Listed below are the listings from my current credit report, showing the two listings of the First Premier VISA and Master Card Credit Cards I had several years ago. At the time I applied for them, my credit was pretty bad, and I'm thankful that my card applications were approved, as I was just starting out trying to get my credit repaired. Shortly after, I was injured on the job and I spent well over a year trying to survive on Worker's Comp benefits that barely covered basic living expenses. I recieved calls from your collections people literally every other day asking when they could expect payment. I kept records of every call, when and who, and was considering some legal recourse but just stopped answering the phone after a while and let it go. When I was finally able to go back to work, I set about getting all the late and delinquent accounts paid and caught up, and these were among the first I settled. I have disputed the entries on my credit report several times hoping to get the entries changed, but they are still reporting the same. I'm not asking for a total deletion of the listings, but that would be a very nice gesture on your part. As you can see, the one card is listing as Closed (Paid) on two of the reports, and as Derogatory on another. the second card shows two Derogetories and one Closed (Paid).

Rather than showing as paid after charge off, can you please change the listings to all paid as agreed and remove all the lates? I'm certain I paid off both of these in full, so I do question the listing of an unpaid balance. Most of my financial records were lost in Hurricane Katrina, I was living in Xxxxxxx Mississippi at the time it hit the coast and my house was filled with 5 feet of water. One account is showing 33 lates over 90 days, and that is really hindering my credit score. I've been able to get other credit cards since, and even have two car loans. I've recieved several offers in my email with offers for credit from First Premier, so you must at least think I'm worthy of an account with you again. I regret that I will be unable to get another card from you at this time, I already have several new accounts and really shouldn't add any more at this time. Any assistance with this would be greatly appreciated. I know that First Offers its Credit Cards to people with bad credit or no credit at all, you do what you can to help people get their credit fixed and rebuilt. If you can help me with this matter I will be eternally grateful.

Sincerely,

ME

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Gentlemen, before you pay First Premier a dime, please read this link regarding the New York Attorney General suing First Premer Bank, and (FP) agreeing to refund money to credit card customers for deceptive practices.

http://www.bankruptcylawnetwork.com/2007/08/15/new-york-forces-first-premier-to-refund-45-million-to-new-yorkers-end-fraudulent-practices/

I am currently in a huge fight with them and Arrow Financial over 2 (FP) accounts. I sent 2 DV letters and nothing from Arrow. I am now at the BBB level and they responded with "We will communicate with the consumer directly." So far, Arrow has committed 7 documented violations.

I am also a party in that New York AG legal action against FP.

I am now shopping for a lawyer.

________

Marijuana card

Edited by ABaldbrotha
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  • 3 weeks later...
Stefdr,

Did that letter work?

After this and a bit of email correspondence with someone at First Premier, no luck at all. They suck. Which is why I advise people to never never never never never never never never get a First Premier Card. They suck. And kick puppies.

I'm going to send disputes on the two First Premier cards I had as often as possible just to irritate them all to hell.

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I am also dealing with this issue, 4 FP cards with a total balance of all 4 less than $1500.00. FP sent me a settlement letter, I sent them back agreeing to PFD...FP sells the accounts to Arrow.....Arrow sends me 4 collection notices 1 for each card....Arrow now claims the amount owed on each card is $3200.00.....I DV them no response, I DV them a second time and dispute with the 3 CB's.......2 days ago Arrow sent 4 more collection letters this time for diffrent amounts of $2800.00 x4.

I think I have 8 violations now, but I will continue to DV them for the next 60 days in order for them to violate more.

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I too am dealing with First Premier, they have sent Pinnacle Financial after me. But FP is still reporting on my credit reports. First premier will not even talk to me; they say to deal with Pinnacle who, I have 7 documented violations against. I sent FP and Pinnacle PFD, Pinnacle says they are not reporting so they can not delete and first premier is ignoring me. HMMM!?!?:evil:

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Have any of you received deletion at all with First Premire?

If so how did you get the deletion?

Thank you for your help.

Yes, I beat them. I wrote a complaint on offical court documents and sent it along with an ITS. They agreed to my demands.

-r

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Did you get the court docs from court? What kind?

Thank you razor !

I've always filed in my local small claims court, since the judge accepts that he has jurisdiction and seems to have little tolerance for collection agencies. In PA, you can download the forms you need to file a complaint. I imagine you can do the same just about everywhere.

FPB was reporting all kinds of crap on my report, although I never had an FPB account. My wife had an account, but they were reporting very different info on her report.

I disputed with the CRAs-FPB verified. I then requested an investigation under the FCRA, they replied with "We are not subject to the FDCPA". I then called them twice in which they could not find any information on my account. Sent them a follow up letter with no reply.

I then wrote out a complaint on court documents.

Filed a complaint with the BBB (just reused the legal complaint). I do this because it tends to get the attention of someone higher up in the company, not just a Customer Service drone.

At the same time, I sent an ITS letter to FPB, including a copy of the legal complaint. IMHO, any ITS should include a settlement offer. I agreed to settle for:

  • Permanent removal of any and all information furnished to any and all credit reporting agencies;
  • FPB agreeing to not pursue this matter in the future;
  • FPB agreeing not sell this debt.
  • $1000.00

They replied with a letter agreeing to all of the above with the exception of the $. I agreed, they went bye-bye.

This is the basic tactic that I use with all creditors that I want to go away.

-r

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I've always filed in my local small claims court, since the judge accepts that he has jurisdiction and seems to have little tolerance for collection agencies. In PA, you can download the forms you need to file a complaint. I imagine you can do the same just about everywhere.

FPB was reporting all kinds of crap on my report, although I never had an FPB account. My wife had an account, but they were reporting very different info on her report.

I disputed with the CRAs-FPB verified. I then requested an investigation under the FCRA, they replied with "We are not subject to the FDCPA". I then called them twice in which they could not find any information on my account. Sent them a follow up letter with no reply.

I then wrote out a complaint on court documents.

Filed a complaint with the BBB (just reused the legal complaint). I do this because it tends to get the attention of someone higher up in the company, not just a Customer Service drone.

At the same time, I sent an ITS letter to FPB, including a copy of the legal complaint. IMHO, any ITS should include a settlement offer. I agreed to settle for:

  • Permanent removal of any and all information furnished to any and all credit reporting agencies;
  • FPB agreeing to not pursue this matter in the future;
  • FPB agreeing not sell this debt.
  • $1000.00

They replied with a letter agreeing to all of the above with the exception of the $. I agreed, they went bye-bye.

This is the basic tactic that I use with all creditors that I want to go away.

-r

Thanks Razor! Wow great insight! (AS ALWAYS OF COURSE!):D

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I just sent a goodwill letter to First Premier about an old account that I paid off long before I knew about PFD's and other credit repair tactics. After writing this I felt dirty. Needed a shower especially after the last few lines.

Sirs,

Listed below are the listings from my current credit report, showing the two listings of the First Premier VISA and Master Card Credit Cards I had several years ago. At the time I applied for them, my credit was pretty bad, and I'm thankful that my card applications were approved, as I was just starting out trying to get my credit repaired. Shortly after, I was injured on the job and I spent well over a year trying to survive on Worker's Comp benefits that barely covered basic living expenses. I recieved calls from your collections people literally every other day asking when they could expect payment. I kept records of every call, when and who, and was considering some legal recourse but just stopped answering the phone after a while and let it go. When I was finally able to go back to work, I set about getting all the late and delinquent accounts paid and caught up, and these were among the first I settled. I have disputed the entries on my credit report several times hoping to get the entries changed, but they are still reporting the same. I'm not asking for a total deletion of the listings, but that would be a very nice gesture on your part. As you can see, the one card is listing as Closed (Paid) on two of the reports, and as Derogatory on another. the second card shows two Derogetories and one Closed (Paid).

Rather than showing as paid after charge off, can you please change the listings to all paid as agreed and remove all the lates? I'm certain I paid off both of these in full, so I do question the listing of an unpaid balance. Most of my financial records were lost in Hurricane Katrina, I was living in Xxxxxxx Mississippi at the time it hit the coast and my house was filled with 5 feet of water. One account is showing 33 lates over 90 days, and that is really hindering my credit score. I've been able to get other credit cards since, and even have two car loans. I've recieved several offers in my email with offers for credit from First Premier, so you must at least think I'm worthy of an account with you again. I regret that I will be unable to get another card from you at this time, I already have several new accounts and really shouldn't add any more at this time. Any assistance with this would be greatly appreciated. I know that First Offers its Credit Cards to people with bad credit or no credit at all, you do what you can to help people get their credit fixed and rebuilt. If you can help me with this matter I will be eternally grateful.

Sincerely,

ME

I was just checking on you, to see if you received a responce from First Premire yet. Your letter was great. Very creative as a matter of fact. I am hoping you get it deleted!

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I was just checking on you, to see if you received a responce from First Premire yet. Your letter was great. Very creative as a matter of fact. I am hoping you get it deleted!

After a few emails and GW letters, they won't budge. Its only showing as a Derog on EQ, but the Paid(Closed) on the other two are counting as Derog's as well. I paid off the two cards before doing in depth research on credit repair, so I didn't know about the PFD option back then. Before you send any payment at all, to anyone, get the complete settlement agreement in writing. Trying to get a deletion after the fact is next to impossible with FP. Keeping a negative listing on your CR's is like some noble cause to them. What I might try next is to ask them if they will reactivate the cards to get the accounts back in a positive reporting status, and once they are reporting positively cancel them. has anyone ever tried that with any success with these vultures?

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After a few emails and GW letters, they won't budge. Its only showing as a Derog on EQ, but the Paid(Closed) on the other two are counting as Derog's as well. I paid off the two cards before doing in depth research on credit repair, so I didn't know about the PFD option back then. Before you send any payment at all, to anyone, get the complete settlement agreement in writing. Trying to get a deletion after the fact is next to impossible with FP. Keeping a negative listing on your CR's is like some noble cause to them. What I might try next is to ask them if they will reactivate the cards to get the accounts back in a positive reporting status, and once they are reporting positively cancel them. has anyone ever tried that with any success with these vultures?

Gosh stefdr, how frustrating!

Keep me posted with what is going on with them.

Hey do you have any contact names or e-mail addresses for them? If You have anything at all please post them. I have nothing. If I find some I will post them for you also. Good luck to you. I hope we can get through this asap!

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Long time reader, first time poster. Please bear with me. I have an account with FP who is the OC that I want to settle. I was just getting ready to send a letter with the terms that I would agree to, when a CA (Arrow Finacial) sent me an offer to settle. I have a multipart question.

1. Is it in my best interest to deal directly with the OC or is it easier to get a reasonable settelment with the CA?

2. Which one is most likely to remove derogetories from my CR?

3. Do I ask for a deletion or a notation of Payed as Agreed?

Can someone give me some input or advise. Any would be appreciated.

Advillc

Any luck yet? Just wondering. Keep us informed!

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I am also dealing with this issue, 4 FP cards with a total balance of all 4 less than $1500.00. FP sent me a settlement letter, I sent them back agreeing to PFD...FP sells the accounts to Arrow.....Arrow sends me 4 collection notices 1 for each card....Arrow now claims the amount owed on each card is $3200.00.....I DV them no response, I DV them a second time and dispute with the 3 CB's.......2 days ago Arrow sent 4 more collection letters this time for diffrent amounts of $2800.00 x4.

I think I have 8 violations now, but I will continue to DV them for the next 60 days in order for them to violate more.

Wow that's insane! Arrow just made an inquiry on my credit report. I sent a pay for delete a few days ago.

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Shoot I wanted to pay off First Premire and they sent my infomation to Arrow Financial! First Premire will not accpet my offer.

#1 Should I hurry and pay Arrow before they report to the credit bureaus?!

#2 Will the charge off on First Premire get removed from my credit report now that Arrow has the account?

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