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Mommylicious

Newbie PFD Questions

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So I'm starting my credit journey this month. I've DV'd all of my creditors some have been deleted, others are remaining, and a few are still within the 30 day waiting period. As it stands right now I have 35 baddies *cringe* and I'm now in a position where I can take care of all of them over the next 3 months. I want to send PFDs, but I have two questions concerning the method:

1. Is it better to send PFD CMRRR?

2. Has settling for delete ever worked for anyone?

3. What's the standard time to wait for a response on a PFD?

4. After the first PFD and there is no response, is it wise to call or just send out another PFD?

I'm really hoping to have everything paid and deleted by the end of March 2009. I'm not anticipating buying a home or a car, but I want solid credit- something I've never had. I do have student loans and they're all deferred (25,000). I just canceled all future payments because now I'm looking to diversify. If anyone can direct me to an area on the forum that explains all of this that would be great.

Thanks!

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I had 2 successful PFD's one was a overdraft for a checking account and the other was a collection agency with a $50 parking ticket- I initially made phone calls. I was able to get a letter in writing from the bank prior to my pay agreeing to the PFD- the collection agency would not budge and didn't write a letter of agreement- but they verbally agreed to stop reporting- I paid both and both stopped reporting.

One thing to keep in mind is don't admit the debt is yours- just tell them you were reviewing your credit report and want to take care of some issues.

Be wary of SOL- you may 'wake up a sleeping giant' and end up in a lawsuit- but if you believe the debt is yours and have the finances to pay it off- you really don't need to worry about that. Have you tried disputing your 35 baddies- you may find some may fall off by disputing. Good Luck- all your answers are here in the forum- it's just finding them- and sometimes weird things might happen that are minor setbacks- like an aged baddie falling off and actually causing scores to lower. And start building some good quality accounts- that will help.

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1. Is it better to send PFD CMRRR? Yes.

2. Has settling for delete ever worked for anyone? Yes. I negotiated a PFD for DH and it is now removed from all CR's.

3. What's the standard time to wait for a response on a PFD? In my letter, I asked they respond within 30 calendar days. I would add an extra 10 days (total wait time= 40 days) just in case they waited until the very last day to send their response.

4. After the first PFD and there is no response, is it wise to call or just send out another PFD? I think I would send another PFD. Maybe others here can give you better advice on that one.

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