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Pay for delete BEFORE validation???


crfix
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Hi all! I have a CA reporting two different tradelines on my CR. The debt is six years old and due to fall off my report next year but I'd like it off now. They haven't contacted me in years! I was going to DV them first but I found this letter online and this indicates that a PFD first may be the way to go???

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. In order to compromise, I am willing to pay this account in the amount of $_____ if you agree to delete this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of $_____ will be sent in exchange for full deletion of all references regarding this account from my credit files and full satisfaction of the debt. Since I am sending certified funds for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

If you agree to the above terms, please prepare a letter on your company letterhead agreeing to the same terms as the above settlement offer. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

Name

123 Any Street

City, State Zip

The debts are for less than $137 and $277 and I'd like the TLs off my report asap. Has anyone tried a PFD before a DV? Good idea? Bad idea? Also, when/if I ask for a PFD, should I treat each account separately? Or just deal with them both at the same time since the same CA holds both of them?

Thanks for any and all help!

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I wouldn't hold your breath.. you may pay it and they will mark it paid but no matter what they tell you on the phone I will bet it wont be removed.. they are not going to do it in most cases and don't have to.

I am not trying to sound negative but it's been my experience things of this nature no matter what they tell you on the phone are not removed only marked as paid

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I wouldn't hold your breath.. you may pay it and they will mark it paid but no matter what they tell you on the phone I will bet it wont be removed.. they are not going to do it in most cases and don't have to.

I am not trying to sound negative but it's been my experience things of this nature no matter what they tell you on the phone are not removed only marked as paid

I agree complete with BlueEyes. I would also add that these debts are 6 years old, they really are having very little impact on your scores. Plus, if the CA is not bothering you, why kick the hornets nest?

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no matter what they tell you on the phone I will bet it wont be removed..

Well, I wasn't planning on calling. I was thinking of sending the letter I posted CMRRR and offering them $35 for one acct and $70 for the other ($105 total - 25% of each acct).

I would also add that these debts are 6 years old, they really are having very little impact on your scores. Plus, if the CA is not bothering you, why kick the hornets nest?

I want to be approved for a mortgage loan and my understanding is that most lenders want collections paid off and then they want an explanation of why it went to collections in the first place. I figure if I ask for PFD, at least I have a chance of just removing it altogether. If they don't agree in writing, or just don't respond, then I'll DV and hope they can't validate. Wishful thinking??

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I did what you are thinking about. I first sent a PFD letter to the OC and they said they had sold it to the CA, so I then contacted the CA. (This helped me know the debt was sold). So I sent a PFD letter to the CA. One debt was <$90 and I offered the full amount for PFD. (they accepted it). The other was a debt for $500...since I use the same letter each time, I changed the name and address on top but forgot to change the amount ...but surprisingly the second CA debt of $500 .. also accepted the amount of <$90. These were recent CA accounts too!

So far in my experience ....some CAs are happy to get any money they can. I also read on two other sites to make these offers near the end of the month. The CA people earn commision on what they can collect....so they are more likely to "make deals' at the end of the month. ---don't know if this is true-- but the timeing might be worth a try.

Also I didn't use a form letter like yours...I made it more personal and folksy... kinda like: I was young and stupid ...and didn't check on my accounts like I should have..thought they were paid..never received a letter...thought I had paid this....this was irreponsible of me ...want to do what is right...haven't pulled my credit report in years and was shocked to find out I owed you money..blah..blah..blah

Of course they(CA) said they would delete it, but it is too early to tell if this will happen....but I do have a letter stating they will delete the amount

Edited by tx3amigos
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Did you all "call" and also offer them the settlement amounts over the phone? I understand the need to send a letter and have "them" notate what they agree to in writing for my records but since today is the 27th and I'm taking out a 401K loan I kind of need to know what they will or wont' take in way of Monies otherwise I'm taking too much out of 401K.

But my original judgment amount was $3368.00 in 2004 so now 6 yrs later the CA/attorney wants with interest $6530.14 trying to figure out what to offer them and give them a call right away and also send them a written fax if we can come to a price agreement.

All suggestions greatly appreciated

Edited by Huntet02
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thanks tx3amigos! I got your PM. I like it! I wish I had personalized mine more but I had already mailed it by the time I got yours :(

I sent it CMRRR and was told they'll probably receive it by thursday which is the end of the month! So maybe I'll get lucky! Oh I'm crossing my fingers! Even if they counter offer, at least it'll be hope.

Waiting is haaaard....

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  • 1 month later...

Blah! Request denied...

I received a letter back from the CA stating that my "request for validation is not timely" and therefore they are not required to properly validate (even though I sent them a PFD offer, not a DV request). They just listed the account info and doubled the original amount owed by adding interest and fees.

I think my next step is going to be to once again dispute (last time I disputed this with the CRA was four months ago) and I'm going to call the OC to see if they sold the debt or if they can still pull it from the CA (I doubt they can since the debt is more than 6 years old). If the OC isn't willing to take the payment, then I will offer the CA more money for a PFD. Maybe even pay the debt in full since the amounts are relatively low. But I am certainly NOT paying for the interest and fees they added! The debts are for cable and phone. I thought I read somewhere that utilities can't charge interest? True or false?

*Edit: Typo

Edited by crfix
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