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To pay or Not to Pay


BroncoRob
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So I have a BOA credit card that was charged off and sold to cavalry portfolio services.

 

Original BOA card was issues 3/2007.   original amount was 800 and now cavalry portfolio services has it listed for 1032. 

 

 

cavalry portfolio services stated the date of open was 7/1/2011 - So will both come off my CR 3/2014? or just the BOA?

 

Trying to boost score to get house - maybe do I offer cavalry portfolio services 50% for "paid in full"? is pain in full look better on CR then not paid? - Seems to me that cavalry portfolio services is very hard to get a Pay for Deletion but I will request that first I guess....

 

 

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It's definitely better to show as paid vs. an open balance.  Besides, if you are going for a house, they will make you pay the collection before you get a loan.  

 

However, it's obviously better not to have a collection at all.  The best option would be to go for a Pay For Delete, definitely.  Have you tried?  At 50%, that is a handsome profit for them.  

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have not tired, but also have not found someone who has successfully paid for deletion with cavalry portfolio services.... Should I call to ask for pay for deletions? obviously get it in writing before you make payment...

 

I did a test run with a small $49 medical collection and got a pay for deletion with about 20 min of going back and forth... had to pay full amount plus 15 processing fee!  

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I've heard rumors that Calvary doesn't do a PFD... however, any offer you send should be in writing.

 

 

When did you default on the card?

 

 

 

Also, depending on the bank, a $1k collection may not need to be paid - again, it will depend on the bank and even the individual underwriter.

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Good job with the medical collection!

 

If you call, you need to get the name of the person you talked to, the address of the office, the fax number and the person's extension.  No matter whatever happens on the phone, write up the offer you want and send it in.  You are really just feeling out the people on the phone.   And any verbal offer needs to be followed up with a written one.  

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