I'm preparing to send a PFD request and am just wondering why some succeed and some fail. Why wouldn't they agree? I mean, assuming of course I'm willing to pay everything they're asking for and not requesting a reduction in debt amount. Basically, I have a bill that comes once per year, I changed address since the last one, it came, it didn't get forwarded (post office said they were unable to forward mail since it was a rented mailbox at a commercial location (postal annex) ), and I knew it seemed like I should have got the bill so I called to try to pay and kept getting voicemail boxes and left my new address and my phone number in order to pay via phone... finally, I just mailed the payment but apparently they never cashed the check. Now, last month I noticed it was sent to collections as I checked my credit since we were preparing for a business loan. So, there went that. From 750ish on all three to low to mid 600s... overnight. Damnit! Anyways, the collection agency basically just waited and waited until they reported. They didn't do an inquiry which would have notified me that something was wrong (I check every couple weeks), they didn't send mail to my new addresses shown on my credit report, etc. I think they just wanted to let it sit until it was past 120 days and it just demolished my score so they could get me to pay. I would have paid right away to avoid all this!!!! Any last minute advice?!?! Thanks!!!!
Dispute it first. If it is verified, then you may consider a pay for delete. Companies refuse to do this insofar as they're under a contractual obligation with the credit reporting agencies not to delete accurate information.
I just, not even 10 minutes ago, got a PFD agreement from a CA for an $80 charge. She was hesitant to put anything in writing for "legal reasons" but finally sent an email promising to delete the listing upon payment. I don't know why some companies will agree for a PFD and some won't, but for our measly $80, I was willing to try. I sent the PFD letter, then when she called to talk about it,I just sucked up a little, told them how impressed I was with their customer service and made it sound like it was no big deal. It didn't take much convincing on my part and was the easiest delete I've gotten in a while. Try that if a dispute doesn't work. Good luck.
Thanks, that is great to hear. Anything removed from your report for $80 is a steal! Anyways, I owe about $1,200.. so I would REALLY think they'd want to settle. Unfortunately it's a huge company and not a small-time agency so perhaps to them it's not worth it.
In short, businesses are like people, they all have different personalities and values. So each situation is its own scenario. A PFD is a business "settlement" or negotiation. Some will accept it as the "least costly business move", others will not accept it on a "practices" ground. A PFD is always worth the try, and it works better the sooner in the process you offer it. As for success rates, it's a crap shoot. But nothing ventured, nothing gained, so always ask. My (personal) advice on a PFD request: don't get greedy. If you're requesting a PFD, don't try for a 50% settlement and PFD. If your main goal is deletion, then offer the full amount.
