Payoff Discount Offer

You will not benefit anymore or less to pay the settlement amount versus the original amount. The account wiil only be updated as [paid in full]. It would be better to send a pay for deletion letter ,agreeing to pay the settlement amount . Try to get this account deleted completely. This in return will help your credit score. Never pay more than you have to .You can always negotiate.

Since a settlement offer has already been made, a PFD may require a higher payment.

If it were me I would take the deal and get it over with, since it is already reported as a negative item anyway.

Depends on how old the debt is on what decision that I would make, I would want rid of it as soon as I could so I would probably take the deal and get on with life. You are right erb, it is already reported as a negative anyway right, if the debt is real old.

I would just pay and get it over with. true the debt is old but if it isn't very much why be hassled over it.

sometimes it is worth it to just pay it and get rid of it, you can probably get a pretty descent payment plan from them. goodluck and keep us updated on your progress.

Never went anywhere with it yet. Just have too much on the plate right now.

I too think you should make the payment and get rid of it. You can definitely send a PFD to the CA and see if it works. Even if they do not agree to delete it from your report, you can pay it as it will show "paid in full" in your report. This is no doubt a better option than keeping the debt outstanding.

Paid in full's do not help your score, just so you know, I have three or four on their now, and they have NOT raised my score, so push for the pay for delete.

I hear you almost have to have them agree to a pay for delete in writing or most times after the debt is settled they won't delete it. I read alot of posts on this site and find that is a common problem. I hope to do it soon but for now I have to put it aside due to financial problems stemming from an auto accident.

This is true fireyone, you must get it in writing and make sure that you get a paid in full when it is all said and done. You will want to follow up with the credit reporting agency to make sure that the colletion agency follows through with their promise to delete.

I recieved an 'offer', on a PDL. Of course, the letter ( from a CA..) says "they will settle for a less amount." I know the CA is on my CR, not the PDL company, itself. I should I handle this? We ALL know PDL's charge outrageous % rates, on their loans. Any advice?

Can you afford to take the offer? If so, I would take it and get rid of it, but make sure that you get the letter for the paid in full so they don't sell it off and someone else tries to collect on it also. Sometimes these things get passed around so much that they don't even track that you have actually paid the debt.

don't promise anthing that you can not deliver. keep the payment where you can afford it.

That there is the best advice. Making a payment arrangement you can not afford will lead to more stress and headaches fro the collector

Sometimes they are so demanding it is unreal, I have told them stuff just to shut them up, get them off the phone and then avoid them later.

I know and I am sure you are not alone. If they would make sure they weren't demanding more than people could pay they would get better results.

Hi daveinchico
What I think is that, since you have the option to settle the dues for much less, $272 against your due of $600, I would also suggest you to go for a pay for deletion agreement as Scott suggested. If they agree to your PFD, get it in writing. Because until the CA agree to your PFD agreement, the listing will not get removed from your credit report even if you pay the amount, and so your credit score will not improve.

repeat post.

Yeah I think I seen this one before too.

I don't think they realize they are doing unless it is exactly the same, then I know it is a copy and paste deal.

Hate those copy paste deals

yep, me tooooooooooooo

I sometimes see where mine posts twice and if it is me I am not doing it on purpose. I have seen a couple of yours do this to. Now owrry usually a moderator is around and fixes it.

I don't know why it happens sometimes, I am sure somebody has an eye on it.

are you double clicking when you hit the reply button?

No. Thats what surprises me. I see it happens with more posts than mine so it may be a glitch. Hasn't happened in a while now.

finally let me in, I had to clear my cookies and defragment and then shut down and come back on. So if anyone else is having that problem this is the way to fix it.

Wonder why so much aggravation? If I were you GN I would set my cookies to delete themselves everyday. After so many computer problems in the past I found that this actually worked.

How do you set it to delete everyday?

Oh let me think...control panel..internet options..then click on browsing history. Set it for 0 days. same thing if you have a cookies button setting..my laptop does..my desktop doesn't...So far all my trouble usually is with the desktop. As of now and for months it won't let me surf the net. Not paying another $60 to fix it.

ok, thanks I will do that.

It will work wonders. Did for me.

gotcha

Do you know that even if you hit the "since last visit" button it doesn't give you all your posts? I hit "all my posts" and seen quite a few I din't answer. Including this one.

I guess I will find out how the pay off offer will live past the deadline date that they gave me, I will not have the $615 to pay them right now but will in about two weeks, so I am avoiving the phone calls until I have the money, so I figure what I will do is buy a money order for this amount and send a letter along with it telling them by cashing the money order that the account is to be considered paid in full. I will also write it on the memo section of the money order also. I figure it is worth a shot anyway.

What happens if they don't cash the money order? Will they send it back or hold it until you have the rest? I believe there is a time limit on MO. Hopefully they will except it. I know how it feels when you just need someone to cut you a break. I have been having my own money problems for a while now and they have grown worse over the past week or so due to vehicle problems that believe they must come all at once.

I will call them a head of time and explain the situation, I think they will accept the offer since they have only had the account for like a month and I did make a payment on it like a week before they got it. They can either accept my offer in one payment or set it up on arrangements, we shall see here in a week or so. wish me luck.

I don't feel you will need luckespecailly if you were making payments before. I really wish they would pass some kind of law or act giving a grace period longer than 30 days (some don't even have that) for people who find them self facing finacial woes. Kid of like a interest free period. I know some people would probaly take advantage of that but if you could only do it for a period of time I really believe there would not be so many deliquent credit card debts. You think one time you miss a payment and iots like standing at the top of a hill and giovng the ball a little kick.

I know and most of them will not give you a break regardless of your situation.

This is true but yet they will turn and sell it to some collection agency for a couple pennies. I think this is the p[art that annoys me the most.

oh yeah and they charge it off and take it as a loss with the internal revenue service, I don't get that either, they sell it, charge it off so the bill does not exist to them anymore so why does it matter to a collection agency. They are the ones that make the big bucks here that is why. It is a screwed up system isn't it?

What is even worse on top of that is if you still have to pay some bill collector because you are not prtected by the SOL and the IRS. This sysytem Gn is past screwed up, they need to let me reform it.

I know, if you pay anything then it will start the statute of limitations all over again, that is why it is so important to learn about the fair debt collection law. The more we know the better protected we are.

The fair debt collection law. where do you find that at GN? I have heard of it and think at one time I even visited the site but don't remember.

Are you going to combine the flooring permanent or do will you change it?

Yes Goodnatured, Once your SOL is over, if you pay any amount, the SOL will rewind and you will be liable to pay the entire debt. So before paying back any debt, you should make sure whether the SOL in your state has expired or not.
and Fireyone,
You can find the fair debt collection practices act if you go to the link http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf

Thanks Anthony. I will have to bookmark it.

I think that alot of people don't understand this part of debt collection, I did not know jack about the statute of limitations until I came here. I had already paid some that were out of the sol, but was actually glad to have them out of my hair.