I sent a pay for delete (PFD) to a credit card company and have received a response from them. :-) In their response letter they have told me that they are accepting the amount mentioned in the letter and have given the due date of payment. Company also said, they will get the negative item removed from my credit report soon after I pay the amount. At this point I have a few questions.
a) The response letter they have sent me does not have any signature on it, though it is written on their letterhead. Shouldn't they sign the letter?
b) They have not specified any time as to when they will report the CRA. Shouldn't they mention that?
c) How should I pay them the money? Should I send money order or check?
d) Whichever way I send them the money, should it be through certified mail?
Please help!!
Hi Guest,
Well, congrats that you have got a response from the credit card company. I don't think that the signature matters that much. They have sent you a reply in a letterhead. This should be sufficient as a proof. As for your next question, there is no fixed time as to when they will report. Normally, the creditors do not mention this in the letter. However, continue to remind them about their promise after you have paid. You can pay them back using any means you wish to. Just be sure that you have sent it through a certified mail so that you have the return receipt with you.
Yes congratulations on your accomplishment. I sure you feel really proud and relieved. I believe after you have paid what you agreed to pay. That should be when they would report to the credit agencies. And yes make sure to send you payments certified so you have proof.