I have had 4 loans through Pioneer Military Lending the first three of which were paid off in full with no late payments. On this last loan it ended up being charged off in the amount of $6765. The current amount on my credit report showing is $7722 due to fees probably. I was going to send them a PFD letter offering $5000-$5500 and was wondering if that was a good idea or not.
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Posted 11 September 2011 - 12:56 AM
Those type of lenders are some of the worst. They have caused many soldiers financial hardship. I'm assuming its the same concept as payday lending. Do they have a branch on post or just outside of the gates? Also, How old is the defaulted loan? This will be very important as to how eager they are in settling.
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