Process for PFD to creditors

[georgeb]

So we heard back from the loan officer that we are working with. She went over my credit report line by line and told me what we needed to pay. She said that if we paid them it wouldnt help my score and may even drop it but slowly overtime will increase as time goes on. I asked her if having them deleted would help and she said it would do wonders to my report if we got them to remove. So I am coming to the board for some advice

 

 

1. How should I go about this PFD process?

 

2. Should I send letters to the bureaus that I sent to the CA?

3. Should I send regular mail or certified?

4. Lastly what should I say. I am very nervous cause I want to make sure I do it the best way I possibly can the first time. I have about 9 of these to send out and I want to get as many to agree as possible.

I saw awhile back where someone performed these tasks via fax is that an option or is mail much better...

Thanks in advance for any and all responses.

[georgeb]

One last thing if I have multiple accounts with one CA should I send two seperate letters or include them both in one mailing

[georgeb]

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[georgeb]

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[georgeb]

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[LogicalNoMore]

Faxing is a poor choice for both parties involved. Stick to Certified Mail , Return receipt.

Secondly Pay for delete must be a one time solid offer that is fair and inviting of an offer if you are earnest in getting these off your report. Stay away from bouncing back and forth on values and terms. State the terms and amount straight up.

 

Lets say you are aware that the OLD debt is past it prime and has been sold and resold. The original amount got written off....Lets say it was for 5,000. The years and the amount of value decreases...So a fair amount to offer might be 1k. Why is that fair? Because the collector paid probably 500$ to buy it...and they would be getting a 500$ profit, while you get the peace of mind that its vanished (for good) off your report. Again this is just a sample and not to be used as a definite formula. I would also mandate them to not resell it or make any attempt for further collections or thru the courts. Final offer includes protection for yourself and the future. There are plenty of sample letters here to address the PFD on this site.The simpler the better.

Edited March 21, 2012 by LogicalNoMore