Why have I gotten zero responses from my PFD letters?

[futurehomeowner?]

When I started my repair in March I sent out 5 PFD letters. They went to Midland, NCO, EAS, and 2 to Jefferson.

 

Jefferson just deleted the TL from all 3 and never responded.

 

The other 4 have completely ignored my letters. I sent them all CMRR. I understand Midland doesn't often do PFD but is it normal that they will ignore someone willing to send them money?

 

I am flabbergasted that I sent a letter to someone for a debt that is way out of SOL and are willing to pay and they just flat out ignore me. These salamanders harass you to no end and I am will to pay and they go away.

 

If they didn't like my amount or the requirement to delete, shouldn't they send a letter back with a counter?

 

/rant

[Sandscrit]

Unfortunately it is Midland's(and others) business model to ignore those requests.

[Clydesmom]

I found PFD worked with smaller private collection agencies rather than large junk debt buyers.

[futurehomeowner?]

Unfortunately it is Midland's(and others) business model to ignore those requests.

 

I can understand them not wanting to delete but why don't they at least counter with something. The harass people so they will pay and I am willing to give them money. You would think they would at least send something back saying we cant delete but we are willing to settle.

 

I was figuring working out a settlement would be the easiest way to get them satisfied but I guess I will have to be more aggressive and try to get them all deleted.

[futurehomeowner?]

I found PFD worked with smaller private collection agencies rather than large junk debt buyers.

 

The big one that I need paid is a judgement from Midland. How do you recommend that I get them to accept a settlement. Should I just offer X percentage and no mention of deletion or will they not move on the amount since they can enforce a judgement if they chose too.

[305_sigma]

I just sent a validation letter to Midland this past Friday. I had one from Jefferson but did an online dispute with equifax and got Jefferson deleted along with 7 old addresses.

[lemonlimez]

I have the same situation with phoenix recovery group, they don't reply at all. Sent a total of 3 letters. over the last 4 months..

[beli]

Did you send the letters to executives or just general address found on the collection letters. Executives are more prone to answer pfd's. Not sure if they'll delete the judgment or not.. if you need to pay it, just pay it.. you're adding interest daily to the judgment and making it bigger by holding out for a Pfd. Did you get copies of what was in the judgement from Midland from your court?

[futurehomeowner?]

Did you send the letters to executives or just general address found on the collection letters. Executives are more prone to answer pfd's. Not sure if they'll delete the judgment or not.. if you need to pay it, just pay it.. you're adding interest daily to the judgment and making it bigger by holding out for a Pfd. Did you get copies of what was in the judgement from Midland from your court?

 

Actually for the judgement I know it needs paid so I am not overly concerned about a PFD, I am just trying to negotiate a smaller settlement but they don't respond to anything. The court that it is through has their dockets listed online so I can see the total and all so I assume it is legit. This was before I came to this board and we didn't fight it so they got a default judgement.

[SouthernTreat]

You would think they would at least send something back saying we cant delete but we are willing to settle.

 

Ditto

 

Did you send the letters to executives or just general address found on the collection letters. Executives are more prone to answer pfd's.

 

Thanks for the tip

Edited May 19, 2013 by SouthernTreat

[newearth]

I'm surprised NCO didn't respond. I sent them a simple DV letter and they vanished within two weeks. They sent a letter back saying they have closed my account and will remove from all CR's, and they did. Did you send it to the Prudential Road, Horsham PA address? That's where I sent mine and I *think* I may have put "Attn: Compliance Department". It was the easiest thing ever. Although I sent a DV and not PFD. Maybe try sending a DV to that address?

[futurehomeowner?]

The NCO is for a progressive bill of $137 so I just wanted to pay it and be done with it. I originally sent a PFD and they ignored it so I sent a DV and they received it on 4/29. I haven't received anything back from that yet but it did disappear from EQ and EX but it still remains on TU. I sent it to the address on my credit report and when I received the green card back it was forwarded to a PO box in wilmington, DE

[Clydesmom]

 

I found PFD worked with smaller private collection agencies rather than large junk debt buyers.

 

The big one that I need paid is a judgement from Midland. How do you recommend that I get them to accept a settlement. Should I just offer X percentage and no mention of deletion or will they not move on the amount since they can enforce a judgement if they chose too.

 

You are unlikely to get a reduced settlement on a judgment since they can garnish you and collect a LOT more. They also know as long as it reports you cannot get a mortgage and are jacked on interest rates. Short of offering 75% or more they are unlikely to pay any attention at all.

 

Here is what you should understand with regards to PFD, it is all about leverage.

 

When the SOL for lawsuit is no longer in play:

 

The older the debt able to drop off in 18 months or less and the more often it has been transferred or sold the less it is worth. So if the second, fifth, or ninth collection agency has it they probably paid a few bucks for it and will take 25% to settle and could care less if it is on your CRA as long as they make money. Your leverage for a successful PFD is high.

 

If the debt is recent (which is subjective) but can stay on your CR for at least 2 years or more then your leverage is less because the creditor knows at some point you want credit cards, an auto loan without double digit interest rates, or a mortgage. Your leverage is low.

 

If the OC still has the debt they MIGHT settle all you can do is try. Your chances are better with an offer of updating your file to "closed, pays as agreed, and deleting late pays" than PFD then you keep a positive closed TL. Leverage is equal.

 

The amount of the debt is also a factor. Less than $500 and you can settle for far less. Debt in the thousands many debtors are unrealistic about wanting to settle for pennies on the dollar. That tends to infuriate creditors since you get all the benefit and they get all the debt. Plus, settling for far less on a debt that big tends to generate a 1099-c which can jack your tax return that year so you need to plan for that added income.

 

If the SOL is in play you have no leverage because they can sue you and get the whole amount, their costs, attorney fees, and post judgment interest.

 

No matter what, some OCs, CAs, and JDBs have a strict policy of NEVER doing a PFD and you cannot force them to.

[futurehomeowner?]

 

 

I found PFD worked with smaller private collection agencies rather than large junk debt buyers.

 

The big one that I need paid is a judgement from Midland. How do you recommend that I get them to accept a settlement. Should I just offer X percentage and no mention of deletion or will they not move on the amount since they can enforce a judgement if they chose too.

 

You are unlikely to get a reduced settlement on a judgment since they can garnish you and collect a LOT more. They also know as long as it reports you cannot get a mortgage and are jacked on interest rates. Short of offering 75% or more they are unlikely to pay any attention at all.

 

Here is what you should understand with regards to PFD, it is all about leverage.

 

When the SOL for lawsuit is no longer in play:

 

The older the debt able to drop off in 18 months or less and the more often it has been transferred or sold the less it is worth. So if the second, fifth, or ninth collection agency has it they probably paid a few bucks for it and will take 25% to settle and could care less if it is on your CRA as long as they make money. Your leverage for a successful PFD is high.

 

If the debt is recent (which is subjective) but can stay on your CR for at least 2 years or more then your leverage is less because the creditor knows at some point you want credit cards, an auto loan without double digit interest rates, or a mortgage. Your leverage is low.

 

If the OC still has the debt they MIGHT settle all you can do is try. Your chances are better with an offer of updating your file to "closed, pays as agreed, and deleting late pays" than PFD then you keep a positive closed TL. Leverage is equal.

 

The amount of the debt is also a factor. Less than $500 and you can settle for far less. Debt in the thousands many debtors are unrealistic about wanting to settle for pennies on the dollar. That tends to infuriate creditors since you get all the benefit and they get all the debt. Plus, settling for far less on a debt that big tends to generate a 1099-c which can jack your tax return that year so you need to plan for that added income.

 

If the SOL is in play you have no leverage because they can sue you and get the whole amount, their costs, attorney fees, and post judgment interest.

 

No matter what, some OCs, CAs, and JDBs have a strict policy of NEVER doing a PFD and you cannot force them to.

CM thank you for that info.

 

When I originally sent out my PFDs I actually sent them with either full price or in 75% of the debt depending on what it was. I was thinking full price ones for sure would accept and possibly the 75% ones would and worst case they would counter and say how about full price and we will delete.

 

Like I said above, I am just confused that they flat out ignore me. In my logical thinking, If I received a letter from someone willing to pay for deletion then that person obviously is up to something like buying a house. If I am the JDB why wouldn't I then begin sending letters or asking for the full amount. Its almost like they say,

 

"Oh look this person wants to buy a house so lets just ignore them so they can't. We don't need his $400 but he needs us to delete. HAHAHAHA I guess he should have just paid his debts on time. WINNING!!!!"

[Clydesmom]

It could also be that they no longer own the debt but they are not going to admit that! Try disputing the trade lines with the CRAs that ignored you. If the CA no longer owns the debt then they cannot validate it and it could get deleted for ZERO!

 

Now one thing I did with my PFD letters is enclosed the settlement agreement. The letter basically offered the PFD and said have someone with the authority to do the PFD sign it and return it and when I receive it you get payment within 14 business days. When I got the letters back with the signed settlement I immediately got a money order and sent the payment back with a copy of their letter and the settlement agreement. All disappeared within a month.

 

Now one agency did take almost 8 weeks to agree so give it two months before totally giving up.

 

Good luck.

Edited May 19, 2013 by Clydesmom

[SouthernTreat]

You are unlikely to get a reduced settlement on a judgment since they can garnish you and collect a LOT more.

 

That is not always true. Sometimes they judge it would be more advantageous for them to get a lump sum over installments for financial or other reasons. E.g. the garnishee may lose or quit their job and then the garnisher has to spend additional time and effort to find and wait for the garnishee's next paycheck. This risk may not be worth it to them, especially if they just wanted to make a quick buck to start with.

Edited May 19, 2013 by SouthernTreat

[SouthernTreat]

When I started my repair in March I sent out 5 PFD letters. They went to Midland, NCO, EAS, and 2 to Jefferson.

 

Jefferson just deleted the TL from all 3 and never responded.

 

It could also be that they no longer own the debt but they are not going to admit that!

 

I agree!

[futurehomeowner?]

As for the garnishments, I live in PA and the only thing that they can garnish is a bank account. They are not allowed to garnish your wages for a CC debt.

[Clydesmom]

As for the garnishments, I live in PA and the only thing that they can garnish is a bank account. They are not allowed to garnish your wages for a CC debt.

 

If you live in a state where they cannot garnish wages then that gives you a little more leverage but not much. They can still garnish a bank account and get your paycheck that way.

 

Back in my really irresponsible days I lived in a state that did not allow garnishing of paychecks. I got a call from a bottom feeding attorney (don't remember who or what creditor) and he was abusive and rude. Finally threatened he was going to "garnish my whole paycheck" and that is when I figured out he was outside of my state and didn't know. I laughed in his face (via phone) and said "no, you won't. I live and work in SC and they do not allow wage garnishment for civil debt." He argued he would take my bank account and get it that way. I laughed again and said "what bank account? I get paper checks and pay by money order." He hung up and I never heard from him again.

 

Sometimes when you just can't pay you have to live off the grid for a while.

 

How much is the judgment for and what creditor?

Edited May 19, 2013 by Clydesmom

[Glacier]

Now I might try adding a settlement agreeement with my next PFD request with Cavalry. I have sent a couple, never received a response. Offering 100% on about a $400 debt. I've even sent an email to Andrew Zaro, the supposed President, with no response. It is frustrating when you offer them money and they don't respond.

[futurehomeowner?]

the judgement is for $1585 with Midland and the OC is citibank.

[NEWSTARTIN2013]

Just curious, did you dispute first with the CB before disputing or sending DV letters, PFD letters to these creditors?

[futurehomeowner?]

no. I will do that next if they continue to ignore me.

[lemonlimez]

no. I will do that next if they continue to ignore me.

 

Any update on this FutureHomeOwner?

[futurehomeowner?]

So far what I have realized is once there is a judgment Midland will not talk to you. You have to deal with their lawyer. I talked to their lawyers last week and they would not work any deal out with me. I am drafting a letter next week to their lawyer that is sort of like a goodwill/pfd all in one. At this point I don't care if it is deleted, I just want it marked paid and I want to pay less than the judgment amount.