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Hey CBers hope you are all enjoying your weekend! I have a question regarding BTs and PIF. I normally PIF, sometimes we carry a small balance or balance on a 0 percent special interest. However, I know that most of the advice on this site says to PIF, especially on cards that like to see that, Discover and Barclays in particular, which apply to our personal cc portfolio. My question is, since I also see post on CB saying that users do BTs for the 0 interest specials for 15 or 18 months, are you folks allowing these BTs to sit? If so how do the CC companies view this, since they like to see PIF monthly? My reason for asking is that we have a few BTs to do, one of $11k that we want to PIF, one of $2400 that we want to PIF and one of $3000 that has it's 0 interest special ending in January, since I recently completed an app Spree for DW, I could BT all of it and spread it out over a few cards and PIF within 1st billing cycle. Also, is doing a BT and then PIF within 1st billing cycle also viewed favorably by CC companies (like paying your monthly usage before billing cycle closes)? Just trying to get a strategy down, have been reading and learning from CB for about a year, so I am always trying to improve! Thanks for all your help!

I have a couple collections and i have called them to get a paid for delete which they wouldn't. i know i should've sent letters first but this is before i knew that. I also asked them to validate the debt and they have also done that to. I have the money to pay them, but my question is do I do a paid in full or a settle. Also if i settle can i ask them to mark it as paid in full. Should i ask them for a letter first. or i heard from some that there was paid in satisfactory. last question is i have been seeing a lot of these things on forums and youtube about a letter you can send them and they will remove the collections like magic. I'm sorry for all the questions I'm in a little rush to get this all fixed.

Last year I had a horrible year and I was unable to pay several credit cards that were business and personal and a SBA loan and I fell several months behind. I owe over $100,000 and will soon have the funds to pay all of my debt off. However, up until last year I had flawless credit, I had never been late on any payments, nor had anything ever sent to collections. In the hard times I fell on as a business owner I had no way to pay on my credit cards and almost 20 years of flawless payment history was lost as I had numerous credit cards I could not make minimum payments on, well over $100,000 in balances and over 10 accounts. I will soon have the funds to pay everything off in full, but I was told that will not delete the collection on my credit report and the damage from them will remain for 7 years unless I obtain a written letter from every bank that guarantees me they will delete the collection from my credit report upon payment in full. I have already had a bank send me a letter that they will settle for 50% of what I owe on the accounts, and I owe over $10,000 on each of the accounts, but I do not want to settle them and have a negative item on my credit report. A negative item on my credit report could cost me a lot in the next 7 years on future business needs as I own my own businesses and need to get my credit fixed. I also read that if I pay the accounts in full and get a delete letter that I can also get the banks to delete the late payments from my credit as a error or glitch. That would be ideal so that I can have my perfect credit again. I will have ample money to pay it all off, but I do not want negative items on my credit report still. I was going to write a letter and mail to each bank and tell them that in return for removing the late payments and collections from my credit report within 15 days of being sent payment for the full balance due, but many of these letters I have found are for settling for less than what is owed. I want to pay what I owe and after I pay them off in full, I want to get the accounts re-opened as many are over 10 years old and I do not want to lose them from my credit profile as strengths. How should I go about doing this? Considering many of the banks already are expecting to get no more than half of what I owe them, and I writing them to offer to pay it in full now, I am guessing that they will agree to my request, but I would like to get the accounts reopened if possible or to report as closed by consumer, not closed by lender, so they report more favorably.

So excited. Took a loan out on prosper.com for 2500.00 3yr term 31.49% simple interest back in Oct 2011 to cover back condo fees and a over limit credit card. I've been paying it three months ahead for the past year trying to cut out some of the interest charges. Paid in Full today and ready to have it behind me. Even the customer service rep on the phone said my rate was crazy high! Sick in bed today but wanna get up and dance around!

Hi everyone, Recently, a collection item popped up on my credit report for a dental bill from 6 years ago. I called up the number of the agency from my credit report and immediately paid the bill in full. I did receive an email and a pdf attachment from the collection manager saying this: "This letter shall confirm that the above-mentioned account has been paid in full as of date YYYYMMDD. Payment of $XXX has been received and posted to the account referenced above. We have also requested that it be deleted from the credit bureaus. Note that we can only request that it be deleted and you must follow up with the credit bureaus to ensure its deletion." While going through the forums, I saw that people use paper mail to get a request such as this. I was curious if the pdf and email I received is as valid as a "paper" letter. How soon can I expect to see that the account has been paid and deleted? Thanks AK