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How much to Pay for Delete

The last post in this topic was posted 3400 days ago. 

 

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I am still doing my research, and trying to learn as much about this as possible, so forgive my ignorance on the matter.

 

My husband has a car repo on his CR. The car was repo-ed about a year ago. The total is $9421 and yesterday I received a settlement letter for $941. If I send in a PFD letter, how much do I offer to pay? Is there a certain percentage of the debt that is normal? Or a certain amount they like to see on a PFD letter?

 

Thanks so much.

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I am still doing my research, and trying to learn as much about this as possible, so forgive my ignorance on the matter.

 

My husband has a car repo on his CR. The car was repo-ed about a year ago. The total is $9421 and yesterday I received a settlement letter for $941. If I send in a PFD letter, how much do I offer to pay? Is there a certain percentage of the debt that is normal? Or a certain amount they like to see on a PFD letter?

 

Thanks so much.

 

 

My limited experience has been that on a PFD you need to be prepared to pay the amount in full (at the time of default), minus the bogus interest and fees. It may be different with a Repo. And some other guys may have some more detailed advice.

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I can't see the logic of PFD in this situation.

 

Since this debt is about 1 year old, it is still within the statute of limitations, assuming they obeyed the laws when they repoed the vehicle. What motivation would this CA have for deleting when they can easily sue you and win? Once you show them that you have the money, they are likely to sue you to get it.

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So let me understand. They are offering to settle for 10%? You do not indicate whether you want to settle, or can pay that 10%, so I can only suggest:

 

Pay the offer amount and deal with the deletions/disputes after they are paid.

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I can't see the logic of PFD in this situation.

 

Since this debt is about 1 year old, it is still within the statute of limitations, assuming they obeyed the laws when they repoed the vehicle. What motivation would this CA have for deleting when they can easily sue you and win? Once you show them that you have the money, they are likely to sue you to get it.

 

 

Well, the fact they are willing to settle for only 10% this soon (1 year) might indicate the husband's BK score is high enough to tell tehm they won't get paid even if they do get a judgment. So the CA is clearly not dealing with this as if they think they can sue and actually get the full amount, or anywhere near it.

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What exactly is a "BK score?"

 

BK is Bankruptcy Score. CRA's and various risk management firms including FICO offer these scores/ monitoring products to many financial institutions, CA's, etc. to help mitigate losses and achieve the optimum cash flow.

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What exactly is a "BK score?"

 

BK is Bankruptcy Score. CRA's and various risk management firms including FICO offer these scores/ monitoring products to many financial institutions, CA's, etc. to help mitigate losses and achieve the optimum cash flow.

 

Never heard of it. Interesting.

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What exactly is a "BK score?"

 

BK is Bankruptcy Score. CRA's and various risk management firms including FICO offer these scores/ monitoring products to many financial institutions, CA's, etc. to help mitigate losses and achieve the optimum cash flow.

 

Never heard of it. Interesting.

 

Whenever I look at a credit account (I work for a large credit card issuer) I see a range of scores. I see a FICO score, two separate internal risk scores, and a " BK " score. The BK score looks at far more than the income to debt ratio, as implied above. Basically, it is built to predict how likely it is the consumer will default.

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