Pay For Delete on Credit Card

[Lawn Elder]

I am going to try for a PFD on a cc. The OC is citibank and I have a CA that has been after me. I just looked up my CR and it shows that citibank is reporting and the account is listed as a charge-off. My question is who should I be sending the MO and the PFD letter to? additional info, the CA is in New Jersey and Citibank is in South Dakota.

[chane]

Originally Posted by Lawn Elder

I am going to try for a PFD on a cc. The OC is citibank and I have a CA that has been after me. I just looked up my CR and it shows that citibank is reporting and the account is listed as a charge-off. My question is who should I be sending the MO and the PFD letter to? additional info, the CA is in New Jersey and Citibank is in South Dakota.

Well, if the OC has sent it to the CA, then they are done with the account. The CA is now in charge of it. A PFD doesn't work so well when both of them are reporting it because more than likely the OC won't remove it, even if the CA agrees to it. It's best to dispute everything and pursue other methods when it's being reported by both.

[Lawn Elder]

The thing is, it's the CA who has been calling me and sending me mail but there is only one entry on my CR and that's citibank.

[chane]

Originally Posted by Lawn Elder

The thing is, it's the CA who has been calling me and sending me mail but there is only one entry on my CR and that's citibank.

How old is the account? I'm moving this situation to a new thread.

[Lawn Elder]

about two years

[Lawn Elder]

26 months to be exact.

[chane]

Have you tried disputing it already?

[Lawn Elder]

No, I am at square 1 with this thing, I read in the beginers guide to credit repair that disputing an acct that is still within SOL may not be the best idea. The CA has sent me a letter offering for a 1/2 payment to settle but it is only good for a month, I'd be willing to pay that but I also want to get this thing off of my CR.

[chane]

You could dispute the OC and offer the CA a PFD.

[Lawn Elder]

What do you guys think of my letter, any changes I should make or things I'm missing?

March 3, 2011

ca address

Re: Acct# xxxxxxxxx


Regarding CA. and the above account number, please find enclosed payment by Certified Check, in the amount of $xxxx.xx to be considered payment in full.

This payment will prevent the reporting of my account to all three credit bureas.

Regardless of the total amount you have alleged is owed, this payment represents payment in full and is made on the following conditions:

1. By cashing this check, CA agrees not to report any information about this account to any of the credit bureaus.

2. Any and all inquiries and negative trade lines made by CA and/or OC will be deleted from Dan Arrons credit reports within 10 business days.

3. No accounts will be verified to any of the credit bureaus.

4. Dan Arrons will be provided a letter from Accounts Receivable Management, Inc. stating that the account is closed and will not be verified to any CRA or other third parties.

5. CA is prohibited from selling, assigning, or otherwise transferring this account to any third party CA.

If these terms are agreeable and acceptable, please accept the enclosed check for $xxxx.xx

Please note that cashing the enclosed check will bind you to the terms set forth in this letter.

Dan Arrons