Question
I have a question about a pay for delete letter?
I want to clean up my credit report and I got the free copy this year from the 3 big credit companies. I have already disputed several things on it, and got the reply that the debts were indeed mine, which I knew they were. The only pay for delete letter samples I can find are for sending before you dispute the items on the report. Since I've already disputed can I still send one and where can I find a sample of what to write? Also who do I send it to the original creditor or the credit bureau?
1 month ago - 3 answers
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First...pay for deletes won't work with defaulted/charged-off credit card debts...these stay for 7 years. Collection agencies can only remove what they report...the original creditor will continue to report the charge-off and this stays. You may be able to negotiate the complete removal of non credit card debts like defaulted cell, medical, utility bills etc. from your credit report with a Pay for Delete agreement. This is a written agreement where you get a signed agreement from the debt collector (PRIOR to making any payment) where they offer to remove the negative items from your credit files after an agreed-to amount is paid. They will NOT want to do this....all they want is your money and their commission and they could not care less about your credit rating....Still, you have something they want (money) and that puts you in a position to negotiate on this issue. Example letter to send to collection agency: I am willing to resolve this issue if your firm sends me a written agreement that you will remove all negative notations from my credit report after the agreed-to amount is paid to you. Upon receipt of this letter I will mail you a USPS money order for this amount. ---------------------------------- Again, they are not going to want to do this...if they simply refuse to remove it, then you want to negotiate that they will update your credit report to "Paid in Full.” Get all terms of any settlement deals IN WRITING FIRST, then you pay. Never accept verbal promises over the phone...they'll promise you anything over the phone to get your money then they'll deny that any agreement was ever made once they have your money. Pay only via USPS money order. Photocopy and keep in your permanent records. Never, ever give them your checking account numbers for payment.
by CatDad
1 month ago
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Other Answers
I have a better idea. First of all, lets start by taking the time to catch up on news that have been going on. I'm assuming you haven't been sued for this debt and stuff like that. Therefore, start out by calling your credit companies. Offer them a SETTLEMENT(start off by slashing 70% off, then 60 and so on...). The companies will most of the time give in since they are trying to recover as much money as possible from you. IF they do accept your offer, tell them you will only pay them IF <=> they remove all negative history from your report from them and to open your accounts up again. If they don't accept your offer, tell them to go to hell and hang up. Call them again later. Do this all over again until they do. PEOPLE MUST UNDERSTAND THAT CREDITORS ARE JUST THAT, CREDITORS!!!! Its not like the IRS or police is looking for you. So why stress about it??? Creditors are just like any other companies, they are not the government. So if you put yourself on the tough side while dealing with them on the phone, you will succeed. Don't sound scared, and ALWAYS tell them that you will pay them when you get a letter in the MAIL stating that they will remove the negative information. As a matter of fact, don't even give them a down payment or ACH trasaction over the phone. Best of Luck, MIA P.S. Make sure you don't sound like the average consumer, act like you actually did your homework.
by M.I.A- 1 month ago
You send it to whomever currently owns the debt, which is usually a collection agency, rarely the original creditor, and never the credit bureau.
by StephenWeinstein- 1 month ago