Pay for delete letter: A sample to remove negative items

Sven · Guest 0 Magic Points

Of course you don't have to, but you wo't have any proof that you did send them the letters in case they play dumb.

Joined: 11 May 2009 Posts: 244 6581 Magic Points

Hi Rick,

You have been lucky that the negative items in your credit report have been deleted after paying them off. But in certain cases it is a lengthy procedure requiring time and patience. It is always better to sent all letters to the creditors, collection agencies and credit bureaus through certified mail with a return receipt requested. The purpose is to retain all documents, of whatever effort you have made to repair your credit record.

Joined: 15 Jun 2009 Posts: 7 242 Magic Points

How long does it take to delete the debt record after it is paid? Also, could it be a possibility that even after the paymeent is made the creditor might delay the deletion due to certain reasons?

Esther · Guest 0 Magic Points

I am having problems with IC systems they say per company policy they do not do deletion papers what to do now?

shawnhildebrandt · Guest 0 Magic Points

need to repair my credit

Joined: 03 Nov 2007 Posts: 4007 1224 Magic Points

John,

It seems by your site that you would have alot of good advice to offer, why don't you participate with advice. I think you have alot of good information that could be used by others here.

Joined: 06 Aug 2009 Posts: 1 63 Magic Points

when u have inquires also u get lowered on score so u should try to pull as less as u can

ronel · Guest 0 Magic Points

Can this letter be modified to include a co-signer as well?

Joined: 11 Aug 2009 Posts: 1 15 Magic Points

Can this letter be modified to include a co-signer as well?

Joined: 25 Jul 2009 Posts: 13 293 Magic Points

its great keep it up .....thanks

AngeloMSands · Guest 0 Magic Points

I tried settling with a creditor but they wouldn't settle because I was making monthly payment to the collection department Wow!! I wish I knew about "pay for delete" I recently paid off the account in 2 payments($500 and $200) but it is still on my credit report. Is there anything I can do to get the account deleted since I already paid in full?

Joined: 22 Aug 2009 Posts: 20 1294 Magic Points

I am so happy to have found you guys! There is so much information here! Thank you!!!

I read all 13 pages and still have a question about my situation.

There is one of my credit cards (CHASE) that has the status of "Charged off" 06/08 and given to a CA but has not been sold. The current agency is not reporting it on my credit, only CHASE is, however, CHASE is unwilling to deal with the closed account directly.

What would be a favorable strategy in this case?

1 - Validate debt with CA or CHASE?
2 - If the debt is valid, pay the full amount and request (CA or CHASE?) the status to be changed to "PAID IN FULL".
3 - If #2 doesn't work, settle for a % of the initial amount and request (CA or CHASE?) the status to be changed to "What?".

Can you settle for a % of the amount and still request them to change the status to "PAID IN FULL"? Is this possible?

Also, would this erase the negative monthly reports that I now have with the credit bureaus over this CHASE CC? Or should I request that too?

Thanks for your help!!!

Joined: 22 Aug 2009 Posts: 20 1294 Magic Points

<Creditor>

<Date>

Dear Sir or Madam:

With regard to account #xxx (OC – xxx), which I do not acknowledge to be a debt I owe, I make the following settlement offer in order to conclude this matter as swiftly as possible. This is not a renewed promise to pay and it is not an agreement unless you sign it and return it or we mutually sign a written agreement document. I maintain my right to seek further proof of this debt.

I will pay you $xx.xx in full satisfaction of this debt. Upon receipt of the payment, your company will report this debt to all three major credit reporting agencies (Equifax, Experian, and TransUnion) as “paid as agreed” and you will remove all references to delinquency on this account or agree to not verify this account upon being contacted by any of the three credit reporting agencies previously mentioned. As the company reporting the status of this account, you have full authority to change the way it is listed with credit agencies. This is a restricted offer. If you agree, sign and return this letter indicating which method you prefer and I will send payment by certified mail or pay by phone. If pay by phone is a preferred method please include information on who to call to make the payment. Please make every effort to follow through within 15 days upon receiving payment to complete this agreement.

The terms of this offer are confidential. I will make no payment without a written agreement.

Sincerely,

Joined: 22 Aug 2009 Posts: 20 1294 Magic Points

Hi,

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CerozattiaRBrantley · Guest 0 Magic Points

Please Help me I am in the position now where I can start paying off my credit. Yet I found there are addresses and items for collections and charge offs that I have never had accounts with ex Credit cards and BMG and I need to know what to do. I have tried to talk to these people and they told me because this is a serious opast due account that the only way to get it removed is to pay it. It's not mine and they keep insisting that it is and trying to make me pay. I have disputed it through the credit bureaus and they won't remove it either. Help

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