Pay for delete letter: Negotiate to remove negative listing

Joined: 17 Jul 2006 Posts: 1240 28942 Magic Points

Hi CerozattiaRBrantley,

Well, you have already disputed the item with the CRA, but they are not helping you. Then, I believe you need to write a debt validation letter to the CA asking them to prove that this account listing belongs to you. If they are unable to prove it within 30 days, as you are saying that it does not belong to you, then you are no more liable to pay any debt. Send the validation letter through a certified mail so that you get back the return receipt. Once, it becomes invalid, then it has to be removed from the credit report.

Ryanissad · Guest 0 Magic Points

Hello,

Firstly thank you for putting this site together and the various sources of information/problem sharers. So I didn't realize I still had an outstanding balance with my CapitalOne credit card as I moved in the past year. I found out today that a balance that was originally just over $1000 has ballooned to $2600. Somehow the CA found my parent's cell phone number and called looking for me as my number changed. Nice, huh? Anyway I called the CA back and eventually agreed to pay the full amount in installments beginning at the end of this month as I have extremely limited funds, but I want to minimize the damage to my credit report. Is there any point in sending a PFD letter to the CA as I've read all 13 pages, and it seems the CA cannot remove the OC entry?? Could someone elaborate on this as I'm not exactly sure what the difference is in a credit report? Capital One (the OC) automatically transferred me to the CA when I called them. Is there any way to get this totally off my credit report? What should my next step be: a) PFD letter, b) debt validation letter, c) just pay it in full as scheduled without any written correspondence, or d) other?

Depressed,

Ryan

Joined: 01 Sep 2009 Posts: 34 756 Magic Points

Is there a sample letter that I can send to the collection agency showing the payment arrangements that I'm offering? I've seen the pay to delete sample letter but i'm not sure how to modify it to show that.

I want to tell them that I will make arrangements to pay $7 per their settlement. They said the settlement was good until 8/31 but the debt had been validated by them with my ex-husband and my name. What you recommend that I say in regards to the interest? I want to put in there that I will pay the loan remainder because my ex is MIA but nothing more than that.

Sample Pay for delete letter / Pay for deletion letter:

Name of Collection Agency
Address of collection agency

Re: Collection Account for Original Creditor Account Number
Amount: $50.00

Dear Collection Officer,

This is for your information that the validity of the debt has been disputed. I am not aware of the account number and neither did you inform me regarding the existence of this account.

I am willing to pay this account IN FULL (or a settlement percentage, whichever is feasible) if you agree to immediately delete the account from the credit reporting agencies (namely Equifax, TransUnion and Experian) that you have reported to. My sole purpose is to get the item removed from my file. It should not be interpreted as recognition of the debt as valid or acknowledgment of liability for the same.

Incase you accept the terms of the agreement, the certified amount of $50 will be sent to the collection agency provided there is complete deletion of any reference to the debt from my file, from all the credit bureaus that you have reported to. As the full amount demanded will be paid back there should not be any waiting phase regarding the deletion of the items from the reporting bureaus.

Your agency should be deleting all information regarding the account from my credit files within 10 calendar days from the receipt of the payment as mentioned in the agreement. The terms of the agreement will not be discussed with anyone but your client on this account. No third party should be informed if contacted. No acknowledgment of debt or any kind of payment or settlement should be informed if contacted by the Reporting Agencies.

Following the acceptance of the agreement please prepare a letter on your company letter head unambiguously agreeing to the mentioned terms and conditions as the above settlement offer and have it signed by the authorized signatory of your agency. The letter will imply a legal contract, enforceable under my state laws.

In case I do not receive any approval letter within 15 days of your receipt of this letter I will withdraw this offer and request debt validation as per the Fair Debt Collection Practices Act.

Please communicate regarding this account to the address mentioned below.

Your Name
Your Address
State Zip Code.

Joined: 01 Sep 2009 Posts: 34 756 Magic Points

Here's the PFD that I'm sending to Merchants Credit Guide. Feel free to use or modify it if you like. I've used bits from 2 letters and added my own part about payments.

Dear Collection Officer,

This is for your information that the validity of the debt has been disputed. It is not to be construed as an acknowledgment of my liability for this debt in any form.
I will pay your company the amount of $6,000 in monthly installments of $100 per month as full settlement of this account. The payment made on 8/17/2009 of $120.00 will show as a payment. If you accept this agreement, I will send you a money order or certified cashier’s check for the settlement amount of $100.00 per month in exchange for a full deletion of all references regarding this account from my credit profile and full satisfaction of the debt.
This agreement is binding and will be void should you not hold up to your end of the agreement. Furthermore the debt will be deleted from my credit profile at all three credit bureaus, or the bureaus your company regularly reports to in the course of doing business. It should not be interpreted as recognition of the debt as valid or acknowledgment of liability for the same.

Incase you accept the terms of the agreement, the certified amount of $50 will be sent to the collection agency provided there is complete deletion of any reference to the debt from my file, from all the credit bureaus that you have reported to. As the full amount demanded will be paid back there should not be any waiting phase regarding the deletion of the items from the reporting bureaus.

Your agency should be deleting all information regarding the account from my credit files within 10 calendar days from the receipt of the payment as mentioned in the agreement. The terms of the agreement will not be discussed with anyone but your client on this account. No third party should be informed if contacted. No acknowledgment of debt or any kind of payment or settlement should be informed if contacted by the Reporting Agencies.

Following the acceptance of the agreement please prepare a letter on your company letter head unambiguously agreeing to the mentioned terms and conditions as the above settlement offer and have it signed by the authorized signatory of your agency. The letter will imply a legal contract, enforceable under my state laws.

In case I do not receive any approval letter within 15 days of your receipt of this letter I will withdraw this offer and request debt validation as per the Fair Debt Collection Practices Act.

Please communicate regarding this account to the address mentioned below.

Joined: 01 Oct 2009 Posts: 2 49 Magic Points

i was the victim of id theft bofa sold accounts but is still reporting. fraud dept refused to declare fraud even though police report and ftc number provided with letters from other cards. CC agencies deleted debts, how should i proceed or ignore it since charge offs so old? I have sent certified letters to CRA's with police report and ftc # requesting they block creditor from reporting. My attorney is reluctant as bofa not attempting any collection, no debt owed.

Joined: 01 Sep 2009 Posts: 34 756 Magic Points

Joined: 01 Sep 2009 Posts: 34 756 Magic Points

As of today, I have not seen any letter back from Merchants Credit Guide. Should I send another letter?

Joined: 03 Nov 2007 Posts: 3927 10 Magic Points

You can if you have not recieved a response, but make sure that you send it certified mail, return reciept requested that way they can not say that they did not recieve it.

Make sure that you keep copies for yourself so that you can present them to anyone who attempts to collect the debt in the future.

Joined: 01 Sep 2009 Posts: 34 756 Magic Points

Joined: 06 Nov 2009 Posts: 1 16 Magic Points

I was not aware that this type of an arrangement was even available!! Thank you for posting this. I feel like a more empowered consumer now!

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trishgucci · Guest 0 Magic Points

I just received a letter stating that I have bad debt due to unpaid traffic tickets. Does this same concept apply for my situation? I need to get the tickets paid off through the collection agencies so that my license does not get suspended, should I use the pay for delete letter or just pay them right away?

NeedHelp · Guest 0 Magic Points

Hi All,

I already agreed to pay two business accounts that were suddenly reported on my personal credit without any warning. Is there any hope of having these removed off my personal credit account? My score has been sunk overnight by at least 125 pts.

NeedHelp · Guest 0 Magic Points

Hi All,

I already agreed to pay two business accounts that were suddenly reported on my personal credit without any warning. Is there any hope of having these removed off my personal credit account? My score has been sunk overnight by at least 125 pts.

Joined: 11 Feb 2009 Posts: 4 164 Magic Points

What if they don't remove it within 10 days? What then?

TimM · Guest 0 Magic Points

I have a conf. signed on a "pay for delete" with a CA. I paid have proof and the info was supposed to be updated on the 2oth. it is the 29th no change on my report. still showing unpaid. what do I do/

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