Pay for delete letter: Negotiate to remove negative listing

todd · Guest 0 Magic Points

i have deleted items on a statement from transunion that are still on my credit as opened. what do i do

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Todd,

What you can do is dispute the item first with the creditor or the collection agency. You can send a 623 dispute letter to the creditor or the collection agency through certified mail.

Hope this helps.

Regards,

Aaron

Lisa · Guest 0 Magic Points

The CA that holds my account has already offered a settlement amount I am willing to pay. What type of letter should I ask for before or after paying the settlement amount.

Lisa · Guest 0 Magic Points

Add'l information regarding the previous post: This is a judgement

The CA that holds my account has already offered a settlement amount I am willing to pay. What type of letter should I ask for before or after paying the settlement amount.

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Lisa,

First and foremost, you need to appear in court as there is the judgment, though the collection agency (CA) has offered a settlement. Before going in for the settlement, you should request them to provide you with a written copy of the settlement.

Along with the settlement, you can request the CA to agree to a "Pay for delete" agreement. Send the CA a PFD letter. You will find a sample PFD letter at http://www.creditmagic.org/repair/pay-for-delete.html . With PFD agreement, your account will get reported as either "Paid in full" or "Paid as settled".

Hope this helps.

Regards,

Aaron

Rusty · Guest 0 Magic Points

Dear Carol,
I spoke with the collection agency before I viewed your website. They have made me an offer and have given me 10 days to pay. Did I blow it by allowing them to make me an offer? When I asked them to take the collection off of my credit report, they said that they couldn't because they didn't purchase the debt, however, on my credit report it is listed under their name.
Thank you!

Rusty · Guest 0 Magic Points

By the way, according to the credit report, the date of last activity with original creditor is 6/1/2006. The statute of limitations in California is 4 years...

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Rusty,

Can you be more clear on what you need to know?

Thanks,

Aaron

MIRNA · Guest 0 Magic Points

What percentage would be fair to offer to seattle and old account? how much is right to negotiate?

I am wanting to seattle some accounts but not for the full amount..just not sure how much to offer..

let say owed 650 from 2004.. what is the

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Mirna,

Debt settlement can lower your outstanding debt amount by 40-60%. However, it also depends on the creditor or the collection agency with whom you want to settle. If you think it won't be possible for you to pay high amount, you can make a copy of your monthly income and expenditure, and attach it with the settlement letter to be sent to the creditor or collection agency.

For more details on debt settlement you can refer http://www.creditmagic.org/blog/2009/04/06/debt-settlement-the-way-it- works-in-repaying-your-debt/ .

Hope this helps.

Regards,

Aaron

DEE · Guest 0 Magic Points

IS THEIR A LETTER FOR EXPLAINING MY NON PAYMENT OF MEDICAL BILLS TO A HOME LENDER?

Joined: 08 Feb 2010 Posts: 2675 48566 Magic Points

Hi Dee,

I think, you need to send them a hardship letter if you think that you are facing problems paying bills. However, can you tell me why would you send letter for the medical bills to a home lender?

Thanks,

Aaron

EdwardScott · Guest 0 Magic Points

How effective is this action and can you recommend/provide other forms of Pay for Delete letters. I am seriously contemplating to take this approach with two creditors with whom I have charged-off credit cards. One with a balance of over $15K including interest. and the other just over $1,200.00 The originial balance was $12K and I recently recieved a letter via a collection agency asking for $15K. I am interested in working directly with the OC (Original creditor) do you agree with this approach? Of course this will only be done once I have validated the debt which I know are valid debts. Any advice or recommendations you can provide is immensely appreciated.

Joined: 16 Jan 2010 Posts: 5 60 Magic Points

Since the basic purpose of the internet is to share the knowledge and to communicate with each other, I can say that blogs and forums are playing one of the vital role in sharing the knowledge and to communicate with each other.

kellykdawn · Guest 0 Magic Points

Hi Carol, I am so thankful for this website. The information has been so helpful to me! I have some questions for you. I have a judgement against me on my credit report for $2600 from Atlantic Credit and Finance. They sued me a couple years ago, I was served papers, I never went to court. I had contacted this collection agency prior to being sued and I attempted several times to reconcile this debt with a payment plan. They refused and required me to pay in full. I never could pay in full so I ceased all communication efforts. Now, I am trying to clean up my credit report and I would like to get this deleted from both my credit report and the public filing section of my credit report. I am confused as to what I should do and in what order. I live in Michigan and I know that this state has a six year statue of limitations, but does that apply to this? And if so how do I calculate the six year limitation in regards to this situation? Secondly, should I first send a Dispute of Validation letter to the collection agency? I am assuming that I legally gave up the right to dispute this when I didnt show up in court. Is this true? Thirdly, Should I send a pay for delete letter to this company? And if I should, should I offer to pay in full right off the bat or should I lowball the offer and see what happens? How do I deal with the court system as far as deletion goes? Can I get it removed from both court records and my credit report? Thanks so much, Kelly

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