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Pay for delete letter: A sample to remove negative items

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Carol
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What is a pay for delete letter?

Pay for delete agreement is normally made with the original creditor or the collection agency to remove an outstanding debt listing from your credit report.

If the name of the creditor or the CA gets listed in your credit report against a particular debt, you should first ask for debt validation by sending a DV letter to the creditor. Once your debt gets validated by them you need to send a pay for deletion letter. A pay for delete letter is sent before you negotiate with the creditor for a repayment plan to pay off the outstanding debt amount. If the creditor agrees to pay for deletion agreement, the negative listing gets removed from your credit report once the debt gets repaid in full. You should always make the pay for delete agreement in writing with the creditor as a proof that they had agreed to delete the negative listing from your report, in case they refuse to remove the negative items from your report after you pay off the debt.

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.
 

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diem



Joined: 20 Feb 2008

Posts: 94
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PostPosted: Wed Feb 20, 2008 7:27 pm    Post subject:
And another:

Quote:
Collection Agency
666 Evil Street
Hades, Hell 00000

Re: Collection Account for Original Creditor
Account #: 00000xxxx
Amount: $25.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my Experian credit report – which omits the last few digits.

In the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage) if you agree to immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.

If you agree to the terms and accept this agreement, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Collection Agency in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

Collection Agency agrees to delete ALL information regarding this account from the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account. If contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such account.

If you agree to the above terms, please prepare a letter on your company letterhead explicity agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act.

Please address all correspondence regarding this account to:

Mr. INeedCreditHelp
123 Any Street
City, State ZipCode
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crackerjack



Joined: 03 Dec 2007

Posts: 171
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PostPosted: Sat Mar 08, 2008 8:58 am    Post subject:
These both are some really good examples of pay for deletion letters, I think it is great that you guys come on here and share this knowledge. Whenever you need to go for pay for deletion agreement you can use the letter of deletion.
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goodnatured



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PostPosted: Sun Mar 09, 2008 12:23 pm    Post subject: pay for delete agreement
I totally agree, we need more samples of letters on pay for delete agreement and someone who is willing to assist the person having the problem either through the forum or through pm if the person does not want to put all their private information out there for everyone to see. I think that people on this site would do just about any thing to help another out.
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charlesarmbruster

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Joined: 14 Mar 2008

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PostPosted: Fri Mar 14, 2008 6:27 am    Post subject:
Well, I don't know if I can spend alot of time answering individual questions, but I will sure try -- we all need good, solid economic help. I counsel clients with credit and liability management for a living. And, I'm sure I can learn alot by counseling on this site.

Bring it on! I'm not the smartest man in the world, but I have resources! Of course, anyone is welcome to PM me, too.
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anthony

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PostPosted: Sat Mar 15, 2008 10:37 am    Post subject:
Thanks a lot for your open help Charles.
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goodnatured



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PostPosted: Sat Mar 15, 2008 11:08 am    Post subject:
Great offer charles, thank you for extending your time to the community like this, hopefully those in need wil take you up on the offer, sometimes people need the individual help one on one.
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jmacus



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PostPosted: Mon Mar 17, 2008 1:26 am    Post subject:
good examples but would this strategy work if they have evidence that it's your debt?
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Laura

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PostPosted: Mon Mar 17, 2008 8:59 am    Post subject:
Yes it does work. A pay-for-delete helps in negotiating with the CA for a lower amount and if they agree, they settle for the amount negotiated and remove the negatives from the report. So you are actually paying for the removal and also the debt when you negotiate for the pay-for-delete.
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carol

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PostPosted: Mon Mar 17, 2008 9:16 am    Post subject:
Whenever you send a letter of deletion for negotiating for pay for deletion agreement, you should always do it by registered post. This is because you need to have a proof that the creditor has agreed to your pay for delete letter which you will require if they do not remove the debt from your report once you pay off the debt in full.
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Mikey
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PostPosted: Thu Mar 20, 2008 1:09 am    Post subject: WHat is certified funds?
What exactly does certified funds mean?
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Morningstar

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PostPosted: Thu Mar 20, 2008 5:35 am    Post subject:
A cashier's check or a money order, for example, but not a personal or business check.
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goodnatured



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PostPosted: Sat Mar 22, 2008 9:24 pm    Post subject:
Would be something that you have actually exchanged the cash for an that you can not recind, like a money order or certified check.
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Morningstar

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PostPosted: Sun Mar 23, 2008 7:48 am    Post subject:
It is possible to rescind money orders or cashier's checks, it is simply not common to do so.
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firebird
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PostPosted: Mon Mar 24, 2008 2:39 am    Post subject: how2 pay debt coll. and dispute the negative judgement?
What if you have a debt that shows up on your credit report, that looks like other fraud credit inquiries that's been happenning to your credit, BUT after an investigation, you find that while the other credit inquiries are indeed fraud, the debt that has been marked a negitive judgement on your report IS actually your own debt?

The error that had happenned was that the bill was never sent to the correct address, but to the previous address you had lived at, 2 months after you had moved!

Had the bill been sent to your proper address, or had there been any attempt to contact you via phone, you would have paid it, as your track record show that you always pay on time, never late.

How would it be possible for you to pay back the amount of debt but at the same time have them remove the negative judgement from your report, because it is an error on their part that you had never received the bill?

Any advice at all would be great!

Thank you!
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