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Pay for delete letter: Negotiate to remove negative listing

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Carol
Author:
Community Contributor
What is a Pay for delete letter?

A Pay for delete agreement is normally made with the original creditor or a collection agency (CA) 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 with a particular debt, you should first ask for debt validation by sending a Debt Validation (DV) letter to the creditor. Once your debt gets validated by the creditor, you need to send a Pay for delete letter.

A Pay for delete letter is sent as part of your negotiations with your creditor for a repayment plan to pay off your outstanding debt. If the creditor agrees to a Pay for deletion agreement, the negative listing gets removed from your credit report once the debt has been repaid in full. You should always get the Pay for delete agreement in writing so you have proof that the creditor agreed to delete the negative listing from your report, if they refuse to remove the negative item 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 Sir or Madam,

This is for your information that I am disputing validity of the debt referred to above. I am not aware of the account number and you have not informed me of 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, and validated this account. My sole purpose is to get this item removed from my file. This letter should not be interpreted as recognition of the debt or acknowledgment of liability for the debt.

If you accept the terms of this agreement, the certified amount of $50 will be sent to your collection agency provided there is complete deletion of any reference to the debt from my file on all the credit bureaus that you have reported to, and the debt is validated. As the full amount demanded will be paid back, there should not be any waiting period to delete this item from the reporting bureaus.

Your agency should delete all information regarding the account from my credit files within 10 business days from the receipt of the payment, as mentioned in this agreement. The terms of this agreement will not be discussed with anyone but the original creditor. No third party will be informed if contacted and no acknowledgment of the debt, any kind of payment, or settlement will be discussed if I am contacted by the Reporting Agencies.

Following the acceptance of the agreement, please prepare a letter on your company letter head unambiguously agreeing to the aforementioned terms and conditions and have it signed by your agency's authorized signatory. This letter will imply a legal contract, enforceable under my state law.

If I do not receive an approval letter within 15 days of your receipt of this letter, I will withdraw this offer.

Please communicate regarding this account to the address mentioned below.

Your Name
Your Address
State Zip Code
 

Ask question to Carol
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diem



Joined: 20 Feb 2008

Posts: 82
170 Magic Points
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: 147
7 Magic Points
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



Joined: 03 Nov 2007

Posts: 3927
10 Magic Points
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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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
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charlesarmbruster

charles.armbruster

Joined: 14 Mar 2008

Posts: 27
1355 Magic Points
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

anthony

Joined: 31 Jul 2006

Posts: 516
13571 Magic Points
PostPosted: Sat Mar 15, 2008 10:37 am    Post subject:
Thanks a lot for your open help Charles.
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goodnatured



Joined: 03 Nov 2007

Posts: 3927
10 Magic Points
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.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa
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jmacus



Joined: 17 Mar 2008

Posts: 5
179 Magic Points
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

Laura

Joined: 21 Jun 2007

Posts: 1334
35466 Magic Points
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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Regards,
Laura.
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carol

carol

Joined: 27 Jun 2006

Posts: 1307
29555 Magic Points
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.
_________________
Keep in touch
Carol
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Mikey
Guest





0 Magic Points
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

Morningstar

Joined: 17 Apr 2007

Posts: 582
11 Magic Points
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



Joined: 03 Nov 2007

Posts: 3927
10 Magic Points
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.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
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Morningstar

Morningstar

Joined: 17 Apr 2007

Posts: 582
11 Magic Points
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
Guest





0 Magic Points
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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