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Settlement offer and pay to delete

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Subject: Settlement offer and pay to delete
Posted on Wed Jun 15, 2011 6:08 pm  

I owe a bill for $575.00 I was given a settlement offer of $287.00 from a CA. If I pay this amount, will it be taken off of my credit report? I have read on this site about a pay to delete letter but I know nothing about that. Do I have to send the letter first before I accept their offer? I would like to accept the offer and get it taken care of. Thanks for any help.

Joined: 10 Jun 2011
sallynachelle's page
Posts: 1023

6864 Magic Points

Subject: Settlement offer and pay to delete
Posted on Thu Jun 16, 2011 7:01 am  

Negative items will remain on your credit report at least for 7-10 years. You may request the CA to remove the negative items from your credit report after repaying the debt. You can also make a written request to the CA for a pay for delete agreement via certified mail with a return receipt request. If they agree with your proposal, then they can remove the negative listings from your credit report after repaying the debt. No, at first, you will have to accept their offer. After that, you can send the letter to the CA. The following link may help you to write such kind of a letter:


Joined: 23 Apr 2013
adamsarthur87's page
Posts: 74
Location: Boston

439 Magic Points

Posted on Tue May 14, 2013 2:22 pm  

Pay for delete or PFD refers to the agreement between you and your creditor/collection agency to repay a debt and in return they'll oblige you with the removal of the negative item from your credit report.

Joined: 12 Sep 2013
rblack's page
Posts: 40

215 Magic Points

Posted on Thu Oct 03, 2013 11:07 am  

Once you settle your debt, the creditors may report the account as "settled" instead of "paid in full." This remark may blemish your credit report. So, request the creditors to report the account as "paid in full" to the credit bureau.

Joined: 02 Jun 2014
Shierra89's page
Posts: 4

26 Magic Points

Posted on Mon Jun 02, 2014 2:30 pm  

Rblack. Thanks for that tip. I did not know that there was a difference between "Settled" and "Paid in full". I am most curious though, do you know how many points in the your credit score will drop if it reads "settled"?

Joined: 28 Jul 2014
LucyCowlergni's page
Posts: 7

64 Magic Points

Posted on Mon Jul 28, 2014 6:10 am  

You have to approach accurately reported negative information differently. Credit bureaus won’t remove accurate, verifiable information even if you dispute it, so you may have to negotiate to have some items removed from your credit report. A pay for delete offer is a technique you can use with delinquent accounts. Basically, you offer to pay the account in full in exchange for having the negative details removed from your credit report. Some creditors will take you up on the offer and others won’t.
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