Where or how can you get a pay for delete agreement/letter?

Question

I am told this is the only thing that can help your corrections and credit score so where or how who from etc... do I get this from. Any suggestions, how long does it take them to respond to you?

Answer 1

Below is a sample of a pay for deletion letter. You should hear back from the collection agency within 10 days.


Dear Collection Manager:

It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. I can save us both some effort & time by "Settling the debt out".

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that your agency regularly purchases debts in the course of doing business.

Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change or remove that listing at any time as the source reporting the debt.

I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that you will report the debt as mentioned below.

While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

Please do not quote to me that you are unable to change or remove the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt.

My goal is to arrange a term acceptable to both us since this debt is questionable.

I will pay your company the amount of $xx as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to completely remove any entries on my credit report.

If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation.

Upon receipt of this signed acknowledgment, I will immediately mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made and the offer will be void.

Name of Creditor:

Signature of company officer :

Date:

Sincerely,

Your Name

*DO NOT* sign your name!

Answer 2

PLEASE DO NOT SEND the long winded letter posted there are way to many things that you don't need in the letter and frankly are just assinine.

Shortened you simply say you have found the debt on your credit report and instead of a lengthy research process to determine if it is even yours you will pay them (pick a percentage 55 ish) if they will remove the information from your credit reports after receiving the payment.

Please sign the enclosed copy of this letter indicating you accept this agreement and return it to me and I will make payment in certified funds upon receipt.

Then make a space at the bottom for a signature.

Answer 3

I agree with TPJ. Don't sent that long winded letter. I couldn't even make it past the 2nd paragraph. There are a lot of sites that create these sample letters that throw in everything including the kitchen sink.

The folks receiving these letters will take your letter more seriously without all the huff and fluff. Simple state:

"In exchange for deleting the item from my credit report, I will pay $X (offer about half). This is not an admission that the debt is mine but an expediency to clear my credit report.

Upon receipt of your signed agreement to this letter, I will send my check for $X. This offer is only good till ___ (date -10 business days)."

After your signature, add:

"As an authorized agent for the company below, I accept the above terms.
Signed ______________ Date _____________
Company __________________________ "

Answer 4

Accounts Recievable is the agency, Premier Bank is the origional client, but this letter will not work, if you incurred the debt, the only way to get rid of it, without paying it, is bankruptcy. These letters are intended to get rid of wrongful charges and credit comments.

Answer 5

the letter bdancer222 did for you is excellent.

validation is a ployed used much to often as a stalling tactic. if you know the debt is your, it is not out of SOL for collections for your state, and you want to pay it then skip the validation (which is an excellent tool if you have a debt on your reports that is not yours) and send the letter.

Answer 6

Don't do anything until you validate the debt

www.creditinfocenter.com