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Pay for Delete Letter Worked for 4 collections!


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18 replies to this topic

#1 nayrb1964

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Posted 26 September 2009 - 10:20 AM

After being irresponsible about my credit for a long time, I recently pulled mine and my wife's credit reports from all three CRA's. I had 3 collections and my wife had four. I sent pay for delete letters to all of them. Understand though that I offered payment in full on all of the alleged accounts. So far the letter has worked on four accounts, two on mine and two on hers. I did amend the letter to reflect my circumstances. Here it is:

Address of Clloector

RE: Your name and supposed Acct# from credit report

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.
Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change 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Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt.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 $195 for payment in full according to your record for the full satisfaction of this account. Within ten days of receipt of the above payment, your company will agree to delete the entry on my credit reports to all of the Credit Reporting Agencies. You further agree to remove all previous notation of delinquency.
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
Address


I just offer this for your consideration and to let you know that this method will work sometimes.



#2 soccrstar

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Posted 26 September 2009 - 10:51 AM

After being irresponsible about my credit for a long time, I recently pulled mine and my wife's credit reports from all three CRA's. I had 3 collections and my wife had four. I sent pay for delete letters to all of them. Understand though that I offered payment in full on all of the alleged accounts. So far the letter has worked on four accounts, two on mine and two on hers. I did amend the letter to reflect my circumstances. Here it is:

Address of Clloector

RE: Your name and supposed Acct# from credit report

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.
Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change 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 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 $195 for payment in full according to your record for the full satisfaction of this account. Within ten days of receipt of the above payment, your company will agree to delete the entry on my credit reports to all of the Credit Reporting Agencies. You further agree to remove all previous notation of delinquency.
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
Address


I just offer this for your consideration and to let you know that this method will work sometimes.


Cool Congrats

what are the names of the collection agencies that you were successful on?

#3 gdtobefree

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Posted 26 September 2009 - 10:57 AM

ARE THESE DEBTS YOURS!
HOW do you know?
Are they past your states SOL

Keep this in mind for the future!!!!!!!!!

A CA will purchase a charged off debt from a creditor for PENNIES on the dollar and try to collect the FULL AMOUNT from YOU the unsuspecting consumer thus making their nasty little selves a profit of 1000% that is how these shisters stay in business!!!!!!!!!!

If you owed a original creditor 250.00 the CA bought that debt in a bulk purchase for only 2.50 and will make YOU pay them 250.00
Do you see the profit you just made for a scumbag!

#4 The Livid One

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Posted 26 September 2009 - 12:20 PM

ARE THESE DEBTS YOURS!
HOW do you know?
Are they past your states SOL

Keep this in mind for the future!!!!!!!!!

A CA will purchase a charged off debt from a creditor for PENNIES on the dollar and try to collect the FULL AMOUNT from YOU the unsuspecting consumer thus making their nasty little selves a profit of 1000% that is how these shisters stay in business!!!!!!!!!!

If you owed a original creditor 250.00 the CA bought that debt in a bulk purchase for only 2.50 and will make YOU pay them 250.00
Do you see the profit you just made for a scumbag!


+1....!!!

#5 Stryker

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Posted 26 September 2009 - 12:29 PM

OP, kudos to your success...

BUT...

I would lean towards what gdb is saying.

ALWAYS DV first. That is a rule that holds true the vast majority of the time. When they validate, then negotiate.

I'd also suggest that in the future, when possible, see if an OC arrangement is possible.

#6 w12345

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Posted 26 September 2009 - 02:46 PM

+1 (gdtobefree); +1 (The Livid One) and... +1 (Stryker)
But, its not all bad: a DELETION is still PROGRESSION so... +1 (soccrstar)

Edited by w12345, 26 September 2009 - 02:48 PM.


#7 TexasinATL

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Posted 27 September 2009 - 08:42 PM

What percentage of your debt did you offer as a settlement? I have some small ones, I'm thinking a PFD might be easiest and quickest.

#8 gdtobefree

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Posted 27 September 2009 - 09:10 PM

What percentage of your debt did you offer as a settlement? I have some small ones, I'm thinking a PFD might be easiest and quickest.



Are they past SOL?

How OLD are they?

The size of them doesn't matter (debt wise, get your minds out of the gutter LOL)

If they don't except your PFD and try something stupid Which they all will try something stupid such as RE AGE IT, charge you fees they are NOT ALOOWED to How would you know?

If you had to take them to court because os the something STUPID that they did, where is your legal process?
What are you going to hand the judge that tells him or her this is an open and shut case in YOUR favor?

WHY would you want to pay someone for GARBAGE!
JDB and CA's buy creditors GARBAGE!!!!!!!!
They buy things that will be thrown away anyway!!!!!!!!!

You want to throw your hard earned money away, can I give you my address? I will gladly take that hard earned money off your hands!!!!!!!!!!!!!

Edited by gdtobefree, 27 September 2009 - 09:11 PM.


#9 Jen23514

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Posted 27 September 2009 - 09:31 PM

OP, kudos to your success...

BUT...

I would lean towards what gdb is saying.

ALWAYS DV first. That is a rule that holds true the vast majority of the time. When they validate, then negotiate.

I'd also suggest that in the future, when possible, see if an OC arrangement is possible.



B)

#10 Why Chat

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Posted 28 September 2009 - 07:54 AM

You did not state in your original post as to the ACTUAL RESULTS of your PFD.

Were the accounts deleted in their entirety??

Or were they shown as a "paid" collection.

It is more than likely that the "balance" of the account will have been sold to ANOTHER CA who will re-insert the unpaid balance on your reports as a NEW collection account. This will be LEGAL as your signed PFD is a new contract, thereby legally "re-aging" your account.

#11 TexasinATL

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Posted 28 September 2009 - 08:16 AM

Well one of mine is definitely NOT past the SOL....it's only about 2.5 years old (I'm in GA). It's actually the biggest, $600, and they have been a PITA. I actually have a LETTER from the OC (an apt complex) saying I owe them $0 and they never sent it to collections. I sent a copy of this letter with a nice dispute to each CRA, and they all came back verified. Where do I go from there? DV?

I also have a few under $200 from phone bills and other misc that are 3-4 years old. DV?

#12 Why Chat

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Posted 28 September 2009 - 09:12 AM

Well one of mine is definitely NOT past the SOL....it's only about 2.5 years old (I'm in GA). It's actually the biggest, $600, and they have been a PITA. I actually have a LETTER from the OC (an apt complex) saying I owe them $0 and they never sent it to collections. I sent a copy of this letter with a nice dispute to each CRA, and they all came back verified. Where do I go from there? DV?

I also have a few under $200 from phone bills and other misc that are 3-4 years old. DV?

Is the one that is reporting ( $600. ) and is 2.5 years old on a lease dispute??. If so the "SOL" on collection accounts on leases is usually no more than a year. It would be in your Ga. statutes under residential leases.

http://whychat.5u.co...s/state-ga.html

As to your "disputing" methods, if it is being reported by a CA and NOT by the OC, then all your "dispute" did is ZILCH.

You need to send a proper DV to the reporting CA ( who probably obtained the information from a data miner and not the OC)

Opt out first and try to get your old addresses deleted before disputing this or any account again.
http://whychat.5u.com/OPTOUTINST.HTML
You can dispute both of these accounts with this;
http://whychat.5u.co...displtrsol.html

Make sure you follow ALL the directions and you can LIST all of the accounts AS THEY APPEAR on the report you are disputing.

If any accounts are verified, and not deleted, you can send the special "SOL"DV to the CA.
http://whychat.5u.com/nottoca.html

Please note that the legal "SOL" on telephone/cell phone bills is 2 years.

#13 startover

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Posted 28 September 2009 - 09:27 AM

If the OP adds a paragraph in his letter that forbids the sale/transfer/continued collection activity on the accounts upon payment, would it be legal binding?

#14 TexasinATL

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Posted 28 September 2009 - 09:31 AM

OK so first I can send a letter to the CRA, disputing the Collection Accounts?

Then I send a DV to the CAs? Is that correct? You're right, it does sound like I am within the SOL. Yes, the $600 thing was from a lease. And the apartments say they NEVER sent it to collections, crazy huh? It was actually on my first apt I had with them (I moved from a one bedroom to a two bedroom).... so it's super insane. How would I owe them $600 and live in the 2nd apartment for a year and never know about it!!


Anyways, thanks for your help, WhyChat!

I did already opt out. Working on the address thing tomorrow. I have to go get a license with my current address (I moved about 2 months ago) to send a copy to the CRAs with my Address Change letter.

So excited to get working on these silly collection accounts!

#15 Why Chat

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Posted 28 September 2009 - 09:52 AM

If the OP adds a paragraph in his letter that forbids the sale/transfer/continued collection activity on the accounts upon payment, would it be legal binding?

No, aside from the fact that there has already been a post on the subject ( LIARS)
http://creditboards....s...24&hl=LIARS
where someone did a PFD with a very similar agreement and the CA CHANGED the entry to a "paid" collection, ( legally) fulfilling their promise to delete the EXISTING ITEM, so they were NOT prohibited from reporting a NEW "item", i.e. a "paid" collection, there is a prohibition for ANY "contract" which a PFD is, from promoting an illegal purpose, prohibiting the sale of the "remainder" of the debt to another CA is "restraint of trade", so even if the paragraph were included , it could not be legally enforced.

Also, a mutually signed PFD is a NEW CONTRACT so another CA can legally purchase the remaining debt from the CA as a NEW collection account and report it for 7 more years.

Edited by Why Chat, 28 September 2009 - 09:54 AM.


#16 Uncle Leo

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Posted 28 September 2009 - 09:59 AM

ARE THESE DEBTS YOURS!
HOW do you know?
Are they past your states SOL

Keep this in mind for the future!!!!!!!!!

A CA will purchase a charged off debt from a creditor for PENNIES on the dollar and try to collect the FULL AMOUNT from YOU the unsuspecting consumer thus making their nasty little selves a profit of 1000% that is how these shisters stay in business!!!!!!!!!!

If you owed a original creditor 250.00 the CA bought that debt in a bulk purchase for only 2.50 and will make YOU pay them 250.00
Do you see the profit you just made for a scumbag!

Agree about most of this.

Are these debts yours? Nine times out of ten I'd agree, but you usually know if you defaulted on $250 XYZ Company if a CA/JDB sends a letter about $250 for XYZ Company. Depending on the circumstances, I'd do this (PIF-PFD) for a debt I know I owe just to get it off my reports and save the frustration. If it's worth it to the consumer, and it's done right by both sides, I see nothing wrong with it.

Are they past SOL? Barring seriously extreme circumstances, i.e. needing a mortgage right now, etc., I'd never PIF an SOL account, though I might PFD one for a much reduced amount.

They paid PENNIES on the dollar: So what? This is where standard CB wisdom loses me on this subject. What they paid is completely 100% irrelevant. I owe what I owe and what the OC sold it for is not my business. It's part of the free market, and my original contract does not absolve me of my debt just because it was sold at a discount later on down the road.

By this reasoning, if I were to find a plasma tv in great condition at a garage sale for $20, I'd be morally wrong to flip it and get $500 because I only paid "pennies on the dollar" myself to begin with. Don't get me wrong, doesn't mean you can't negotiate a lower pay-off, just as a buyer would be fine to try and negotiate that plasma tv down to $300, but the single fact that they paid a pittance is neither here nor there.

#17 startover

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Posted 28 September 2009 - 10:20 AM

If the OP adds a paragraph in his letter that forbids the sale/transfer/continued collection activity on the accounts upon payment, would it be legal binding?

No, aside from the fact that there has already been a post on the subject ( LIARS)
http://creditboards....s...24&hl=LIARS
where someone did a PFD with a very similar agreement and the CA CHANGED the entry to a "paid" collection, ( legally) fulfilling their promise to delete the EXISTING ITEM, so they were NOT prohibited from reporting a NEW "item", i.e. a "paid" collection, there is a prohibition for ANY "contract" which a PFD is, from promoting an illegal purpose, prohibiting the sale of the "remainder" of the debt to another CA is "restraint of trade", so even if the paragraph were included , it could not be legally enforced.

Also, a mutually signed PFD is a NEW CONTRACT so another CA can legally purchase the remaining debt from the CA as a NEW collection account and report it for 7 more years.



Thanks Why Chat for your explanation. However I'm a little confused on your "promoting an illegal purpose" reasoning. If prohibition of the sales of a collection account can be interpreted as "restraint of trade" and thus becomes illegal and void, then what about all the "non disclosure" and "non action" style of contracts? Say if you and I were to sign something which prohibits you from telling you a 3rd party something, isn't that against the "freedom of speech"? What about a contract that prohibits a party from buying or using a competitor's product (say sports endorsement, or computer chips etc)?

Edited by startover, 28 September 2009 - 10:22 AM.


#18 Why Chat

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Posted 28 September 2009 - 11:08 AM

If the OP adds a paragraph in his letter that forbids the sale/transfer/continued collection activity on the accounts upon payment, would it be legal binding?

No, aside from the fact that there has already been a post on the subject ( LIARS)
http://creditboards....s...24&hl=LIARS
where someone did a PFD with a very similar agreement and the CA CHANGED the entry to a "paid" collection, ( legally) fulfilling their promise to delete the EXISTING ITEM, so they were NOT prohibited from reporting a NEW "item", i.e. a "paid" collection, there is a prohibition for ANY "contract" which a PFD is, from promoting an illegal purpose, prohibiting the sale of the "remainder" of the debt to another CA is "restraint of trade", so even if the paragraph were included , it could not be legally enforced.

Also, a mutually signed PFD is a NEW CONTRACT so another CA can legally purchase the remaining debt from the CA as a NEW collection account and report it for 7 more years.



Thanks Why Chat for your explanation. However I'm a little confused on your "promoting an illegal purpose" reasoning. If prohibition of the sales of a collection account can be interpreted as "restraint of trade" and thus becomes illegal and void, then what about all the "non disclosure" and "non action" style of contracts? Say if you and I were to sign something which prohibits you from telling you a 3rd party something, isn't that against the "freedom of speech"? What about a contract that prohibits a party from buying or using a competitor's product (say sports endorsement, or computer chips etc)?

You are talking apples and oranges. A non disclosure agreement as part of an employment contract is binding. If it were to be violated, the parties injured could sue for breach of contract.

If a CA "promises" to not transfer any data on an account or to resell the balance, they COULD be sued for breach of contract, however their DEFENSE ( according to the available case law I have seen) has been that the contract provision is a "restraint of trade" and therefore not an enforceable contract clause.

There is , IMO no intrinsic illegality in anything the scam scum CA's do, unless and until they are either sued or held accountable by Federal or State authorities. Even if a lawsuit is won against them for "violations" of the FDCPA or FCRA it is more than likely that there is no criminal penalty involved. ( although I think the whole lot of them should be held at Gitmo as consumer terrorists)

#19 Jen23514

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Posted 28 September 2009 - 11:28 AM

Even if a lawsuit is won against them for "violations" of the FDCPA or FCRA it is more than likely that there is no criminal penalty involved. ( although I think the whole lot of them should be held at Gitmo as consumer terrorists)


:angry: :huh: :) :) :rofl:




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