Jump to content




Welcome to CreditBoards!


Sign In 

Create Account
Welcome to CreditBoards! Like most online communities, you must register to post in our community, but don't worry - this is a simple process requiring minimal information for you to sign up. Be a part of CreditBoards by signing in or creating an account.
  • Start new topics and reply to others
  • Subscribe to topics to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
 
Guest Message by DevFuse

Read These Items!

  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.

Photo

Pay for Delete/Goodwill letter Success rate


  • Please log in to reply
12 replies to this topic

#1 ladyz2003

ladyz2003
  • Members
  • 58 posts

Posted 05 December 2011 - 07:56 PM

I've been reading and taking notes from many of the posters on here and have had some success in improving my credit report. I was just wondering how many have had success with goodwill letters and pay for delete letters. The reason I ask is awhile back I sent a pay for delete letter to a CA and got a pretty rude response back. They basically said they've never heard of such and they are not allowed delete the information on a credit report once its on there. I haven't sent one since.

Thanks



#2 beli

beli
  • Members
  • 8,922 posts

Posted 05 December 2011 - 08:46 PM

I have four rules for doing pfd's.

1. Has the CA ever violated FCRA/FDCPA?
2 Did they ever provided proper validation (if you disputed)
3 Only work with upper/middle management of the CA,they have more power to do these things then 1st level CSR's who will generally not have the authority to do the transaction. Also make sure it's addressed to someone specific in upper/middle management.
4 Is the debt within SOL(Legal) for your state, and can you afford to still pay it if they decide to not take the Pfd and sue?

I'd say about a 1/3 of my credit repair was pfd's. (Most of them were small) The largest one I had was around 700 dollars. The most difficult one for me to work with was a valid payday loan. They were a subsidy of a parent company. It took me about a year off/on searching for Email executives because it was somewhat of a common name so I had a hard time finding them. Once I did, they were more than willing to do the pfd.

When you do contact upper/middle management be nice, and state an offer you can really afford. It also helps if you put a date that you know you can pay it by. I usually keep the letters short/sweet and to the point. If you think it will help to add why the debt got there, then use it. I think my success was that I offered the full amount since most of my debt was under 700 and well within SOL.

Also all pfd's I did were for the full amount of the debt because of #3 (this doesn't happen w/ everyone.. I just thought I stood a better chance if I offered the full amount. The only one I didn't was for First Premier but even then I did the card balance, minus late fees.. however that one wasn't a Pfd...I just wanted to settle the account.

Ohh and 99% of my pfd's were done by email contact. The others were sent certified mail.. so I could track when they got it and how long it took them to respond.

Edited by beli, 05 December 2011 - 08:49 PM.


#3 ladyz2003

ladyz2003
  • Members
  • 58 posts

Posted 05 December 2011 - 09:23 PM

Thanks. Most of mine are within SOL (I'm in KY), they have validated and are pretty small(under $400). I can offer the full amount, which is what I did with the first one. I wanted to try sending some again, but because of the response I received I became hesitant in sending anymore.

#4 BeachDweller

BeachDweller

    Tuff Luv

  • Members
  • 2,658 posts

Posted 06 December 2011 - 06:06 AM

Some people claim they get pay-for-delete offers accepted at a high rate, too high a rate to seem credible. It's much more likely to use the debt validation and dispute process removes far more negative trade lines; it's also much slower. People need to realize it takes a long time to get into debt problems and will take just as much time or longer to get them removed. If debts are within the statute of limitations I can see no reason why a creditor or collection agency would even consider a PFD offer.

Goodwill letters usually occur for paid off accounts and are geared toward original creditors. If depends what one asks in a goodwill letter. If you want to have a few late payments removed on a paid loan, it's easier than having negative accounts with no positive attributes removed.

#5 beli

beli
  • Members
  • 8,922 posts

Posted 06 December 2011 - 02:10 PM

Some people claim they get pay-for-delete offers accepted at a high rate, too high a rate to seem credible. It's much more likely to use the debt validation and dispute process removes far more negative trade lines; it's also much slower. People need to realize it takes a long time to get into debt problems and will take just as much time or longer to get them removed. If debts are within the statute of limitations I can see no reason why a creditor or collection agency would even consider a PFD offer.

Goodwill letters usually occur for paid off accounts and are geared toward original creditors. If depends what one asks in a goodwill letter. If you want to have a few late payments removed on a paid loan, it's easier than having negative accounts with no positive attributes removed.

I can give ya copies of my emails if you'd like. I have everything saved. I think with mine, since I offered full amount execpt with FP, it made a difference. Like I said if you stick to upper management with whom your dealing with you're more than likely to get a favorable response then dealing with 1st level CSR's that can't do crap other than try and take money from you. The other key is to send it to someone specific, not just general headquaters address.

I also used the debt validation/dsipute process on ones I did not do PFD if you notice I said about a 3rd my credit repair was PFD's. For those that were reporting inaccurately etc I used dispute/validation for those and they didn't get a dime of my money.

Edited by beli, 06 December 2011 - 02:12 PM.


#6 dvd

dvd
  • Members
  • 779 posts

Posted 06 December 2011 - 04:02 PM

I have four rules for doing pfd's.

1. Has the CA ever violated FCRA/FDCPA?
2 Did they ever provided proper validation (if you disputed)
3 Only work with upper/middle management of the CA,they have more power to do these things then 1st level CSR's who will generally not have the authority to do the transaction. Also make sure it's addressed to someone specific in upper/middle management.
4 Is the debt within SOL(Legal) for your state, and can you afford to still pay it if they decide to not take the Pfd and sue?

I'd say about a 1/3 of my credit repair was pfd's. (Most of them were small) The largest one I had was around 700 dollars. The most difficult one for me to work with was a valid payday loan. They were a subsidy of a parent company. It took me about a year off/on searching for Email executives because it was somewhat of a common name so I had a hard time finding them. Once I did, they were more than willing to do the pfd.

When you do contact upper/middle management be nice, and state an offer you can really afford. It also helps if you put a date that you know you can pay it by. I usually keep the letters short/sweet and to the point. If you think it will help to add why the debt got there, then use it. I think my success was that I offered the full amount since most of my debt was under 700 and well within SOL.

Also all pfd's I did were for the full amount of the debt because of #3 (this doesn't happen w/ everyone.. I just thought I stood a better chance if I offered the full amount. The only one I didn't was for First Premier but even then I did the card balance, minus late fees.. however that one wasn't a Pfd...I just wanted to settle the account.

Ohh and 99% of my pfd's were done by email contact. The others were sent certified mail.. so I could track when they got it and how long it took them to respond.



Were your PDF's for medical/utilities bills or credit card/revolving or both?

#7 beli

beli
  • Members
  • 8,922 posts

Posted 06 December 2011 - 07:11 PM

I only had one small medical bill (less than 100)and the amount was correct in what they were trying to collect so I didn't dispute it or do Hipaa process. However, if your situation is different than that, I'd strongly suggest Hipaa process.

The other ones were for Sprint/payday loan and a few other ones I forgot. All were being collected on by Collection agencies except the payday loan. The only CC was for FP and the CA wasn't reporting at the time. I called FP to settle the account myself and they told me to call them. So I made sure they were suppose to be collecting on it first then made the offer of the CC balance minus any late fees/over limit fees and that they (the Ca) cannot report the account to my credit report at any time. Also sometime during the negotiation process they assigned the debt to another collection agency so I also added that neither them nor another collection agency on their behalf report to my credit report. So far they have abided by that, and its going on two years now.

However before paying anyone make sure they have the right to collect on the debt and they haven't sold it ect.

Edited by beli, 06 December 2011 - 07:37 PM.


#8 ladyz2003

ladyz2003
  • Members
  • 58 posts

Posted 07 December 2011 - 08:57 PM

Thanks, some of mine are medical bills and I found the Hipaa process the other day so I'm going to try that with those.

#9 blindbudsmoker

blindbudsmoker
  • Members
  • 77 posts

Posted 07 December 2011 - 11:59 PM

Thanks, some of mine are medical bills and I found the Hipaa process the other day so I'm going to try that with those.


I am like 1/40 probably on PFD. The only one that i got actual letter head PFD wasn't even showing on my report but figured pay it before it started reporting.

#10 momofthree2011

momofthree2011
  • Members
  • 3 posts

Posted 04 April 2012 - 04:06 PM

I have four rules for doing pfd's.

1. Has the CA ever violated FCRA/FDCPA?
2 Did they ever provided proper validation (if you disputed)
3 Only work with upper/middle management of the CA,they have more power to do these things then 1st level CSR's who will generally not have the authority to do the transaction. Also make sure it's addressed to someone specific in upper/middle management.
4 Is the debt within SOL(Legal) for your state, and can you afford to still pay it if they decide to not take the Pfd and sue?

I'd say about a 1/3 of my credit repair was pfd's. (Most of them were small) The largest one I had was around 700 dollars. The most difficult one for me to work with was a valid payday loan. They were a subsidy of a parent company. It took me about a year off/on searching for Email executives because it was somewhat of a common name so I had a hard time finding them. Once I did, they were more than willing to do the pfd.

When you do contact upper/middle management be nice, and state an offer you can really afford. It also helps if you put a date that you know you can pay it by. I usually keep the letters short/sweet and to the point. If you think it will help to add why the debt got there, then use it. I think my success was that I offered the full amount since most of my debt was under 700 and well within SOL.

Also all pfd's I did were for the full amount of the debt because of #3 (this doesn't happen w/ everyone.. I just thought I stood a better chance if I offered the full amount. The only one I didn't was for First Premier but even then I did the card balance, minus late fees.. however that one wasn't a Pfd...I just wanted to settle the account.

Ohh and 99% of my pfd's were done by email contact. The others were sent certified mail.. so I could track when they got it and how long it took them to respond.



#11 momofthree2011

momofthree2011
  • Members
  • 3 posts

Posted 04 April 2012 - 04:11 PM

Can you give me some insight on how you worded your PFD in the payday loan situation? I have a payday loan that I more than paid off with rollovers - I couldn't break out of the trap so I defaulted and asked for an alternative payment arrangement. However, I never received a response and was sent to their in-house collection agency. I have sent multiple DV letters asking for payment history and a copy of the contract (as it was done online and I know they don't have my signature on file). They responded by just sending one page notice responses saying they verified the information, etc. I filed a complaint with the attorney general's office hoping to at least get my hands on a copy of the contract -- they responded to the AG's office (who forwarded on to me) and included a copy of the contract which does not bear my signature as I suspected. This item is the only negative on my credit report and at this point am willing to pay in full in exchange for deletion in its entirety......any suggestions you can give or sample of letter you can provide would be greatly appreciated. Thanks!

I have four rules for doing pfd's.

1. Has the CA ever violated FCRA/FDCPA?
2 Did they ever provided proper validation (if you disputed)
3 Only work with upper/middle management of the CA,they have more power to do these things then 1st level CSR's who will generally not have the authority to do the transaction. Also make sure it's addressed to someone specific in upper/middle management.
4 Is the debt within SOL(Legal) for your state, and can you afford to still pay it if they decide to not take the Pfd and sue?

I'd say about a 1/3 of my credit repair was pfd's. (Most of them were small) The largest one I had was around 700 dollars. The most difficult one for me to work with was a valid payday loan. They were a subsidy of a parent company. It took me about a year off/on searching for Email executives because it was somewhat of a common name so I had a hard time finding them. Once I did, they were more than willing to do the pfd.

When you do contact upper/middle management be nice, and state an offer you can really afford. It also helps if you put a date that you know you can pay it by. I usually keep the letters short/sweet and to the point. If you think it will help to add why the debt got there, then use it. I think my success was that I offered the full amount since most of my debt was under 700 and well within SOL.

Also all pfd's I did were for the full amount of the debt because of #3 (this doesn't happen w/ everyone.. I just thought I stood a better chance if I offered the full amount. The only one I didn't was for First Premier but even then I did the card balance, minus late fees.. however that one wasn't a Pfd...I just wanted to settle the account.

Ohh and 99% of my pfd's were done by email contact. The others were sent certified mail.. so I could track when they got it and how long it took them to respond.



#12 momofthree2011

momofthree2011
  • Members
  • 3 posts

Posted 04 April 2012 - 04:21 PM

Can you provide some insight on the verbiage you used with the PFD on the payday loan. Long story short, I got caught in the payday loan trap and more than paid the loan back in rollovers. I contacted the company and asked for alternate payment arrangements so that I could get some relief. They told me they couldn't discuss alternate payment arrangements on a loan that was not in default. So, I informed them I would be defaulting. I then sent a letter again asking for alternative payment arrangements because I wanted to make sure I had everything in writing for my protection. I never got a response to the original letter or the follow up I sent. About 2 months later I started receiving collection calls and after pulling a copy of my credit report I found out they had passed it off to their "in-house" collection agency who was reporting on all three of my credit reports. I sent disputed with the credit reporting agencies, the CA verified as accurate. I sent multiple DV requests asking for a copy of the contract and payment history on said account (I knew they did not have my signature on the contract since it was over the internet, and I knew that the payment history would indicate I made payments double what was originally loaned). They responded with one-page notices saying they are in receipt of my dispute and have "verified" their records with the original creditor and deem the account valid. I filed a complaint with the BBB and the AG as I wanted to push for a copy of the contract and acknowledgment by them for the payments that were made. They responded to the AG complaint (who forwarded me a copy) feigning innocence in any violations and finally turned over a copy of the contract -- it does not bear my signature as I knew it wouldn't. I just want to get this matter resolved and this item off my credit report since it is the only negative item. I want to use their sneaky tip-toe tactics to my advantage in a PFD situation. I'm willing to pay in full, even though it kills me that this stupid mistake cost me three times what I borrowed, in exchange for deletion. There is no advantage for me to pay another $600 if I get nothing out of it. Any advice, sample letters, etc. you can send my way is greatly appreciated. Thanks!

#13 Gudziel

Gudziel
  • Members
  • 3,090 posts

Posted 05 April 2012 - 08:35 AM

I have four rules for doing pfd's.

1. Has the CA ever violated FCRA/FDCPA?
2 Did they ever provided proper validation (if you disputed)
3 Only work with upper/middle management of the CA,they have more power to do these things then 1st level CSR's who will generally not have the authority to do the transaction. Also make sure it's addressed to someone specific in upper/middle management.
4 Is the debt within SOL(Legal) for your state, and can you afford to still pay it if they decide to not take the Pfd and sue?

I'd say about a 1/3 of my credit repair was pfd's. (Most of them were small) The largest one I had was around 700 dollars. The most difficult one for me to work with was a valid payday loan. They were a subsidy of a parent company. It took me about a year off/on searching for Email executives because it was somewhat of a common name so I had a hard time finding them. Once I did, they were more than willing to do the pfd.

When you do contact upper/middle management be nice, and state an offer you can really afford. It also helps if you put a date that you know you can pay it by. I usually keep the letters short/sweet and to the point. If you think it will help to add why the debt got there, then use it. I think my success was that I offered the full amount since most of my debt was under 700 and well within SOL.

Also all pfd's I did were for the full amount of the debt because of #3 (this doesn't happen w/ everyone.. I just thought I stood a better chance if I offered the full amount. The only one I didn't was for First Premier but even then I did the card balance, minus late fees.. however that one wasn't a Pfd...I just wanted to settle the account.

Ohh and 99% of my pfd's were done by email contact. The others were sent certified mail.. so I could track when they got it and how long it took them to respond.


I started my credit repair roughly the same time as Beli and she has gotten a lot done within this relatively "short" amount of credit repair time. She clearly knows what she is talking about on this subject and don't doubt her. I, too, am curious as to a certain aspect of your PFD repairs, though, Beli.

-- Why did you choose emails over CMRRR and in what stage did that happen? Wouldn't you rather choose CMRRR all the time?

I ask because I have a collection that popped up recently (only one after I had finally cleaned my reports) that will be up in SOL for collections within a couple of months. It's roughly $500 and I can afford to pay it off. I know I am guilty of this from 2008, so I am more than willing to pay it off. But I am fully aware that my chances of getting this TL removed increases 99% once out of SOL. Of course, I will follow the validation root before I perform the PFD to sweet'n the pot should there be any infractions and push them to accept the PFD.

-- I do not remember (it's been quite a while since I had to worry about first date of delinquency) when does the 4-yr SOL begin to tick? When the CA gets the account or when it is in the hands of the OC? Also, what time? Meaning, is it the 30-day? 60-day? 90-day? etc?

Thank you for your help




0 user(s) are browsing this forum

0 members, 0 guests, 0 anonymous users



© Copyright 2003 - 2013 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.