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prdrboi

Pay for Deletion

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Hello all,

 

And thank you in advance for reading. I have a few small charge-off accounts which I'd like to use the pay for deletion tactic. I know protocol is probably a written offer, but how likely is it that the creditor will agree? What does the process look like?

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Alex, I'll take "What are just myths" for $1000.

Wow! Super helpful. Why respond to people looking for help if you're just going to belittle them? If you're looking to be funny or humorous, you're not finding it. Sheesh.

 

 

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Hello all,

 

And thank you in advance for reading. I have a few small charge-off accounts which I'd like to use the pay for deletion tactic. I know protocol is probably a written offer, but how likely is it that the creditor will agree? What does the process look like?

If it were me, I would search the forums here for letters and examples of others' successes and failures. I don't personally have an example but I do wish you the best.

 

 

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Hello all,

 

And thank you in advance for reading. I have a few small charge-off accounts which I'd like to use the pay for deletion tactic. I know protocol is probably a written offer, but how likely is it that the creditor will agree? What does the process look like?

 

I think it depends on what type of entity you are dealing with.

 

In general, original creditors (OC) have historically been unwilling to delete.

Collection Agencies (CA) and Junk Debt Buyers (JDB) have been more open to negotiations.

 

Also, a typical customer service or front line representative likely doesn't have authorization to even say Yes to a "pay for deletion (PFD" offer.

You have to reach a manager or higher type person to get someone that can make that deal.

 

If it is a CA or JDB, then don't have as much skin in the debt because they likely purchased it for less than 10% of face value.

 

Honestly, I have had my best successes by threatening them with litigation.

Basically hold the threat of imposing lots of legal expenses on them if they don't delete.

That usually gets them to just walk away and also delete whatever they are reporting to the credit bureaus.

But not everyone has the ability to play that game, because your target might call you on it, so don't necessarily try it.

Edited by RocketGoBoom

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PFD's are the LAST RESORT.

 

It is not something that you want to start with it's more of a "I've tried everything else let's see if this works" situation.

 

If you have some CO's then you can list out all the details and find something inaccurate to dispute.

 

You also need to be aware of the SOL for those CO's

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PFD's are the LAST RESORT.

 

It is not something that you want to start with it's more of a "I've tried everything else let's see if this works" situation.

 

If you have some CO's then you can list out all the details and find something inaccurate to dispute.

 

You also need to be aware of the SOL for those CO's

 

+1

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Collection Agency Name

Collection Agency Address

 

Account #: xxxxxx (your account number) as stated on credit report

 

Amount: $___________ (amount you owe)

 

To Collection Manager:

This letter is to inform you that the validity of this debt is disputed. I am unaware of this account and have no verification this debt is mine. I only know of this account based on it being reported in my credit report(s). As we both know, I have the right to dispute this account, request for verification, and/or request for validation of this debt. However, in order to quickly resolve this account, I am willing to pay $________, if you agree to delete this account from any and all credit reporting agencies. Please do not quote to me that you are unable to do this, I am aware of both your rights as well as my own. We both know you are the source reporting this account and have the absolute right to report it, not report it, or delete it from all reporting agencies. The purpose of this settlement is merely to have this item removed from all reporting agencies. We are both aware that paying this unverified debt is no benefit to me unless we can agree on the terms. I am sure you are aware that paying a collection account does not bode well on a credit report and that merely having a collection on a credit report will have a negative impact whether paid or unpaid.

Please Note: This is not an acknowledgment of liability for this debt in any way or form. If there is any confusion about my position on this alleged debt, please refer back to the first paragraph of this letter in which I state: "I am unaware of this account..." That being said, let me be clear, this is NOT: a promise to pay, a renewal, an admittance to this debt, or in any way me agreeing this debt is mine. This is a restricted offer only.

 

If you agree to the terms and accept this agreement, I will send you certified funds immediately after I receive this signed agreement. The funds will be sent only if in exchange for it, you are agreeing to the terms set forth in this agreement and will be deleting this account from all reporting agencies (Equifax, Experian, TransUnion). This debt will be considered satisfied, there will be nothing more owed, nothing further to collect, and you will consider this a closed, satisfied account. Again, ALL references regarding this account must be deleted from ALL reporting agencies. Since certified funds will be used for payment, ALL information about this account WILL be removed from all reporting agencies within 15 calendar days of receiving the funds.

 

(Collection Agency Name) agrees to delete ALL information regarding this account from ALL creditreporting agencies WITHIN FIFTEEN (15) CALENDAR DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, for any reason, excluding your client on this account. If contacted by any third party, including credit reporting agencies, (Collection Agency Name) will not acknowledge that any settlement offer was made, accepted, offered, or executed and will deny knowledge of any such account.

If you agree to the above terms, please sign (by an authorized representative of (Collection Agency Name) this agreement below, print (clearly) the name of that signature, and provide the position held by the one signing this agreement. It will be implied that this letter shall constitute a legally binding contract, enforceable under federal, state, and local laws. Please also include with this signed agreement a company letterhead stating you received and agree to this restricted offer and the terms set forth within it.

Your response must be postmarked no later than 15 Days from your receipt of this

settlement/agreement offer OR this offer will be withdrawn and I will request full validation of this

alleged debt, as allowed by the Fair Debt Collection Practices Act. If you decide to decline this offer, and begin calling about this alleged debt, expect the next letter from me to be a Cease and Desist letter,

attached with it, a request for Full Validation. Thank you for your time.

 

 

______________________________

 

Signature

 

______________________________

 

Print Name of the above signature

 

______________________________

 

Title or Position held

 

______________________________

 

Date

 

Please send this agreement, your company letterhead agreement & all other correspondence regarding this account to:

 

Your Name

Your Address

 

 

 

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Way too long and form letters stink.

 

Creditors rarely agree to a PFD and when they do, rarely put it in writing. Nobody is going to sign a document like that though.

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Way too long and form letters stink.

 

Creditors rarely agree to a PFD and when they do, rarely put it in writing. Nobody is going to sign a document like that though.

if written in blue ink, it's not machine read. Worked for me though.

 

 

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how likely is it that the creditor will agree? What does the process look like?

 

 

Wow! Super helpful. Why respond to people looking for help if you're just going to belittle them?

 

I answered your question... don't get all sore that I didn't frame the answer the way you wanted.

 

As for cmmoore's letter: NO. Just no. (WAS going to post "Alex, I'll take 'What is virtually assured to guarantee no one will read your letter.' for $900" but was afraid that would ruin your day again.)

 

Look, if you want help with what will work, post the details of the debts as they appear on your credit reports.

Edited by mfarmer

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Way too long and form letters stink.

 

Creditors rarely agree to a PFD and when they do, rarely put it in writing. Nobody is going to sign a document like that though.

+1...way too long and demanding.

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OP, they're just hazing you. Don't let it bother you. Tough bunch here, but they know their stuff. :)

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Way too long and form letters stink.

 

Creditors rarely agree to a PFD and when they do, rarely put it in writing. Nobody is going to sign a document like that though.

if written in blue ink, it's not machine read. Worked for me though.

 

 

Sent from my iPhone using Tapatalk

 

that is a myth that continues to ruin many consumers' efforts at credit repair.

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The wording of your letter needs to be basically something like this. Very direct and to the point.

 

Re: Account number (12345)

Offer of Settlement:

 

I am willing to resolve this with your company. I consider this a nuisance settlement. I am not paying this because it is valid. I am offering you a token amount of money in order for us to go out separate ways without any admission that what you claim is valid.

 

I am offering you 25% of (whatever they claim). I will issue to your company a check in the amount of _________.

This offer expires on April 30th, 2017.

 

If you accept the offer, you are also agreeing that all reporting of this matter will also be deleted from my credit files.

 

If you decline this offer, I will consider this matter closed and just deal with the credit bureaus going forward to have it deleted without paying you anything.

This is a one time offer. After it expires, my decision will be final.

 

I look forward to your response.

 

Sincerely,

Prdrboi

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Way too long and form letters stink.

 

Creditors rarely agree to a PFD and when they do, rarely put it in writing. Nobody is going to sign a document like that though.

if written in blue ink, it's not machine read. Worked for me though.

 

 

Sent from my iPhone using Tapatalk

It is machine read. They use modern technology and this capability has existed for at least 20 years. A CB member who works in that industry confirmed the capabilities.

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Handwritten letters in blue ink are rejected by machine and are manual read.

 

 

Sent from my iPhone using Tapatalk

If this were true then we would not have CAPTCHA images that are damn near impossible for actual humans to read. It would just be some handwritten text in blue ink...

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Handwritten letters in blue ink are rejected by machine and are manual read.

 

 

Sent from my iPhone using Tapatalk

If this were true then we would not have CAPTCHA images that are damn near impossible for actual humans to read. It would just be some handwritten text in blue ink...

Sorry for helping & answering the person above's question & it not being good enough for everyone else... ‍♀️♀️♀️

 

 

Sent from my iPhone using Tapatalk

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Handwritten letters in blue ink are rejected by machine and are manual read.

 

 

Sent from my iPhone using Tapatalk

If this were true then we would not have CAPTCHA images that are damn near impossible for actual humans to read. It would just be some handwritten text in blue ink...

Sorry for helping & answering the person above's question & it not being good enough for everyone else... ‍♀️♀️♀️

 

 

Sent from my iPhone using Tapatalk

 

You are not answering anything.

 

You are spreading misinformation.

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Handwritten letters in blue ink are rejected by machine and are manual read.

 

 

Sent from my iPhone using Tapatalk

not true. at least not since the 1990s.

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