Credit Card Center Advertiser Disclosure

Reply
New Member
Posts: 13
Registered: ‎11-24-2014

Pay For Delete Success!!!!

Hey Everyone,

 

So this is my first time on this forum.  I am 29 years old and have never taken Credit seriously in my life.  In my college year I made some stupid decisions.  I took out a motorcycle loan which I defaulted on, maxed out credit cards and went deliquent, and so on.  It has been 7 years, and finally the Judgement against me for the Motorcycle loan, and credit card stuff has come off COMPLETELY.  I am less than $2,000 in debt.  $1700 of which is medical bills over 3 collection Agencies, $200 for Progressive Auto Insurance, and $50 in another medical bill.  

 

I have recently started a family, and will be needing a better car and purchase my first home in the next few years.  I checked Credit Karma and saw that I am a 555 (transunion), and also used another app called Credit Sesame (Experian) which was 605.  I tried getting an auto loan for a $12k used car with nothing down and the offer I recieved was 24%APR with at least $6k down.  I have never felt so low before.  They also said my Credit Score was 555.

 

I decided to do some research on what I can do MYSELF to help my situation.  I opened up 3 secured Credit Cards, and researched Pay For Delete (Good Will Letters) and have heard so many horror stories.  I figured why not try anyway.  I found a template, tweaked it a bit and this is what I came up with.

 

(Sent the letter out on November 4th, 2014)

 

 

 

Pay For Delete Template:

 

 

Collection Agency Name

 

Collection Agency Address

 

Collection Agency City, State Zip

 

 

 

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 Please do not quote to me that you are unable to do this, I am aware of both your rights as well as my own.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 credit reporting 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 then 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 and all other correspondence regarding this account to:

 

 

 

Your Name

 

Your Address

 

 

End of Template

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

The Response? (Arrived in mail November 20, 2014)

 

Dear   My Name,

 

We have reviewed and investigated your request.  We have not received validation information within our policy guidelines, therefore we have closed you account back to our client.  If your account was earlier placed with a credit bureau we have sent a request for deletion of this information.  Please keep in mind that this may take up to 30 days under FCRA guidelines.

 

Best wishes for a successful year!

 

Sincerely,

 

Admin Staff

North American Credit Services

 

 

End  of Response

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

 

 

I hope this gives hope to people.  I will be reviewing my credit report at the end of December to see if the account has been removed.

 


Any tips or advice from any of the Pros out there would be greatly appreciated.  I live paycheck to paycheck and dont really have a savings.  So far been keeping my credit utilization at under 20%. I have noticed my credit score has gone up about 11pts in the past 30 days.

 

 

Moderator
Posts: 9,202
Registered: ‎08-12-2013
0 Kudos

Re: Pay For Delete Success!!!!

Welcome to the community!   Congrats on taking some steps to help you meet your credit goals of getting an auto loan with a good rate.

 

And congrats on your success.   It appears they treated your PFD offer more like a DV, but it worked.   As you are able to settle on collections, definitely keep trying PFD.   If that is unsucessful, paying/settling and asking for GW removal later is also an option worth considering.

 

You may want to read through the "Understanding FICO Scoring" section of the site to help you optimize your UTIL of your three CCs.  Keeping <20% UTIL is good, but you may want to optimize even more before you app for a car loan.   Ideal UTIL is <10% overall and <10% on each CC.   Less than half of your revolving accounts should have a balance.   In other words, let one CC post a balance of <10% and zero the other CCs out. 



Start: 619 (TU08, 9/2013) | Current: 791 (TU08, 8/15/17)
Sam's Club MC $25000 | Marvel MC $25000 | Macy's AMEX $25000 | AMEX BCE $20400 | Macy's Store $20000 | Discover IT $18000 | BoA BBR #1 $17200 | Cap 1 QS WMC $16500 | NFCU CLOC $15000 | JCP $15000 | Citi DC $12600 | BofA BBR #2 $11800 | Chase Disney Visa $11500 | Care Credit $10200 | CashForward WMC $10000 | Barclay Rewards WMC $10000 | WCU Visa $10000 | Cash+ VS $9000 | Amazon Store $8000 | Blispay $7500 | Sony Card $4250 | Target MC $4000 | Costco Anywhere $3200 | ~~Gardening Since 4/5/16
Valued Contributor
Posts: 2,855
Registered: ‎09-17-2014

Re: Pay For Delete Success!!!!


TheParaRanger wrote:

Hey Everyone,

 

So this is my first time on this forum.  I am 29 years old and have never taken Credit seriously in my life.  In my college year I made some stupid decisions.  I took out a motorcycle loan which I defaulted on, maxed out credit cards and went deliquent, and so on.  It has been 7 years, and finally the Judgement against me for the Motorcycle loan, and credit card stuff has come off COMPLETELY.  I am less than $2,000 in debt.  $1700 of which is medical bills over 3 collection Agencies, $200 for Progressive Auto Insurance, and $50 in another medical bill.  

 

I have recently started a family, and will be needing a better car and purchase my first home in the next few years.  I checked Credit Karma and saw that I am a 555 (transunion), and also used another app called Credit Sesame (Experian) which was 605.  I tried getting an auto loan for a $12k used car with nothing down and the offer I recieved was 24%APR with at least $6k down.  I have never felt so low before.  They also said my Credit Score was 555.

 

I decided to do some research on what I can do MYSELF to help my situation.  I opened up 3 secured Credit Cards, and researched Pay For Delete (Good Will Letters) and have heard so many horror stories.  I figured why not try anyway.  I found a template, tweaked it a bit and this is what I came up with.

 

(Sent the letter out on November 4th, 2014)

 

 

 

Pay For Delete Template:

 

 

Collection Agency Name

 

Collection Agency Address

 

Collection Agency City, State Zip

 

 

 

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 credit reporting 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 then 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 and all other correspondence regarding this account to:

 

 

 

Your Name

 

Your Address

 

 

End of Template

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

The Response? (Arrived in mail November 20, 2014)

 

Dear   My Name,

 

We have reviewed and investigated your request.  We have not received validation information within our policy guidelines, therefore we have closed you account back to our client.  If your account was earlier placed with a credit bureau we have sent a request for deletion of this information.  Please keep in mind that this may take up to 30 days under FCRA guidelines.

 

Best wishes for a successful year!

 

Sincerely,

 

Admin Staff

North American Credit Services

 

 

End  of Response

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

 

 

 

I hope this gives hope to people.  I will be reviewing my credit report at the end of December to see if the account has been removed.

 


Any tips or advice from any of the Pros out there would be greatly appreciated.  I live paycheck to paycheck and dont really have a savings.  So far been keeping my credit utilization at under 20%. I have noticed my credit score has gone up about 11pts in the past 30 days.

 

 


Congratulations!...Thanks For Sharing.Woman Very Happy

Smiley Happy (BANK OF AMERiCA CA$H REWARD$ ViSA SiGNATURE) (CHASE AMAZON ViSA SiGNATURE) (CAPiTAL ONE QUiCKSiLVER ViSA SiGNATURE) (CiTi DOUBLE CA$H WORLD MASTERCARD) (BARCLAYCARD UPROMiSE WORLD MASTERCARD) (SYNCHRONY MARVEL MASTERCARD) (AMERiCAN EXPRESS BLUE CA$H EVERYDAY) (DiSCOVER iT NHL)
New Contributor
Posts: 71
Registered: ‎11-24-2014
0 Kudos

Re: Pay For Delete Success!!!!

Congrats. Keep up the good work. We all start someplace including myself.
New Member
Posts: 13
Registered: ‎11-24-2014
0 Kudos

Re: Pay For Delete Success!!!!

Thank You for your response.  I have definitely read quite a bit since.  I am up 48pts in less than 2months.  Started at 566 and as of last week 614.  Just sent my 2nd PFD letter out.  Seems like the last removal boosted my scorer 20+ PTs.  Can't wait for a response for this one. 

Contributor
Posts: 93
Registered: ‎10-05-2014
0 Kudos

Re: Pay For Delete Success!!!!

Thanks for the update! Definately moving in the right direction!!

CU Visa - $500 | Cap1 QS - $500 | Cap1 Sec - $500 | Fingerhut - $600 | TigerPay (TigerDirect) - $1,400 | Synchrony (Home Design) - $3,500 | Best Buy - $3,800

Starting Score: EQ: 585 - TU: 590 - EX: 582 - 12/27/2014
Current Score: EQ: 617 - TU: 622 - EX: 607
Goal Score: EQ: 680 - TU: 680 - EX: 680

Regular Contributor
Posts: 159
Registered: ‎12-20-2014
0 Kudos

Re: Pay For Delete Success!!!!

cONGRATS!!!!!!

 

 I am thinking of doing the same for Midlands but i understand that midland dont do PFD and would rather a debt thats >SOL stay than PFD..

 

 

 

 

 

 

Community Leader
Super Contributor
Posts: 11,707
Registered: ‎09-10-2014
0 Kudos

Re: Pay For Delete Success!!!!


Stevenson wrote:

cONGRATS!!!!!!

 

 I am thinking of doing the same for Midlands but i understand that midland dont do PFD and would rather a debt thats >SOL stay than PFD..

 

 

 

 

 

 


 

Oh, they will do it, but they just have to be convinced it in their best interest. The request has to get seen by someone there with more than a shoe size IQ equivalent.

Most Recent FICO 8 Scores EX571/TU508/EQ560 10/03/2017 Starting scores 553/485/543 08/25//2017
~~~Credit lines~~~~
SDFCU VISA Secured $250
Discover Secured $200
New Member
Posts: 13
Registered: ‎11-24-2014
0 Kudos

Re: Pay For Delete Success!!!!

Thank You for the tips.  I have been keeping my utilization down to 10% or less and also added more funds to my secured credit card limit to help with my credit to debt ratio.  Thankfully I am down to just under $2k in debt (all medical bills).

Frequent Contributor
Posts: 275
Registered: ‎07-06-2014
0 Kudos

Re: Pay For Delete Success!!!!

That is awesome! 

I've only gotten one PFD, but it does feel good!

 

Congrats on the PFD, and your hourney to credit health!


Starting scores (Jul '14): 570's (FAKO's)

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.