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I have a few questions that I'm hoping someone can offer some assitance on. I have been doing some research on "Pay for Delete Letters". It's where I write a letter to the creditor/collection agency and offer to make a partial or full-payment if they agree to completely remove the negative entry from my credit report. My questions are this.
1. Overall does this have a high success rate? More often than not, the creditor will agree to the terms?
2. Has anyone ever tried this with Global Acceptance Credit Company or Credit Management, LP? If so, do they typically agree to remove an entry in exchange for payment?
In theory this method sounds like it should work, but I've never tried it, so I'd be interested in hearing other's experience with this.
Thanks for the response. I found a real good template to use for the letter, which requests proof. Another question I have is if I was to just pay the accounts, so they were completely fulfilled and then turned around and filed a dispute to have them removed. Would this be a pretty straight-forward process? I would imagine that the CAs really would not have a whole lot of incentive of digging through their records to validate the debt when they have received payment and the agreed terms have been fulfilled on both ends, so there is no more collection actions on their end. But I could be wrong.
@Anonymous wrote:Thanks for the response. I found a real good template to use for the letter, which requests proof. Another question I have is if I was to just pay the accounts, so they were completely fulfilled and then turned around and filed a dispute to have them removed. Would this be a pretty straight-forward process? I would imagine that the CAs really would not have a whole lot of incentive of digging through their records to validate the debt when they have received payment and the agreed terms have been fulfilled on both ends, so there is no more collection actions on their end. But I could be wrong.
Hello and welcome to the forums.
What would you be disputing? You should only dispute information you truly believe to be inaccurate. By offering a PFD you are admitting that there are no errors. To then turn around and dispute the validity of the information is doing an end around of the entire dispute process.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
I would be disputing charges that I do not believe valid but in the interest of just resolving it, I'll just pay it because it's hurting my score. I heard that some CAs will tell you that it is illegal to remove an entry from a credit report. I've also found out that this is not true. Well, from what I can gather from reading through different forums. They for the most part say that the CA agreeing to these terms and removing it is not violating in FCRA regulations. That's why I'm asking in the event they do not agree to it and I go ahead and pay it, theoretically, I would think that they would not be as likely to validate it if I was to submit a dispute.
@Anonymous wrote:I would be disputing charges that I do not believe valid but in the interest of just resolving it, I'll just pay it because it's hurting my score. I heard that some CAs will tell you that it is illegal to remove an entry from a credit report. I've also found out that this is not true. Well, from what I can gather from reading through different forums. They for the most part say that the CA agreeing to these terms and removing it is not violating in FCRA regulations. That's why I'm asking in the event they do not agree to it and I go ahead and pay it, theoretically, I would think that they would not be as likely to validate it if I was to submit a dispute.
Some other "Forums" and "boards" offer unethical advice
Paid or unpaid colletions are scored the same... keep sending the CA a PFD
until they agree or it falls off your reports.
If you pay it without a PFD then you have nothing to leverage with!!!!
Be patient in credit repair and rebuilding.
The CRA's don't "dig into" anything. They send the dispute electronically (and if you dispute online, it only takes them a few minutes, I read every dispute should take less than 4 minutes)....to the CA or OC. Then THEY validate/verify. The CRA"s dont give two cusswords about passing the disputes on. I have FOUR THAT ARE REALLY AND TRULY NOT MINE and I can't get them removed for ANYTHING, even PROOF!!!!!
This is an unfair and bogus process and if you're going to be talking about disputing accurate info, you'll have to go to another forum to do that.
Good Luck.
PS: To answer your question, YES PFD WORKS. I've had 3 removed. And I see posts about it everyday.
I have seen many PFD's work they just never worked for me. I have one collection that i negotiated to PFD but they said no 3 times to me. I ended up paying it anyway. I will just let it age.