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New Visitor
Posts: 3
Registered: ‎01-22-2012
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Pay for Deletion - Does it Work?

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.

Super Contributor
Posts: 9,668
Registered: ‎01-28-2010
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Re: Pay for Deletion - Does it Work?

It varies widely by CA ~ many CAs will not agree to PFDs; some will.

I would recommend doing a search here on that particular CA ~ I do not know if people have had success with them.

Also make sure that you get the PFD in writing before you send the $$$
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
New Visitor
Posts: 3
Registered: ‎01-22-2012
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Re: Pay for Deletion - Does it Work?

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.

Moderator Emeritus
Posts: 17,409
Registered: ‎07-14-2009
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Re: Pay for Deletion - Does it Work?


tysonboxer 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".

 


 

New Visitor
Posts: 3
Registered: ‎01-22-2012
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Re: Pay for Deletion - Does it Work?

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.

Super Contributor
Posts: 9,668
Registered: ‎01-28-2010
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Re: Pay for Deletion - Does it Work?

Your best chance in getting this removed is a PFD. If you pay and then dispute chances are the CA will just update it to paid. Most of the time they won't remove a collection that is disputed IME.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Established Contributor
Posts: 905
Registered: ‎07-25-2008
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Re: Pay for Deletion - Does it Work?


tysonboxer 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 Smiley Sad

 

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.


Starting Score: 377EQ/350EX/400TU As of 11/2011
Current Score: 620EQ/614EX/612TU As of 01/2013
Goal Score: 700+ across the boards
Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: Pay for Deletion - Does it Work?

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.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
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Re: Pay for Deletion - Does it Work?

PS:  To answer your question, YES PFD WORKS.  I've had 3 removed.  And I see posts about it everyday.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Super Contributor
Posts: 6,677
Registered: ‎04-07-2008
0

Re: Pay for Deletion - Does it Work?

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.




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