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Valued Contributor
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

Re: Reaged Account

Your Name
Your Address
Your City, State Zip


Collector’s Name
Collector’s Address
Collector’s City, State Zip

 

Date:

 

Re: Account Number XXXX-XXXX-XXXX-XXXX

 

Dear Collection Manager:

 

This letter is in response to your [letter / call / credit report entry] on [date] related to the debt listed above. I wish to save us both some time and effort by settling this debt.

 

Please be aware that this is not an acknowledgment or acceptance of the debt, as I have not received any verification of the debt. Nor is this a promise to pay and is not a payment agreement unless you provide a response as detailed below.

 

I am aware that your company has the ability to report this debt to the credit bureaus as you deem necessary. Furthermore, you have the ability to change the listing since you are the information furnisher.

 

I am willing to pay [this debt in full / $XXX as settlement for this debt] in return for your agreement to remove all information regarding this debt from the credit reporting agencies within ten calendar days of payment. If you agree to the terms, I will send certified payment in the amount of $XXX payable to [Collection Agency] in exchange to have all information related to this debt removed from all of my credit files.

 

If you accept this offer, you also agree not to discuss the offer with any third-party, excluding the original creditor. If you accept the offer, please prepare a letter on your company letterhead agreeing to the terms. This letter should be signed by an authorized agent of [Collection Agency]. The letter will be treated as a contract and subject to the laws of my state.

 

As granted by the Fair Debt Collection Practices Act, I have the right to dispute this alleged debt. If I do not receive your postmarked response within 15 days, I will withdraw the offer and request full verification of this debt.

Please forward your agreement to the address listed above.

 

Sincerely,

 

Your Name

(DO NOT SIGN THE LETTER)

 

 

Tips for Sending Your Pay for Delete Letter

  • Send the letter only if you have the ability to pay the full amount listed as soon as the collection agent agrees to your offer.
  • Send the letter and your followup payment via certified mail with return receipt requested.
  • Make sure you keep a copy of the letter for yourself.
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Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

Re: Reaged Account

rootpooty: Thank you! Would I include in the letter that upon cashing of the payment would constitute an accepted agreement when I send the payment in? And would I mention that the SOL has expired, or are these things I need to avoid?

 

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Valued Contributor
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

Re: Reaged Account


YoungMoney06 wrote:

rootpooty: Thank you! Would I include in the letter that upon cashing of the payment would constitute an accepted agreement when I send the payment in? And would I mention that the SOL has expired, or are these things I need to avoid?

 


its not needed.  there are other PFD sample letters in the stickies you dont have to use the one i provided.  I have used the one i showed you and some accept it and some deny it.  I had 7-8 collections and only one accepted my PFD offer.  I have had more success paying the CA's then sending a GW asking for a deletion.

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

Re: Reaged Account

The only downfall about paying first and sending a GW is that it isn't guaranteeing they'll even accept the GW though, right?

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


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Valued Contributor
rootpooty
Posts: 1,711
Registered: ‎10-28-2011

Re: Reaged Account


YoungMoney06 wrote:

The only downfall about paying first and sending a GW is that it isn't guaranteeing they'll even accept the GW though, right?


right but a paid collection is better than an unpaid collection when doing a recon.  I was just stating the fact that I have had more success getting derogs removed via GW than PFD

NFCU plat 5k | NAVCHECK 5k | NFCU cashrewards 3k | BOFA 123 3k |
Chase Freedom 1.5k | Amazon 1800 | Walmart 1450 | Buckle 300

On the prowl for Chase Sapphire Preferred!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

Re: Reaged Account

To put this story to rest, TU removed the account. Awaiting Experian and Equifax right now. Just hope it doesn't show back up later down the line. And as a result of the removal, score jumped about 15 points. :smileyhappy:

 

WIN :smileylol:

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


Take the FICO Fitness Challenge
Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011

Re: Reaged Account

Nice.  Congrats!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Regular Contributor
YoungMoney06
Posts: 116
Registered: ‎06-26-2011

Re: Reaged Account

Thanks Shogun...

 

BTW, just did some research. Account was deleted from Equifax as well.

 

What a great feeling. Now I just need to manage this one credit card I have and keep it in good standing, possibly get me a couple secured cards.

 

Any chance I will have a better opportunity at unsecured cards now that this one account has been deleted off EQ and TU? Account was claiming I was a recent risk, however, with it removed, the reports should look slightly appealing right?

My Wallet: WF College Card ($1.7k); GE Wal-Mart ($1.3k); GE Amazon ($1.9k); Chase Freedom ($1k); Citi Simplicity ($2k); Discover IT ($2k); CareCredit ($1.5k); GE Lowes ($2.5k) -- In The Garden 'Til 08/2014

Current Scores: EQ 716; TU 683; EX: 709; TU(08): 723 - As of April 21, 2014
Goal Score: 700 Across the Board (TU, EQ, EX)


Take the FICO Fitness Challenge
Moderator
Shogun
Posts: 12,890
Registered: ‎04-15-2011

Re: Reaged Account

I would say yes.  


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Regular Contributor
jandj80
Posts: 230
Registered: ‎09-22-2012

Re: Reaged Account

With TU being your highest score, I would strongly encourage you apply to Walmart for their store card, or to Barclays for the NFL rewards card. I was approved for both (600CL Walmart and 500CL Barclays). I think you stand a great chance with both of them. And congrats on the deletions!


Starting Score: EQ 416 TU 498 EX 468 Lender Fico's July 2012
Current Score: EQ 548 (Myfico) TU 655 (Walmart) CK 672 EX?? CS 642
Goal Score: For now: 640s


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