Can someone explain and give an example of a Pay for Delete?

[Anonymous]

Can someone explain and give an example of a Pay for Delete?  If it is posted somewhere on this forum, please direct me.

[Tuscani]

Did you read the Scoring 101 thread?

[Anonymous]

Thank you.  It is clear now.  The reason I originally asked is, I have an account that the collection agency has been taking money from my bank account for the last several months.  I have one more payment to come out next week then it is all paid.  I just recently heard of a PFD.  So I called the manager of the agency and asked for a PFD and to stop my last payment (last ditch effort) until I received a letter like your example.  He said it is against their policy to do anything like that and that violates some fair reporting act.  He did take some (interest) money off of my last payment.  Should I still halt the last payment and try to get a PFD, or is it too late?  What would you do?

[Tuscani]

Probably too late.. but you should still try.. and "violates some fair reporting act" is false. There is nothin is the FCRA that says a TL cannot be deleted.. now, I have heard rumors that some CAs have no delete agreements with the CRAs. IMO, this is also false and used as an excuse for the CA not to delete.

Message Edited by Tuscani on 06-25-2007 11:33 AM

[Anonymous]

If I dont pay my last payment wont it weight the same on my score becasue they wont delete it?  If so, I am canceling my last payment.

[Tuscani]

Depends on how the TL is reporting now.