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Pay for Delete Letter

Regular Contributor

Pay for Delete Letter

Hello, this is a letter I am offering to AMC Bank to settle an old credit card debt of $300 -- it is valid and previous DVs came back verified. The OC is still reporting the account.


Please take a look at the letter and I would appreciate any recommendations.  For example, should I offer less than the $300?  If so, how much. 





 (company name)

(company address)



Re: (account)


Dear .....:


Thanks very much for your recent letter regarding the outstanding balance on this account. This letter is not to be construed as an acknowledgment of my liability for this debt in any form, but rather an attempt to amicably settle the remaining balance owed on the following account: (account number)


The total amount you allege I owe on the account is $300.00.  I will pay your company the full amount of $300.00 as complete settlement of this account, provided that you explicitly agree to each and every point listed as follows:


1. AMC Bank (hereafter "shortened version of company name") agrees to accept payment of $300.00 as an agreed full and final settlement of all outstanding charges and fees on Account # XXX


2. AMC Bank agrees to permanently cease any and all attempts to collect on Account (account number), either directly or through a collection agency.


3. AMC Bank agrees not to sell the debts owed on Account XXX to any third party, since AMC Bank would recognize the account as being paid in full.


4. AMC Bank agrees to completely delete all references to Account XXX from any and all credit reporting agencies, including, but not limited to, Equifax, Experian, and TransUnion. Complete deletion of all account references to Account XXX will be completed within TEN days of receipt of payment without delay, since certified funds will be sent promptly upon receipt of your acceptance of this offer.


5. Upon complete deletion of all references to Account XXX pursuant to point 4 referenced above, AMC Bank agrees not to discuss or report Account (account number) with any third party, including, but not limited to:


 a. All credit reporting agencies, AND

 b. All collection agencies


6. (Shortened company name) will provide (your name) with a copy of the Universal Data Form (shortened company name ) transmits to each credit reporting agency showing the deletion requests and/or a signed, dated letter confirming that (shortened company name) has notified each credit reporting agency requesting the deletion.


7. This agreement is binding upon both parties.


If you agree to points 1 through 7 listed in this settlement offer, please have an individual authorized to make such agreements on behalf of (shortened company name) sign and return a copy of this offer to the return address listed at the bottom of this page. Upon receipt of this agreement, (your name) will promptly send you a certified check in the amount of (dollar amount). The individual who signs on behalf of (shortened company name) must have express authority to make such agreements binding upon (shortened company name) or the agreement is void.


I look forward to resolving this matter in the best interests of both parties. I think this is a fair offer, and it is entirely within the rights and legal obligations of both parties to do this.


Thank you very much for your time in this matter, and I will await your response.




John Smith


Notice: This agreement is restricted to the terms stated herein. This is not a renewed promise to pay, but rather a restricted settlement offer only. Failure to respond within 30 days of the date of this letter will terminate this settlement offer.


Creditor's Authorized Signature: __________________________________


Date: _____________


Name: ___________________________________


Title: ____________________________________


This agreement may be sent to the following address:


John Smith

John's Avenue


font=times new roman,times,serif][color=#0000ff][b]Current FICO Scores (Feb 2016)[/b][/color][/font]
[size=3][font=times new roman,times,serif][b]EX FICO-8 (AMEX) = [i]647[/i][/b]
[b]TU FICO-8 (Discover) = [i]640[/i][/b]
[b]EQ FICO-5 (DCU) = [i]654[/i][/b][/font][/size]

[font=times new roman,times,serif][color=#ff0000][b]Personal Credit[/b][/color][/font]
[*][size=3]B[font=times new roman,times,serif]arclaysMC: $750 [size=3][font=times new roman,times,serif][size=3][font=times new roman,times,serif]Merrick Bank: $700[/font][/size][/font][/size][/font][/size][/*]
[*][size=3][font=times new roman,times,serif]CapitalOneMC: $400 [size=3][font=times new roman,times,serif][size=3][font=times new roman,times,serif]Milestone: $300[/font][/size][/font][/size] [/font][/size][/*]
[*][size=3][font=times new roman,times,serif]CapitaloneMC-Secured: $700 [size=3][font=times new roman,times,serif][size=3][font=times new roman,times,serif]Kohls=$400[/font][/size][/font][/size][/font][/size][/*]
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[*][size=3][font=times new roman,times,serif]AmericanExpress-Costco: $2000 NissanMAC (3.5%) Auto Loan: $40,000 + Mortgage[/font][/size][/*]
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