You may decide it is better for your credit score and credit report to just get rid of a collection account by paying in exchange for a deletion. This type of transaction can be a good fit for consumers who do not mind paying the full amount in order to have a clean credit report. For better results you’ll want to send the pay for delete request to a manager, VP, or CEO (someone in charge).
Pay for Delete Request
Name of Person in Charge
Collection Agency Name
City, State & Zip Code
Re: Collection Account
Account #: xxxxxxxxxx
Amount Owed: $xxxxx
Dear (Name of Person in Charge):
I am willing to pay $_____ as and for full final settlement of this account in exchange for an immediate deletion of this account from any and all credit reporting agencies, including but not limited to Experian, Equifax and Transunion.
This offer of settlement is not an admission or acknowledgment of the liability for this debt, but it is merely a way of having this negative item removed from my credit files.
Please do not state you are unable or it is against any law to delete this account. I am aware of both your rights as well as my own. It is in the power of a furnisher of information to consumer reporting agencies to report a debt, not report a debt or delete a debt from all consumer reporting agencies. The purpose of this settlement is to merely have this item removed from all consumer reporting agencies.
Certified funds in the form of a cashier’s check or money order in the amount of $______ will be sent to (Name of Collection Agency) if the following terms of this pay for delete agreement are met:
- Full deletion of any and all references to this account in my credit files;
- Full satisfaction of the debt;
- No waiting period for the debt to be deleted from the credit reporting agencies since the debt will be satisfied via certified funds;
- (Name of Collection Agency) agrees to delete any and all information referring to this account from the all credit reporting agencies, including but not limited to Experian, Equifax and Transunion, within ten (10) calendar days following receipt of full and final payment of agreed upon amount; and
- (Name of Collection Agency) will not discuss the terms of this settlement with anyone and if contacted by any third party, including any credit reporting agency, (Name of Collection Agency) will not acknowledge that any settlement offer was made, accepted or executed and will deny knowledge of debt.
If you agree to the terms and accept this agreement, I will send you certified funds immediately after I receive a signed agreement. The funds will be sent only if in exchange for it, you are agreeing to the above terms set forth and will be deleting this account from all consumer reporting agencies (Equifax, Experian, TransUnion).
This debt will be considered satisfied, there will be nothing more owed, nothing further to collect, and you will consider this a closed, satisfied account. Again, ALL references regarding this account must be deleted from ALL reporting agencies. Since certified funds will be used for payment, ALL information about this account WILL be removed from all reporting agencies within 15 calendar days of receiving the funds.
If you are in agreement with the above terms, please prepare an settlement agreement on your company letterhead agreeing to the above settlement terms and signed by an authorized representative.
Your response must be postmarked no later than 15 days from your receipt of this pay for delete agreement or it will be withdrawn.
Type your Name
(Never sign any correspondence to a collection agency; your signature may very well end up on something you did not agree to or have knowledge of.)
(This letter is just a sample, feel free to modify as needed)