Sample Pay for Delete Request

3 Sample Pay for Delete Letters

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What is a ‘Pay For Delete’ Letter?

You may decide it’s better for your credit score and credit reports to just get rid of a collection account by paying in exchange for a deletion. A pay for delete letter initiates this type of transaction and can be a good fit for consumers who don’t mind paying a debt in order to have clean credit reports.

A pay for delete letter tends to work best when you make the request with a manager, VP or CEO (someone in charge). However, some collection agencies may have an internal policy to accept a pay for delete letter agreement.

‘Pay for Delete’ or ‘Pay for Deletion’ is the best way to settle your debts and clean your credit reports. Even though I’m primarily referring to a pay for delete letter in regards to collection accounts, an original creditor may also agree to a pay for delete regarding a charge-off account. It’s rare that an original creditor agrees to a pay for delete, but it doesn’t hurt to ask.

Sending a pay for deletion letter is fairly simple; it’s getting the collection agency to agree that may require a little persistence. But you may find some collection agencies very familiar and open to a pay for delete agreement.

Collection agencies typically buy your debt for only pennies on the dollar. In fact, if the debt is recent they may still only pay ten cents on the dollar for your debt. That means if they can make 25 cents on the dollar, they’ve made money.

But don’t be surprised if the collection agency requests the full amount once they know you are open to paying the debt in exchange for deletion. Hold your ground and offer less. You never know what they’ll agree to until you make the request.

Once you send your pay for delete letter and the collection agency either calls or writes you agreeing to the transaction, get the pay for delete agreement in writing before you send the money.

Steps to initiate a pay for delete letter

Step 1. Contact the collection agency in writing or over the phone to request a pay for deletion. Offering to pay an outstanding debt to get a collection off your credit report doesn’t mean you’re admitting the debt belongs to you. A payment for deletion letter simply lets the collection agency know you’re open to paying off a debt that the collection agency says you owe.

Step 2. Once the collection agency agrees to a pay for deletion, request a signed agreement stating they will remove the collection account or negative tradeline from your credit reports.

Step 3. Send the payment in the form of a cashier’s check or money order once you have the signed agreement in hand from the collection agency. NEVER give a collection agency access to your bank account.

Step 4. Monitor your credit reports for the next 30 days to verify the account has been deleted. If the collection agency has not deleted the negative information from your credit reports contact the collection agency to remind them of your agreement along with submitting a dispute with the credit bureaus. Use your signed pay for delete agreement as proof of the deletion agreement when you submit a dispute with the credit bureaus.

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Sample Pay for Delete Letter 1

{Collection Agency Name & Address}
{Collection Account No.: xxxxxxxx}

{Original Creditor: (creditor name)}
{Amount as Listed on Credit Report: $xxx.xx}

To Whom It May Concern:

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 consumer 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 don’t 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’s in the authority 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 consumer 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 fifteen (15) calendar days following receipt of full and final payment of agreed upon amount.
  • (Name of Collection Agency) will not discuss the terms of this settlement with anyone and if contacted by any third party, including any consumer 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, paid in full debt.

If you are in agreement with the above terms, please prepare a settlement agreement on your company letterhead agreeing to the above settlement terms and signed by an authorized representative.

Sincerely,

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.)

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Sample Pay for Delete Letter 2

{Collection Agency Name & Address}
{Collection Account No.: xxxxxxxx}

{Original Creditor: (creditor name)}
{Amount as Listed on Credit Report: $XXXX.XX}

To Whom It May Concern:

I am writing this letter to offer an opportunity to settle the alleged debt to our mutual benefit. Please note this is not an acknowledgement of any liability for this debt. I retain my right to request a full and complete debt verification and validation from your company.

However, I am willing to settle this account as a show of goodwill under the following conditions:

  • Your company will delete all references to this account from my credit reports at any all consumer reporting agencies, including but not limited to Experian, Transunion and Equifax.
  • You will not list this debt as a “settled account.”
  • Your company will accept this payment to satisfy the debt in full.
  • Your company will not attempt to sell or transfer this debt to another debt collector.
  • You will make no mention of this agreement to outside third parties.

Upon receiving a signed agreement of the above-listed terms from your company, I will:

Pay the amount of $XXX.XX via money order or certified cashier’s check to settle the debt in full. (If possible offer 40% to 50% of the debt for recent accounts or 30% to 40% of the debt for older accounts.)

Please be advised this is not a renewed promise to pay the debt. This is a restricted settlement offer and you must agree to the terms above in order for payment to be made.

If you are in agreement with the above terms, please prepare a settlement agreement on your company letterhead agreeing to the above settlement terms and signed by an authorized representative.

I look forward to your prompt and positive response.

Sincerely,

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.)

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Sample Pay for Delete Letter 3

{Collection Agency Name & Address}
{Collection Account No.: xxxxxxxx}

{Original Creditor: (creditor name)}
{Amount as Listed on Credit Report: $xxx.xx}

To Whom It May Concern:

It has been brought to my attention that your company is attempting to collect a debt you claim I owe. While I accept no responsibility for ownership of this debt, I’m willing to pay this debt in full in exchange for your agreement to the following:

  • Your agreement to a full and complete deletion of any past-due references, collection account or negative tradeline pertaining to this account from all credit bureaus to which you report, including but not limited to Experian, Transunion and Equifax.
  • Your agreement that this payment constitutes a payment in full, and not a “paid collection” or “settled account.”
  • Your agreement that you will not attempt to sell or reassign the rights of this account to another third-party debt collection agency after payment has been received.

While I’m well aware that your purpose is to collect debts which you have obtained from original creditors, I am also aware that you are under no obligation to report any of these accounts to the credit bureaus.

Your full cooperation in deleting this account in exchange for payment is appreciated.

Once I’m in receipt of a signed agreement from your authorized representative, on your company letterhead, stating that you agree to the above terms, I agree to pay $xxx.xx via certified funds – either cashier’s check or money order.

This payment will be sent to you via priority mail as soon as the signed agreement is received by me.

Please be advised this is not a renewed promise to pay or a claim of responsibility for this debt. This is not a statement that I believe this debt is valid or owed by me. It’s simply a way to rid my credit reports of this alleged debt.

In the event that you do not agree with the resolution terms offered above, I will move forward with my rights to request a full and complete verification and validation of this debt.

I look forward to a timely resolution of this matter.

Sincerely,

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.)

These letters are just samples, please modify to fit your situation. There is no guarantee implied by rebuildcreditscores.com when using these sample letters.