Has this letter worked for anyone? I've just paid two small accounts in full on my credit report and I wish I had seen this letter prior to doing that. I'd like to use this letter when I pay off the next account if it will actually get the account taken off my credit report.

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I am being sued by LVNV Funding for $2,000 + interst. I'm in KY, so the SOL may or may not be passed, it's kind of up to the judge. If I can get this settled out of court and off my credit reports, it would be the best thing.

I've edited the letter from the begining of this post. Can someone with more expereince look at it and see if it would be OK to send to their lawyer?

Any and all sugggestions are welcome! Thanks!

******
I received the summons from the **** county court system last weekend and will be responding. However, I can save us both some effort & time by "Settling the debt out".

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that LVNV Funding LLCP regularly purchases debts in the course of doing business.

Suffice to say, your client holds all the rights to report the debt to the credit bureaus as they see fit and they can change that listing at any time as the source reporting the debt.

I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that your client will report the debt as mentioned below.
While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

My goal is to arrange a term acceptable to both us since this debt is questionable.

I will pay your client the amount of $1,000.00 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed:
• To cease pursuing collection against me through the court system
• To remove this account from all three of my credit bureau reports
• To accept payment as being in full and to never transfer any possible balance to another entity
If you concur with these terms please acknowledge with your signature and return the original document to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written, signed confirmation.
Upon receipt of this signed acknowledgment, I will mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made and the offer will be void.

*******

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The above post is mine- I must have forgotten to log in.

Thanks!

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__________________
Jennifer
- Kentucky -

Has anyone had success in this type of letter working? I have not heard of this thing before but sounds good.

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Yes. I have actually had two items completely removed from my credit. A couple of things to note. One of the companies tried giving me a letter confirmation... and it stated paid in full. This is different than pay for delete. If I would have paid them, they would have just reported that the debt was paid in full... but the line item would still have showed on my credit. I went back to them and said that I wanted a letter saying they would remove the entire line item from my credit before I would pay. They faxed me a new letter that same day.

Another thing to note... this usually will work when you are dealing with collection agencies. Larger companies such as credit card companies and banks typically will not agree to a pay for delete.

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How do I go about writing a letter for delete when the account has been paid off, but is still on report

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COURT

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what kind of offers will CA's typically accept? Will $2000 for a $10,000 credit card be enough?

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If you press hard enough I imagine it will. They typically buy debt for 10% or less of its face value.

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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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Hello to all..I am just a consumer desperately trying to repair my credit. I am writing this letter in refrence to should I just pay old collections in hopes of them bieng paid in full on my credit report

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Can you send this to an originallcreditor or does this apply only to collection agencies and also., If the original creditor agrees do the collection agency reports get removed as well?

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Thanks for shring this information with us.

I have printed it & filed to my documents.

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Any thoughts on sending a brief settlement offer letter w/actual agreement prepared by me that the creditor can sign? Am I risking anything? I'm no attorney - CA's get in trouble all the time when their settlement agreements violate FDCPA laws. Also, what if they sign such an agreement, but fail to remove the debt from your credit report?

My simple letter would be this:

Dear Collection Manager:

My credit report shows that you claim I owe the above debt to your agency. To save time and effort I will send $XX as payment in full if you agree to instruct all 3 credit bureaus to remove all information on this account from my credit report per the attached agreement. If you agree to the terms please sign the attached agreement and return to me by XX-XX-XX. Upon receipt of this signed agreement I will send said payment and your agency will remove the debt from my credit report.

My attached agreement would be this:


SETTLEMENT AGREEMENT TO DELETE A DEBT REPORTED TO THE CREDIT BUREAUS


(Date)
(Creditor name & address)
(My name & Address)
(Alleged debt information that appears on your Credit Report)


(Creditor) agrees that the above alleged debt will be considered paid in full upon receipt of ($xx) from (my name). Upon receipt of said payment, (Creditor) agrees to instruct all 3 Credit Bureaus (Transunion, Experian, and Equifax), within 10 calendar days, to remove said debt, in it’s entirety, from (my name) credit report.

The following is understood by both parties:

(Creditor) is an agency that regularly purchases debts in the course of doing business.
(Creditor) has the right to report debts to the credit bureaus as they see fit. This right includes changing or deleting a listing they have reported as part of a settlement agreement such as this.
(Creditor) agrees to not discuss this offer with any third party (except the original creditor).
This settlement agreement is not an acknowledgement that (my name) owns this debt.
This is not a renewed promise by (my name) to pay this debt nor does it constitute any agreement unless this document is signed by a (creditor name) authorized agent and returned to (my name) by (date).
This agreement is subject to the laws of (my state).
As per the Fair Debt Collection Practices Act, (my name) has the right to dispute this alleged debt and seek full debt validation from your agency if no agreement is made.





______________________________________
Printed name of (creditor) authorized agent

______________________________________ ____________________________
Signature of (creditor) authorized agent Date

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