Pay for Delete... Is that really possible?

Well... I don't have a first hand experience in this regard but I have heard that quite a large number of people go for the option of pay for delete and get rid of the negative information mentioned in their credit report after settlement.

That is exactly my point, people write on the forum that they know it is possible, but have not seen one with first hand experience. If large number of people get rid of negative information how come none of them are posting about their experience.

To be more precise I am interested in pay for delete with banks before charge off NOT CAs.

I think, you may get useful information regarding this issue from the urls given below:
http://www.debtconsolidationcare.com/settlement/boachargeoff-negotiation.html
http://www.debtconsolidationcare.com/settlement/fia-bofa.html

I think a pay for delete is extremely rare. I settled with Citibank, 2 Bank of America accounts, Discover, Chase and HSBC and none would. They would only do a paid for less than amount due, or settled for less than amount due, and that was negotiating with them directly.

"good.nelly", thank you for the urls.... I looked through them and did not see anyone talking about banks agreeing to pay for delete. Maybe I missed something.

Bank of America deleted a paid settlement from my account as a courtesy. I didn't negotiate a pay for delete but, contacted them about a year after paying off my settlement and asked if they would delete the negative entry as a courtesy and they did.

Thank you OhioGal1, that is good to hear. Did they delete everything negative related to this account, including 30 day lates that were reported?

They deleted the entire tradeline. It was as if it never existed.

WOW! That is good to know. I may call them after some time since I was a customer for over 15 years (orig. an MBNA account). Thanks for the info. May try it with all my settlements.

Mine was originally MBNA too. When my ex-husband and I divorced, he continued to use the card but never paid it. They came after me and I ended up settling for about 25%. I waited a year and sent the letter and was amazed that they just went ahead and deleted the whole thing.

I had a wells fargo account in collections that I paid off and it was deleted they even excepted payments and was very nice and willing to work with me. Best collection agency I ever dealt with ERC it was completely deleted from my credit and we only had an oral agreement which at the time I had no idea was not a smart idea. I think it all depends on who the debt is assigned to and how much the debt is for mine was maybe a hundred dollars?