How To Write A Pay To Delete Letter

How To Write A Pay To Delete Letter

In a previous article I explained what a pay for delete agreement was.In this article we will be discussing what a pay to delete letter is. This is simply a letter that tells the debt collectors that you will pay the debt if they agree to abide by your terms. In the letter inform them that you are not admiting that you owe the debt and that you are only paying the debt to resolve the matter. Inform the debt collectors in the pay to delete letter that you will pay 30% of the balance. If they agree to your terms inform them you will have your attorney draw up an agreement and once the agreement is signed you will send the settlement amount.

If the debt collectors refuse to accept the settlement have your attorney file an fdcpa lawsuit against them.If they were unable to show valid proof of the debt before when you sent them a debt validation letter they have no chance of proving it in court. Sometimes the debt collectors will want to settle once they know they are being sued as they do not want to go to court where they could lose. Remember you now have the power over the bill collectors.

When they do decide to settle the debt have your attorney send them a pay for delete agreement to sign. This is a valid contract and if they do not comply they will be facing a breach of contract lawsuit. This is why you need to have an attorney draw up the agreement. When you send the debt collectors a pay to delete letter tell them that you want the tradelines deleted upon receipt of your payment. This will also be outlined in the pay for delete agreement. If you do not get the agreement in writing stating your terms the debt collectors will report it as a paid collection or settled for less than the full amount. This will not raise your scores This will only cause your credit score to go even lower.