Remove Collections from Your Credit Report

Pay for deletes & Settling Accounts

Also there are what is known as “pay for deletes”, when you pay a collector to have the item deleted. This does not apply to original creditors, original creditors 99.99% will not delete charge off even if its paid, they will update it as paid or settled which depending on the age of the collection can hurt or help you.

Call your collectors and ask them to do a pay for delete. If you have the money, have tough skin and are up for a real challenge you can call your collectors and try to negotiate a pay for delete, this means that if you pay the collection, they will delete it from your credit report.

When an item is deleted from your credit report, points are added quickly in almost all cases!

Here are the main points:

  • Start with the newest collections first that you can afford to pay, the newer collections are affecting your credit the most.
  • When you call ask them for the amount you owe them, and offer them 30% and tell them you need it deleted from your credit report. Your chances are 4 out of 10 they will say yes. However most will want 50% or sometimes for 100% of the monies if they agree to the deletion, which is still a good deal.
  • They will not take payment terms; they will want the settled amount
    in full.
  • Ask them to fax you a deletion letter, some will and some won’t.
  • Get the person’s name, rep I.D. number if they have one, extension,
    time and date.
  • In my experience if they accept the pay for delete and you pay them, they will send you a deletion letter and submit the deletion request to the credit bureaus.
  • Send a letter to the credit bureaus demanding they delete the item and include the deletion letter if you have one.
  • Go through your list of collectors until you find one that will pay for delete and that you can afford to pay.