does anyone have a good "pay for deletion" letter for collection agencies? what is the best way to go about this? my report is SLOWLY getting better, but i have a few accounts in collections that i can pay in full for deletion. i just want to make sure i dont get tricked into paying and not getting deletion. thanx
Dear Scumbag: I Pay you Delete tradeline completly..Not update.. DELETE.. Please send a argeement letter on your company letterhead agreeing to the previous statement. Sincerly The guy your doing raw.. Joe Consumer
There is a book I once read published by NOLO Press (spelling?) on debt repair that had a form letter you could send with a certified check that locked the recipeint into a contractual obligation to delete a debt from a credit report if they were to cash the included check. I always thought this was a great idea as what is more compelling than having the actual check sitting there right in front of the creditor or collection agency? It is strange because I have not ever seen mention of this strategy on the boards. I was tempted buy the book from Nolo as it is available online, but I have no need for it now. Perhaps somebody would like to check into it? Of course there is some risk involved with their strategy. Any thoughts on this?
Ive used this strategy 2 times. Worked both times. There are a couple of names for it. One is an A & S letter...forget what it stands for. lol. The other is an actual contract written in a letter and on the check. BUT....in some states, the creditor can cross this out and deposit the check anyways. bbauer has info on it and umm....I think jlynn does too. Like I said, it depends on the state you're in on what you can do.
I believe this is called a restrictive endorsement or as known on this board the WestCap endorsement. If you do a search you can find some information regarding it. Does not work in all states from what I understand.
Re: Re: pay for deletion letter? Thanks Touchdown. I found the original post and reposted it here. The link to the entire original thread is at the bottom. Also, you are right about it not working in every state from what I remember reading in the Nolo Press book (years ago). They had a letter that addressed the problem though. I think one of the States in question was California? WestCap | 38 posts since Sep 2001 66.1.185.138 | 11.22.2001 @ 18:58 Hello Again, Let me give you my perspective on this matter as the owner of a collection agency and the buyer of consumer credit debt. When we make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. Why am I taking the time to tell you all this? Because I want you to know how it really is. I have been where you have been and I used to be a high profile credit restoration "master", charging up to Ten Thousand Dollars to fix peoples credit. I no longer have the time of desire and after having watched this board for over 8 months and having interacted with BREEZE, I feel it is my MORAL obligation to help you! Another suggestion.. Go to Office Max and have a rubber stamp made (make sure that it will fit on the back of a cashiers check size) that says: CASHING OF THIS CHECK REPRESENTS PAYMENT IN FULL TO WHOM THE CHECK WAS ISSUED. CREDITOR AND/OR ITS ASSIGNEE, AGENCY, COURT, LAWFIRM AGREE TO REMOVE ANY AND ALL DEROGATORY INFORMATION PREVIOUSLY REPORTED AGAINST SAID ACCOUNT BY SAID FIRM AND BY SAID FIRMS ORIGINAL CLIENT AND CREDITOR WITHIN 10 DAYS FROM THE DATE OF TENDER. TENDERING OF THIS INSTRUMENT SHALL INDICATE ACCEPTANCE OF THESE AMENDED TERMS OF THE CARDHOLDER AGREEMENT BETWEEN THE PARTIES. VOID IF RIGHTS RESERVED This stamp is the most valuable weapon that you will ever own. NEVER PAY A COLLECTION AGENCY. LAW FIRM OR COURT JUDGEMENT UNLESS THIS IS STAMPED ON THE BACK OF YOUR CHECK! This gives you the "slam dunk" proof of the amendment and agreement. The bottom line is if they cash the check, the deal is done, and then it is simply a matter of forcing compliance to the agreement. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&threadid=16211&highlight=WestCap
Re: Re: pay for deletion letter? can this information be put on a money order? I just hate for these jerks to have any of my bank information whatsoever. Cashier checks give a clear indication of your bank location...is my reasoning
Re: Re: pay for deletion letter? ryder When we (Re CA) make the purchase or servicing transaction, we receive a power of attorney that gives us the inherit rights under the original cardholder agreement. We have the ability to "bind" the original creditor in certain situations. This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. WestCap =========================== Some one was asiking a while back about getting the oc to delete in addition to The CA. Don't know who the poster was or on what thread they posted but here is your answer!! This gives us the right to settle an account and REQUIRE that the original creditor, such as Citibank, MBNA, Household etc. remove the original trade line and OURS. The END ************************* LB 59
Re: Re: pay for deletion letter? anybody know where to look to see what states this won't work in? -0m
Re: Re: Re: pay for deletion letter? Should I try this on a money order to the state when making the full payment on a tax lien?
Re: Re: Re: pay for deletion letter? Has anybody used a restrictive endorsement (WestCap endorsement) and the check was cashed but the bad entry REMAINED? I'm sure its just a matter of writing letters to clear that up, but I wondered if it is difficult/takes a long time. Also, do you recommend sending a letter first saying "I plan to send you a restrictive endorsement"? Or just send the check with the restirctive endorsement and a letter explaining how its gonna work? Thanks. peace, delilah
Re: Re: Re: pay for deletion letter? Yeah, I can't remember where I read it but it does you should NOT send a personal check or cashier's check from your own bank to do this. They could decide not to cash the check and instead seek a judgment against you and then wipe out your checking account.
Re: Re: Re: pay for deletion letter? After reading the original thread, how was the problem of the required text not fitting on the check ever solved? Did Westcap provide a scannable copy to take to Office Max? If so, where can I find that? Thanks Luke
