Any Pay for Deletion Letters?

Here is one that I have used before with success:

April 15, 2002

Collection XX
XXXX
XXXXX, CA 9XXXX

Re: Account Numbers: 1xxxx89, 1xxxx171, 1xxx84, xxx4xx7, xxx2xxx3, xx11xxx

Attention: xxxx


Dear Mr. xxxx:

This letter is to confirm our agreement regarding the settlement of my debt with Collection xxxx that I owe.

As discussed, I will pay Collection xxxxx $x,xx8.x3, the full principle, for my accounts with Collection xxxxx.

The following is a breakdown of the accounts and what I am paying for each:
Account Amount to be paid
xxx1xx9 $4x6.85
xxxxx71 $399
xxxx174 $1xx2.xx
xxxx167 $x42.xx
xxx41x $325.33
xxxx2903 $xxx2.20

The settlement of $x,xx8.x3 will constitute payment in full for the above accounts.
Upon receipt of the above accounts, Collection xxx agrees to notify each of the credit bureau to which You report credit information that any adverse credit information regarding my accounts with you is no longer verifiable and should be deleted from my credit report.

If you agree to the foregoing terms and conditions, please sign the Agreement and return a copy to me. Upon receipt of this signed agreement, I will immediately forward you a cashierâ??s check in the amount stated above.


Date:_______

__________
Cinderella
My addy
xxxx city, CA 9xxxxx

Accepted and Agreed
By:________________________
Name:
Title:
Date: _________________

Account Numbers: 1xxxxx98, 1x6xxx1, xxx77xxx4, 1xx967, 22xxxx3, xxxxxxx2


You can also send this letter even if you have not spoken with creditor about agreeing to the settlement. If they sign it and mail it back to you, then they agree.

And here is yet another letter that involved only one account:

April 16, 2002

Collection xxxx
xxxx Street
Modesto, CA 95354-1011

Re: Account Number: xxxxxx1

Attention: xxxxx


Dear Ms. xxxxlo:

This letter is to confirm our agreement regarding the settlement of my debt with Collectionxxx that I owe. This account should not have been billed to me but the insurance carrier. The emergency room of x hosptital was aware of this when I filled out my paperwork. If X Hospital had no intention of billing the carrier, they should have notified me. Further, I have had a substantial amount of medical surgery and treatment during the last few years, most of which was paid by my insurance. I did not realize this particular account had not been paid.

As discussed, I will pay XX collection Cthe full principle plus interest, for my account with xcollection.

The payment of $xxxx.41 will constitute payment in full for the above account.
Upon receipt of the above accounts, xxCollection agrees to notify each of the credit bureau to which You report credit information that any adverse credit information regarding my accounts with you is no longer verifiable and should be deleted from my credit report.

If you agree to the foregoing terms and conditions, please sign the Agreement and return a copy to me. Upon receipt of this signed agreement, I will immediately forward you a money order in the amount stated above.


Date: ___________________ ___________
Cinderella Date
My address
xxxxx


Accepted and Agreed
By:________________________
Name:______________
Title:_________________
Date:________ Account Numbers: xxxx861

Also, you may want to change my wording of SETTLING ACCOUNTS I OWE to >>> SETTLING ACCOUNTS I ALLEGEDLY OWE. I don't know your situation w/ these accounts, but you don't want to admit to something that is not yours and jeopardize your chances of validation.

 

I would also recommend that you put in the memo line of the check "conditions apply, see reverse." Then on the reverse of the check type "

By accepting this payment xxx company agrees that:
1. The alleged debt is paid-in-full.
2. The tradeline from xxx company shall be forever deleted from all credit reporting agencies."

Take a copy of the check before you send it.

On the one instance where I did a pay for delete, I had to remind (with a copy of the canceled check with the above notation) the creditor then they deleted.

Also check your state laws regarding restrictive endorsements.

NV Bone Doc

Member of the 670 club

True health comes from within

 

I don't really think the above sample deletion letters fall into the restrictive endorsement category. With RE's, a debtor generally sends only a check to a creditor. On the back of the check, the debtor places some sort of an accord and satisfaction on the debt, usually something to the effect of cashing the check is considered payment in full, and whatever other conditions a debtor might write on the check, such as a stipulation to delete account.

With the use of RE's a creditor could lose the right to collect the full amount of a debt (valid or not) by simply cashing the check, which is almost always a partial payment for the full amount of the debt. Each state has their own version, which vary. Some states allow RE's, other do not. In California, you are required to write the creditor telling them you will be sending a RE check before you can even send the check in.

However, sending the creditor a settlement agreement letter is not the same thing as an RE. You are asking for the creditor to agree to certain terms relating to the debt as a condition of payment, and if the creditor agrees to the proposed settlement, they are required to sign the agreement and mail it back to you. In which you follow your end of the agreement by promptly paying the agreed on amount.

When I received the signed agreement letter back from the CA's, I always included a copy of the agreement and a note on the cashiers check stating: AS PER OUR 04/12/2002 agreement.