06/23/2022
Debts remain on our credit report for 7-10 years. The Pay for Delete letter asks the creditor to remove the negative mark sooner once you pay the agreed amount.
Not all lenders will agree to this, but it's always worth a shot especially with creditors such as old phone bills, utilities or cable bills.
Key tips‼️‼️
1. Request a Debt Validation Letter PRIOR to making any payment arrangements. Once verified, then send the Pay for Delete letter.
2. If the debt is nearing the 7 year mark, just wait for it to fall off.
3. SAVE ALL CORRESPONDENCE RELATED TO THIS AGREEMENT FOR YOUR RECORDS.