Pay for deletion... twice?

[pandamonium]

Just to restate, I have not done a BK however this forum has been invaluable for rebuilding credit tips.


I loved the idea of a pay for deletion for items on my credit report that are bad or have been charged off. However, if an original creditor charges off my account with them and then sells it to a collections agency, will I then have to do a pay for deletion with the original creditor and then again for the collections agency?

This isn't worst case scenario as all my bad accounts are < $1000, and with negotiating 25% - 50% to both creditors I should still not end up having to pay full price for the charged off amount. Just planning my credit rebuilding strategy and am currently assuming this is what I'll have to do.

Thanks!

[df04527]

The pay for delete idea is a great one when it works. i have seen it work primarily with collection accounts however and then not in all cases. Some of your smaller debt collector outfits might agree to do it. I have to think hard to remember if i have ever seen an original creditor agree or a large collection firm.

I also looked to see if the balance owed had anything to do with it but that answer was no so my speculation is some smaller collection outfits may consider.

The main reason the bigger outfits won't agree to it (especially in writing) is because their training the bureaus require for use of their esystem says do not do this as the law states the account will report 7 years from DOFD. At least that is my speculation. Hth

[SMinGA2]

If creditor A sells your account to company B, then you can't 'pay for deletion' to creditor A. You no longer owe them anything.