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Pay For Delete Letter Template PDF Free Download
Pay For Delete Letter
When to Send a Pay-for-Delete Letter
It doesn’t always make sense to send a pay-for-delete letter.
While it may not cause any harm in doing so, large financial institutions (such as banks and credit unions) are unlikely to accept requests made using the letter.
Consumers are better off sending a letter to collection agencies for smaller debts.
Furthermore, the following points should be considered before sending the letter:
The debtor is 100% sure the debt is valid.
The consumer should send a debt validation letter to the entity holding the debt to confirm it’s legit.
Collections agencies are required by law to respond within thirty (30) days of the inquiry with the contact information of the original creditor.
If they don’t respond (or can’t provide the information), the creditor cannot report the debt to the credit bureau.
If the debt remains on the report, the debtor can have the information removed by sending a credit report dispute letter to the major credit bureaus.
The debt isn’t close to the 7-year mark.
Negative information disappears from one’s credit report after seven (7) years.
If the debt is approaching this time limit, the debtor can save time and money by waiting until the seven-year mark is reached.
How to Write (Instructions)
1 – The Template Requesting A Delete Of Debt Can Be Obtained Here
The paperwork on this page will serve as a tool to formally request a Debt Deletion.
Download this document in one of three formats: Adobe PDF, MS Word (.docx), OpenDocument
2 – Supply Some Preliminary Information
The Sender of this letter will need to produce some information in the Header of this document.
First, make sure his or her Name should be supplied to the blank line at the top left of this page.
The Sender’s Street Address should be reported on the Address line then, his or her City, State, and Zip Code should be filled in on the two lines below it.
The next task will be to set the Date of this Letter.
Traditionally, this is the date it is signed.
A blank space has been provided for this purpose. Locate the subject of this letter presented in boldface (“RE: In Regards…”).
Several blank lines have been supplied to the “Account Number,” “Original Creditor,” and the “Amount Listed” of the Debt can be reported clearly at the start of this letter.
3 – Supplement The Greeting And Body Of This Letter With Some Requested Items
Open this letter by producing the Recipient’s Name on the blank line after the word “Dear.”The structure of this letter requires the Sender’s Name to be entered on the first blank line in its body.
Make sure this name is presented precisely as it appears in the Header.
Next, using the blank line supplied after the dollar sign, report the Dollar Amount the Sender agrees to pay his or her Creditor in exchange for the forgiveness of the debt the Sender owes.
6 – Supply Additional Contact Information
It is generally recommended the Sender is as accessible to the Recipient as possible.
Thus, record the Sender’s “E-Mail” Address and “Phone” Number on the two blank lines after the sentence “Feel Free To Contact Me Through One Of The Following.
7 – The Sender Must Sign This Letter
The Sender (who owes the debt) must sign his or her Name on the last blank line of this letter.
| Author | – |
| Language | English |
| No. of Pages | 1 |
| PDF Size | 1 MB |
| Category | Form |
| Source/Credits | eforms.com |
Pay For Delete Letter Template PDF Free Download