Another pay to delete question

[idonthaveaname]

1. What if you find after 30 days of paying they haven't deleted? Do they generally comply with the requests. I wouldn't want to have to go suing the companies.

2. What is generally a good settlement amount % ( 40-60%)

Any advice would be great

[Lian]

You should not send any payment with a PFD offer.
A pay for delete offer is just that... an offer that they can accept, reject, or just ignore. Until you have a signed acceptance of your offer, it does not requrie binding legal compliance on their part. Sending money with a PFD is very dangerous, since they could just deposit it, and consider it to be a payment with no expressed obligation on their part to then delete their credit reporting. Then a legal battle can entail. Get acceptance before payment.

You cant force another party to accept a contract offer. Failure to respond to a PFD offer is not grounds for legal action against them. In fact, for a credtior or debt collector to accept a PFD offer, they would be acting contrary to their reporting agreements with the CRAs, one of which is an agreement not to delete accurately reported information based on payment of the debt. They are on sound legal basis by refusing to accept.

How much to offer in a PFD depends on the circumstances. If you are still within SOL, they hold the cards, and will usually requrie a higher PFD amount. However, if the debt is outside of SOL, they have lost much of their leverage, and may accept a lower amount.

[idonthaveaname]

Originally Posted by Lian

You should not send any payment with a PFD offer.
A pay for delete offer is just that... an offer that they can accept, reject, or just ignore. Until you have a signed acceptance of your offer, it does not requrie binding legal compliance on their part. Sending money with a PFD is very dangerous, since they could just deposit it, and consider it to be a payment with no expressed obligation on their part to then delete their credit reporting. Then a legal battle can entail. Get acceptance before payment.

You cant force another party to accept a contract offer. Failure to respond to a PFD offer is not grounds for legal action against them. In fact, for a credtior or debt collector to accept a PFD offer, they would be acting contrary to their reporting agreements with the CRAs, one of which is an agreement not to delete accurately reported information based on payment of the debt. They are on sound legal basis by refusing to accept.

How much to offer in a PFD depends on the circumstances. If you are still within SOL, they hold the cards, and will usually requrie a higher PFD amount. However, if the debt is outside of SOL, they have lost much of their leverage, and may accept a lower amount.

Thank you for the reply, but I think you misunderstood my question. I would never send a payment with an offer to settle, since its simply an offer. I was asking if the settlement is accepted, I paid the money, and I did not see the deletion occur.

[Hal Jordan]

Do you have the signed PFD agreement then? If so then I would call them or write them asking for a specific timeline. You should remind them of their agreement.

Some CA's only report once per Month to the credit bureaus so they may way to delete it until that date so if you're close to that it may take them almost 30 days to remove it and it could take the CRA's a week or so on their end to remove it.

I would definitely call the person who signed your PFD and ask them for a timeline. You should have gotten a timeline in your PFD agreement. If you did you need to remind them of their signed legally binding agreement. But as I always say. Be nice but firm. You won't get nearly as far if you call up acting all hard instead of being polite and friendly.