Pay an additional amount on pay for delete?

[illinoisresident]

I am new to these boards, so I hope you will excuse me if my question comes off stupid!

3 years ago, hubby and I came on hard times financially. We got behind on all our bills-credit cards, mortgage, car loan. 2 years ago things got better. We paid off our car (but there are late payments) and we negotiated about 10 credit cards total. Some we paid in full, some we settled. Mortgage shows lates as well, but we have since sold the home and rent. We are now debt free with excellent income.

I had no idea that something like pay for delete existed, or I would have tried this with the cards I negotiated and paid. My question is, is it too late to try this? What I mean is, say I only paid 1500 of a 2500 card. Can I send a letter stating I will pay an additional amount for them to delete?

The reason I ask is, even though we are debt free and have way above excellent income, we can't get any type of loan. Our scores are around 565. I have 5 good standing, revolving credit cards, so I don't need those. However, we would like to get an auto loan and it's proving impossible without a 25% interest rate. I have tried Lexington Law and they been sending out letters for 7 months without 1 singe deletion. I'm planning on cancelling them. Any suggestions? I have about 25 negatives on both mine and my husbands credits.

Thanks!

[30daylate]

Are you on Lexington's highest level of service? I had them take negative items off for me and other people I know so that sounds pretty surprising. It is really important that you send them the letters that you get in the mail. I know some people don't do that which means that Lexington would be flying blind.

In terms of payment for deletions, what does your credit report say? Does it say that the balance is settled? Maybe the companies don't want to take it off because you didn't pay the full amount but to not have anything removed in 7 months makes me think there must be something else going on here.

I don't think it could hurt to offer the remainder that you owe on original balances with a signed promise to delete.

[Lian]

That type of offer is, in fact, fairly common, and worth the try.

It is what I refer to as a "modified pay for delete," conditional on payment of debt not legally now owed in exchange for CR deletion. It is as much, if not more, or a win for the creditor as it is for you, as it offers to pay them $$ you aren't legally obligated for.

I suggest that you are careful not to ask for account deletion, just the deletion of the old delinquencies. You usually don't want to lose an account in good standing, including its CL and age of account.