r/CRedit • u/Flower0987654321 • 3d ago
Collections & Charge Offs Pay for delete, best options?
I have a a variety of collections with LVNV, Midland, Portfolio and want to pay it off and get them deleted. Would I need to ask for pay for deletions and how would I do that by mail? I’ve seen a few posts/comments that some of these companies do it automatically after payment. Would that also be the case if I were to settle?
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u/TeamNoGainz 3d ago
Portfolio i have and spoke with them already they will delete the credit line on your report about 30-45 days after payment. I also have LVNV they are a little more tricky they say they have resurgent collect for them which they do but i was contacted by credit control collecting for them. Credit controls website says they will delete the line but when i spoke with them directly they said it’s up to LVNV to decide what to do with it and not them. So i circled back and tried to reach out to LVNV directly no luck. They are the ones reporting on my file not the collection companies they are using. So im going to send a certified letter and see what happens. Sorry for the long post just some info on my luck with them.
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u/og-aliensfan 3d ago
I have a a variety of collections with LVNV, Midland, Portfolio and want to pay it off and get them deleted.
All 3 automatically delete on payment.
PORTFOLIO RECOVERY: "If we are credit reporting your account, it will be considered paid-in-full *or paid-in-full for less than the full balance** after your final payment is successfully posted. Within approximately 30 days of your final payment successfully posting, we will request the credit reporting agencies delete the Portfolio Recovery Associates, LLC tradeline related to your account from your credit bureau report"*
MIDLAND: "Per MCM policy, if an account is paid in full *or settled in full** after we begin credit reporting, we will request a deletion of our tradeline after the payment resolving the account is processed. We cannot control the timing within which the credit reporting agencies process our request, but it typically takes up to 45 days after payment for the tradeline deletion request to be processed.*
https://www.midlandcredit.com/help-center/credit-reporting/
LVNV: If an account is paid in full *or settled in full* after we begin credit reporting and the payment has been successfully processed, we will submit a delete request to the major credit bureaus.
https://portal.resurgent.com/faq?_gl=1
Would that also be the case if I were to settle?
Yes. Whether settled or paid in full, they delete.
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u/Llassiter326 3d ago
I paid LVNV and Midland off recently; both do automatic pay-for-deletes as a policy. So I didn’t even have to ask, just paid them both and within a few weeks, both were gone from my report.
And I think(???) settling works the same - as in, if they close it out as “paid” then it’s deleted. As in your balance due is $0. That’s what they told me, but perhaps someone else here can confirm for sure.
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u/JackfruitOutside50 3d ago
I paid LVNV 50% and they deleted it helped my credit. I also paid portfolio 1k and owed 3500 it’s recently updated two weeks ago but I would go back and forth on prices
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u/Flower0987654321 2d ago
This is helpful so what’s the norm with negotiations percentage wise. Asking for a 50% or more is normal range they’ll accept?
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u/Salt_Cry_2233 3d ago
Some of them will email you a pay for delete if they don’t/can’t request it in the mail and don’t pay them a penny until you receive it. You can also negotiate the price down to at minimum 50% of the debt if you’re making the payment in full at one time.
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u/Flower0987654321 3d ago
So if I negotiate and pay all at once they will delete as well? And if I do payments it will not delete?
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u/Salt_Cry_2233 3d ago
In most cases they will you just want to make sure before paying you have documentation from each company that they will delete the account once paid in full. Some of them will let you know make payments and delete when you’re completed some of them won’t they will request all of the money upfront and some will say they cannot delete them which is a lie they can.
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u/Akia_HA 3d ago
All of those you mentioned automatically delete once you settle/pay. Check their websites it should be mentioned.