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I Would Gladly Pay to Delete My Negative Credit Report Entry

“Dear Steve,

Chargeoff with closed Lowe’s credit card from 1/2011 they sold to Portfolio Recovery. Showing on Experian as CO from Lowe’s and Collection, paid less than in full from Portfolio. I negotiated payment with Portfolio but did it before knowing to ask for “pay for delete”. Disputed with BBB as junk debt buyer not authorized to list it…denied.

I would gladly pay a flat amount to an attorney or company AFTER a full removal of the tradeline from the CRA’s. Is there such a company available? I’ve been a client of Lex Law and they have done a few things but can’t get this deleted. I don’t want to pay monthly service fees, just a one-time payment after results.

Thanks for your review/advice.


credit good narrow

Dear John,

Pay to delete is a suckers game. What’s the point?

The credit repair folks just dispute it in hopes it will get deleted because the creditor did not respond in a timely basis. That does not prevent it from being listed again the next time the creditor dumps their data. They can’t tell you they can delete it if it is accurate information. That would be illegal.

Besides, if you knowingly remove an accurate but negative item and then apply for credit, you are committing credit fraud. So again, what’s the point?

The best way to deal with this is to make sure current unsecured credit is being reported about you from a Visa, MasterCard, American Express or Discover. Make sure you do a great job paying your account and the more good credit and time that passes from when you were delinquent, the less it will matter.

See The Get Out of Debt Guy Free and Easy Credit Repair Guide for more details on what to do.

The junk debt buyer is allowed to list the purchased debt.

There is no reason to waste money paying someone else on this item.

Please post your responses and follow-up messages to me on this in the comments section below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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