Stellar Snippets
The pay-for-delete method may or may not have a significant impact on your credit report or credit score.
It is a negotiation technique where you offer to pay off debt in exchange for removing negative items on your report.
While the pay-for-delete method may not actually harm your credit score, it may not improve it either.
The most recent credit scoring models do not consider paid collections accounts.
Therefore, paying off a collection account may not actually have a significant impact on your credit score.
Additionally, recent accounts are more harmful to your credit score and report than older ones.
Collection agencies are supposed to report accurate and complete information to the major credit bureaus.
Pay-for-delete is not considered totally above board and credit reporting agencies usually discourage the practice.
Keep in mind that the impact of pay-for-delete on your credit score varies based on your overall credit profile.