How To Successfully Negotiate With Debt Collectors to Boost Your Credit Score

Hey Credit heroes. How would you like yet another tool for solving credit problems? I thought so. Today I'm going to show you how to use Pay for Delete as a way of getting rid of nasty credit problems fast and boosting your credit score. So you better stick around.

So the big question is, how can we take our passion for helping people with their credit and turn it into a successful business without taking loans? Without spending a fortune by bootstrapping it from none, nothing so we can help the most people and still become highly profitable? That is the question and this podcast will give you the answer. My name is Daniel Rosen and welcome to Credit Repair Business Secrets.

If this is your first time listening to my podcast, then you'll be happy to know that every week I give credit repair tips and advice on bootstrapping your business from nothing. So be sure to click subscribe now and get ready to start changing lives. Okay, let's get into this. In the 20 years since releasing my first credit repair software, I have helped thousands of businesses scale from the ground up. I've experienced many of the same challenges that credit heroes face, and I've learned proven ways to overcome them and succeed. Contrary to popular belief, simply paying off your past due debt doesn't get the item removed from your credit report and doesn't necessarily help to boost your credit score either. That's why pay for delete can come in handy. Hey, debt happens, and when creditors struggle to collect from you, they often turn to collection agencies. These agencies often buy your debt for pennies on the dollar, but they still try to collect the full amount of the debt. And that's when they become really annoying. Here's why this is important when communicating with a debt collector, especially one who may be threatening legal action if you don't pay. Your number one goal is to negotiate to get your collections account removed from your credit report. And this can be mutually beneficial. The collection agent is able to collect some of the debt, usually for more than they paid, and you can get the collection removed from your credit report. You just need to use the leverage that you've got. But here's the thing to remember. You don't have to be a master negotiator. The first thing you want to do is something that you don't want to do. Don't under any circumstances admit that you owe the debt, because that could restart the entire statute of limitations clock and you could be dealing with this debt for another seven years. Here's what you need to know. Pay for Delete. Also referred to as pay to Delete or pay for deletion is part of the negotiation process. What you do is you send the debt collector a pay for delete letter and I'm going to give you a template for that letter that you can have for free. You can find a link to our template right over there in the show description. In that letter, you tell the creditor exactly how much you're willing to pay for full settlement. Keep in mind that creditors are rarely willing to accept less than 70% of the total debt. Obviously, offering to pay off the entire debt would make it much more likely that the creditor would accept your offer. And what you're offering is to pay an amount for the debt in return for the creditor to delete the negative item from your credit report. Okay, so once you construct the letter, attach it to an email, or even mail it directly to the creditor, if they accept your payment terms and if they've done this in writing, they then pay what you've agreed and within 30 to 45 days you should see the item come off your credit report and your score should start to go up again. The link to get the letter is over there in the show notes. And if this video has been helpful for you, click the thumbs up button for me so that more people will see this video. And here's my final point. Remember, the pay for delete is part of the negotiation process. So if the collector denies your offer letter, be sure to follow through to find out why. But whatever you do to get this to work, don't make any payment until the collector agrees in writing to the terms of your offer. And I'll end by saying if you still need a credit repair cloud account, check it out. It's a software that most credit repair businesses in America run on. Just sign up for a 30 day free trial at creditrepaircloud.com freetrial and if you'd like to improve your credit score and discover how to earn extra income repairing Credit for others, check out our brand new Start Repairing Credit Challenge. Doors are closing soon and it is completely free. So sign up right now@startrepairingcredit.com and if you find value in the things that I share on this podcast, click below to subscribe and follow. Also, give me a five star review or share the show and help me to change more lives. If you have a question or a comment, drop it down below because I read each and every one of them. I would love to hear from you and and I'll respond as soon as I can so Take care, Credit Hero, and keep changing lives.

Hey, everybody, it's Daniel again, and really quick. I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair cloud community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own, so you can quit your 9 to 5 and fire your boss and have financial freedom, or so you can add another revenue stream to your existing business, if that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own Credit repair business, to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at Credit Repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything. Pause this audio, go online and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com.