Pay for Delete
An agreement where a debt collector agrees to remove a collection account from your credit report in exchange for payment. Not guaranteed and not universally accepted. The FCRA allows accurate information to be reported, so collectors are not required to delete accurate entries. The original creditor almost never agrees to pay-for-delete.
Related guides
- Full credit & FICO® glossary
Browse all defined terms by category.
- Collections
When a creditor turns an overdue debt over to a collection agency after the borrower fails to pay. Collection accounts are reported to credit bureaus and remain for seven years from the original delinquency date. Paying a collection removes your legal obligation but typically doesn't remove the account from your report.
- Debt Collector
A person or company hired to collect debts owed to creditors. Third-party debt collectors are regulated by the Fair Debt Collection Practices Act (FDCPA), which prohibits abusive, unfair, or deceptive practices in debt collection.
Frequently Asked Questions About Pay for Delete
What does Pay for Delete mean?
An agreement where a debt collector agrees to remove a collection account from your credit report in exchange for payment. Not guaranteed and not universally accepted. The FCRA allows accurate information to be reported, so collectors are not required to delete accurate entries. The original creditor almost never agrees to pay-for-delete.
Is Pay for Delete important for my FICO® score?
Understanding Pay for Delete helps you manage your credit profile more effectively, which in turn supports a stronger FICO® score.