Pay For Delete (PFD) - Simple Debt Negotiation

The “Pay for Delete” (PFD) is not the only way to negotiate debt, but it should be. The PFD is a letter that is drawn up by the debtor to initiate settlement negotiation on a past due debt. The key phrase here is “drawn up by the debtor.”

The reason why this phrase is so critical is because as a debtor, your #1 goal is to be the negotiator of your own terms. The PFD letter allows you to negotiate repayment of your debt on your terms, and not the bill collectors.

It is important to remember that you have what they want, and that’s money. That’s what it all comes down to. Debt collectors just want to be paid, and it is up to you to convince them that your offer of payment is better than no payment at all.

In creating the PFD letter, the goal is to offer to settle your debt on a lesser amount than the collection letters demand for payment. In exchange for your payment, the collection agent will agree in writing to remove all derogatory reporting of the debt from the 3 major credit bureaus.

Some collection agents will tell you that they cannot do this or that it is against company policy. They are lying. They can negotiate any debt that they choose to, they just want to keep the odds in their favor because they get paid on commission. The more they collect from the debtor, the more money they make.

How much should you offer?

Collection agents usually purchase old debts for pennies on the dollar, so any payment made is a major bonanza for them. Often times at over 1000% profit. Keeping this in mind, I suggest offering no more than 33% of the debt since most of it is overinflated interest and late penalties and is far more than your original debt. The maximum I would offer to pay is 50% on debts over $1000.

In the case of small debts around $100 or so, it is okay to offer to pay the entire balance in full, but ONLY in exchange for them agreeing to remove the negative reporting from your credit report. DO NOT send payment until you have received this agreement in writing!


When sending payment, be sure to send it via cashier’s check or money order. Never pay with a personal check or credit card as they can use this information to withdraw more money from your account than what was agreed upon. It is much better to be safe than sorry!

Be sure to always send your PFD letters from the post office via certified mail, return receipt requested. This typically costs just over $6 per letter. By doing this, you will have verification of delivery as well as confirmation of who signed for it.

Due to great demand, my highly successful PFD LETTER is only available via $5 donation!
Simply make your request in the comments section below and use the donate button on the right to receive an exact copy of a PFD letter that I have successfully used in the past to negotiate several outstanding debts. Follow-up advice, if needed, is included with your donation.

**Donations help defray miscellaneous costs such as upgrades not covered by standard hosting.


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Cast Your Vote In Our Poll

I created this blog almost a year ago and I couldn’t be happier with the direction that it is currently moving in. It was derived out of a love for writing, combined with a personal knowledge of credit and finance.

Everything that I blog about comes from personal experience and is taken right off the top of my head with next to zero research needed because the experiences that I write about are all my own.

I work very hard to bring my readers topics that anyone in financial crisis might find useful. I encourage comments and feedback on all that I blog, but to date, the comments have been very few with the exception of just a few posts.

In an attempt to gain more feedback and a greater feel for what my readers think of my blog as a whole, I have added a poll as the latest upgrade to the site to help gauge the temperature of my readers and to assist me in the overall direction of my blog.

Comments are great and will always be welcome but your participation in the current as well as future polls would go a long way towards helping me bring you the most useful and up to date information going forward.

Whether you’re a returning visitor or brand new to my blog, please take a moment to read a few posts and leave me your honest feedback. Blog ratings are based on a scale of 1 to 5 stars, with 5 being the best and 1 being the worst.

Thank you in advance for your time and participation!

** Catch a sneak peek of my newest blog here! 

Top 10 Most Viewed

In case you haven’t noticed, I’ve recently added a “Top 10” list to my blog as I was curious to find out if the list was random or if it was a true metric of how many times each post was actually viewed.

Initially, I was skeptical as to how accurate the list would be until I checked my internal blog settings and verified that the list did in fact show the “most viewed” posts from day one of the blogs inception.

To my surprise, some of my better articles did not make the list but from watching it carefully over the last couple of days, I did notice that the #10 item on the list was recently replaced by another post, which means that post positions are being calculated and updated on an continuous basis.

Further examination of my blog stats indicate that the top 10 posts are getting way more views than they normally would if not for appearing on the list. Typically, they’d be hidden in the blog’s archives until stumbled upon or discovered during a random search.

I also noted that the #1 post has about 600 more views than the post currently residing in the #2 position, which is the largest gap by comparison to the remaining 8 posts on the list.

This metric tells me that it will take an awful lot of work to bump the #1 article completely off the list, so stay tuned and check back often... I’ve got some serious work ahead of me!

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Secured Credit Cards

We’ve all been there. Good intentions + bad circumstances = bad credit! The next thing you know, you find yourself in need of credit but no one is willing to grant you any. It is quite the conundrum.

How do you combat this? With secured credit cards, that’s how. Yes, no matter how bad your credit rating is today, chances are, you will qualify for a secured credit card.

A secured credit card is funded and secured by your own money. You are required to deposit money into a savings account that is held as security to back up any purchases you make to minimize a financial institutions losses in the event that you default on your obligation to pay back the debt.

Several banks and financial institutions offer secured credit cards with varying terms and interest rates. In the future I will profile some of the best secured credit cards available.

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Don't Sweat the Small Stuff!

Far too often we focus on the little things in life and ignore the much bigger picture. By this I mean that we put way too much emphasis on small things like bill collectors ringing your phone and harassing your family when you're not home.

The reality is that if you’re not about to get evicted from your home or your car isn’t on the verge of repossession, then it’s "ALL" small stuff. Save stress for issues that matter. Don’t waste it on little things. Those little things are quick to blow over no matter how terrible they may seem today.

We have bigger things to worry about, such as our health and the health of our loved ones. Cancer runs on my dad’s side of the family and we’ve lost a few family members to the disease. Armed with the knowledge of our family history I try to exercise and eat right but all in all it’s still a crap shoot, so don’t sweat the small stuff… Just live!

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Keeping up with the Joneses

In today’s society, we have a “keeping up with the Joneses” mentality. Everything you have, your neighbor wants and everything your neighbor has, you find yourself wanting a piece of it too… and it’s the same when it comes to credit.

I have tons of friends who have better credit than I do and that’s fine. The way I see it, it is what it is. I keep no secrets about my credit rating. For all intents and purposes, it sucks, but it’s a process and I’m working on it.

Sure, you can focus on the haves and the have-nots, but I choose to focus on where I’m at right now and right now, I’ve got some work to do! All I can do is concentrate on rebuilding my credit one step at a time. Keeping up with the Joneses will only result in you being as broke as they are!

“Your time is limited, so don’t waste it living someone else´s life.” - Steve Jobs