I am negotiating with a collection agency over payment of around $2500. Talking on the phone with them, it seems that I can't get an unequivocal "yes" to delete their entry from my credit report on all 3 credit reporting agencies.
I seem to get a wishy-washy "once the payment is in, a process takes over... blah, blah."
So I've heard about the "Pay to Delete" letter. A sample is available here. It basically states the conditions of repayment and that they will delete the debt from the credit counseling files.
Is it worth anything? Is it legit?