The other day, I was discussing Premier Pay for Delete with a friend of mine. She had never heard of the term, so I explained that it is a method of dispute resolution in which the creditor agrees to delete the negative information from your credit report in exchange for your payment of the outstanding balance.
My friend was intrigued and asked if I had ever used this method myself. I told her that I had, with mixed results. I shared with her a few stories of times when I had successfully negotiated a Premier Pay for Delete, as well as a couple of times when the creditor had refused.
Overall, I told her, I thought the method was worth trying if you have the ability to pay the debt in full. However, I cautioned her that there is no guarantee the creditor will agree to delete the information, even if you are willing to pay the balance.
If you are considering using Premier Pay for Delete to resolve a negative item on your credit report, here are a few things to keep in mind:
1. You will need to send a dispute letter to the creditor, outlining your request for a Premier Pay for Delete.
2. Be prepared to negotiate. The creditor may not be willing to delete the information outright, but may be willing to agree to a partial deletion or a removal after a certain period of time.
3. Be aware that the creditor is not required to agree to your request. Even if you are willing to pay the balance in full, the creditor may still refuse to delete the information from your credit report.
4. If the creditor does agree to a Premier Pay for Delete, make sure you get the agreement in writing before you make any payments. This will help protect you if the creditor later changes their mind and refuses to delete the information.
5. Be sure to keep up with your end of the agreement. If you agree to make a payment, be sure to do so on time. If you miss a payment, the creditor may rescind the agreement and refuse to delete the information from your credit report.
If you are considering using Premier Pay for Delete to resolve a negative item on your credit report, keep these things in mind to increase your chances of success.
Other related questions:
Q: How do I pay off my First Premier credit card?
A: There are a few ways to pay off your First Premier credit card. You can make a payment online by logging into your account, over the phone, or by mail.
Q: What is the highest credit limit for First Premier Bank?
A: There is no set credit limit for First Premier Bank. Credit limits are determined by a number of factors, including credit score, income, and credit history.
Q: How do I settle with First Premier?
A: You can settle with First Premier by calling them and negotiating a payment plan or settlement amount.
Q: Does First Premier charge a monthly fee?
A: First Premier does not charge a monthly fee.