Opinions on ‘Pay to Delete’?
I’ve heard very drastic mixed opinions on pay to delete negotiations. I have 2 collections on my report, one is paid off but still sitting on my report, and the other is open but owned by a collection agency that is well known for doing pay to delete.
The opinion I’ve heard is that pay to delete is good and removes the collection off the credit, but the other side says NEVER admit to any collections, as it has negative legal repercussions and keeps the collection on the report even if it’s paid.
These two collections are seriously holding me back and putting me in a bit of a dire situation. My landlord is absolutely price gouging me, my lease is up soon, and I have good odds of being approved for a rural direct housing loan - but I NEED these collections off my account in order to be approved.
I would love any real world and real experience advice on getting these collections removed while I continue to do my own research. I just want to do the right (and safest) thing with this problem.