Contributed by rbrussell ************************************************************** Dear Sir or Madam: This letter is an offer to amicably settle the above account. It is not to be construed as an acknowledgment of my liability for this debt in any form. I will pay your company the amount of $XXXX as full settlement of this account. If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $XXXX in exchange for a full deletion of all references regarding this account from my credit profile and full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement. Furthermore the debt will be deleted from my credit profile at all three credit bureaus, or the bureaus your company regularly reports to in the course of doing business. If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgment, I will promptly send you a money order or cashiers check in the amount stated above. Notice: This agreement is restricted. This is not a renewed promise to pay, but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor have any concrete written agreements been exchanged. Thank You. I look forward to resolving this matter in the best interest for both of our parties. Creditorâ??s Authorized Signature: _____________________ Date:____________ Name: ______________________ Title : _____________________________
I would just like to ask for a clarification if I may? Will this letter will effectively remove a debt from my record, provided the CA complies? If Walmart (GE Money) sends my cc acct to collections & I don't act with the first agency but do reach agreement with the 2nd, 3rd, or 4th (etc) agency, it is ALL gone? Thank you so much.
Just a little note I would add there is I am also including an restrictive endorsement on the back of the check .
Notice: This agreement is restricted. This is not a renewed promise to pay, but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor have any concrete written agreements been exchanged. Sorry if I'm not following the right thread of info here but you mean "By signing below" correct?
