Hey there again folks. As I have been reading, I see that it is not a great idea to let the CA come up with there own agreement letter to delete a tradeline in exchange for payment. So I wrote this one. Any comments or changes? ---------------- Acceptance Of Payment Agreement In consideration of the mutual promises set forth hereunder, the sufficiency of which is hereby acknowledged, and agree to the following: Settlement Agreement by and between ____________________________________ of Bottom Feeding Collection Service (Creditor) and Poâ?? Boy (Debtor). Whereas, Creditor asserts to hold certain claim against Debtor in the amount of $__________ And whereas, the parties desire to resolve and forever settle said claim. Now, therefore, Debtor agrees to pay the amount in question of two hundred sixty five dollars ( $265.00 ) with a cashiers check made payable to Bottom Feeding Collection Service, sent via the United States Postal Service, Priority Mail, Return Receipt Requested. In exchange for this payment in full, Bottom Feeding Collection Service will agree to settlement, satisfaction, discharge and release of said claim and in release of any further claims, immediately delete all references to this account, derogatory or otherwise, including any credit file inquiries from any and all credit reporting agencies; i.e. Equifax, Experian, TransUnion, Etc, and provide proof that the entries and credit file inquiries have in fact been deleted. Bottom Feeding Collection Service agrees and accepts these terms and agrees that this letter shall constitute a legally binding contract, enforceable under United States Federal Law, and the laws of the State of Wisconsin. Bottom Feeding Collection Service agrees that the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation. The debtor does not admit liability of the claims made by Bottom Feeding Collection Service or the original creditor. The purpose of this settlement is merely to avoid the potential future costs of verification and litigation. Both parties agree that this settlement for two hundred sixty five dollars ( $265.00 ) of the disputed debt shall be confidential and in no way an admission of liability or acknowledgment that the debt is valid. Both parties agree that no future reporting or verification of the alleged debt shall be provided to any credit bureau. Time shall be of the essence in the performance of this Agreement This agreement shall be governed and interpreted under the laws of the State of Wisconsin This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives. Bottom Feeding Collection Service agrees to and authorizes the terms setforth. Signed this _____ day of _______________________, 20_______. _________________________________________________ ( Creditor )
