We were currently pre-approved for a mortgage loan, when we found out my husband has collections on his credit report. One of them is a hospital bill, which we will pay, but the other is for a video store. They charged $690 in late fees. The tape was destroyed, and my husband paid for the tape, but they didn't take it off his account. We are disputing this one not only beccause he paid for the tape, but because it is excessive fees and they never notified him that he owed this money. We are sending a letter to the collection agency to dispute, because the video store is no longer in business. My questions are: Do we send a letter to each Credit Reporting Agency as well, or does the collection agency do this once we get it resolved? When we pay off the hospital bill, will they delete the charge from his credit report? Thanks.
I don't think they can collect MORE than the "COST" of the movie... If you could buy the movie at WAL*MART for $12.97...they could NOT get more than $20.00 out of you!!!
1*What did you say in your letter?You have to watch what you say when writing to them because if you say the wrong thing they will use it against you and hang you with it. I strongly suggest you send them The VALIDATION LETTER found on this board.Send all mail CERTIFIED RETURN REC. 2*Wait a few days after mailing the Val. L. to the CA.before disputing with them. 3* No they will not.You must get payment for deleation in writing before you pay them to get it removed.
We haven't sent the letter out yet. I wanted to get advice before I did, which I'm glad I did, so we will not incriminate ourselves! Where do we get payment for deletion in writing from? Thanks for all of your help so far.
There's a good letter on http://www.carreonandassociates.com It's been so long since I went to that site, I couldn't tell you were to find it. But you could do search here and find the same letter. People have posted it here on this forum. Try to search under "payment for deletion" or any combination that is similar.
Use this letter to send an offer to a creditor. Be sure the statute of limitations is not expired before you promise to pay anyone. Use good judgement and descretion when communicating with collection agencies and creditors. Date: Creditor Address City, State, Zip Re: Account Number Dear Sirs: This letter is to confirm our telephone conversation on (date) regarding the settlement of the above account. As discussed, I will pay your company the amount of $____ as full settlement of this account. Per our agreement, I will send you a money order or certified cashiers check for the settlement amount of $______ in exchange for a satisfactory credit rating 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 rated as we agreed (list agreement) to 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 has any concrete written agreement been exchanged. Creditorâ??s Authorized Signature: _____________________________ Date: ____________ Do not sign or date letter (This is necessary to avoid renewing the debt, should the creditor refuse to agree.)
