Does my settlement letter reaffirm?

I've adapted the following from other settlement letters I've seen on the board, I think from Lizardking, but don't remember for sure.

Could those of you who know the ins and outs of reaffirming a debt, take a look and make sure I haven't used any language that could cause me a problem.

This is for a $46 unpaid water bill from 5 years ago, the SOL is 3, so paying the the bill is a non-issue, I just want to be rid of the negatives.

Thanks for any input.

DemPooches


Page 1

June 24, 2002

OLD ADDRESS Water District
Address
City, State Zip

Dear Manager,

Recently, I found a collection entry on my credit report from Collection Agency #1 in my state, which referenced your company as the original creditor.

After I contacted this company, the entry on the credit report disappeared, but was replaced by an entry from Collection Agency #2, same town in my state which appears to be referencing the same account in the name of DemPooches Old Name Old Name. (last name repeated in their records).

I have requested validation of this debt from both Collection Agency #1 and Collection Agency #2 and as yet have not received a response to my validation request from either company.

As best I can tell, this appears to be from a September 1997 water bill amounting to $46.50. This is not a bill I ever received.

This is an attempt to amicably settle this matter. It is not to be construed as an acknowledgment of my liability for this debt in any form.

Frankly, the amount of money involved is not significant and even though the statute of limitations has long since passed for collecting these funds, I would have no objection to mailing a cashiers check or money order in the amount of $46.50 to your company in return for full and permanent deletion of all entries from Collection Agency #1, Collection Agency #2, and OLD ADDRESS Water District on my Equifax, Experian and Trans Union credit reports.

Here is how I analyze the situation:

You would like to collect monies from an old account which are currently not collectable since the statute of limitations has long since passed.

I have negative entries on my credit reports which I would like to have removed.

My offer will allow both of us to achieve the desired results.

If your company agrees to these terms, please sign the agreement on the following page and return it to me. I will then mail to Water Co Address, a cashierâ??s check or money order in the amount of $46.50 payable to OLD ADDRESS Water Department.

This is not a renewed promise to pay but rather a restricted settlement offer only.

Sincerely,

DemPooches


Page 2


The following is an agreement between DemPooches, a resident of My County, My State and OLD ADDRESS Water District a company doing business in Their County, My State.

This agreement is an offer to amicably settle the above account. It is not to be construed as an acknowledgment by DemPooches of liability for this debt in any form.

DemPooches will pay OLD ADDRESS Water District the amount of $46.50 as full settlement of this account.

If OLD ADDRESS Water District accepts this agreement, DemPooches will mail a money order or cashiers check for the settlement amount of $46.50 in exchange for full deletion of all references regarding this account from the credit profile of DemPooches by OLD ADDRESS Water District, Collection Agency #1 and Collection Agency #2 and full satisfaction of the debt. All references to the debt are to be deleted from the credit profile of DemPooches at all three credit bureaus, Equifax, Experian and Trans Union or the bureaus the above-referenced companies regularly report to in the course of doing business.

This agreement is binding and should OLD ADDRESS Water District fail to follow through with the required deletions within 30 days of receipt of payment from DemPooches, OLD ADDRESS Water District agrees to reimburse DemPooches for any attorney fees or related expenses incurred by DemPooches in the enforcement of this agreement.

This is a final offer. Since the statute of limitations for collecting this debt has long since passed, should OLD ADDRESS Water District decline to accept this offer within 15 days of receipt of this letter, the offer will be rescinded and no future offer will be made.

If OLD ADDRESS Water District accepts this settlement agreement, it is to be signed and dated below by an authorized representative of OLD ADDRESS Water District and returned to DemPooches, My Current Address. Upon receipt of the signed agreement, DemPooches will promptly mail a money order or cashiers check to OLD ADDRESS Water District 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. If not signed below by an authorized representative of OLD ADDRESS Water District, OLD ADDRESS Water District agrees that the debt has not been renewed nor has any written agreement been exchanged.


Authorized Signature: _____________________________ Date:____________

Printed Name : __________________________________ Title : _____________________

 

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