After reading J Edgar's post I have decided to draft this letter and send it to the collection agency. Can you all give me your opinion if it and let me know if the wording is correct and if I left anything out?? Debt Settlement Letter Inovision 625 US Highway 1 STE1 Key West, Florida 33040 Account reference: Dear Sirs, I am writing concerning an account that was placed with your agency, this was a former utility bill that we had never received due to moving out of state and this never seemed to get forwarded with our mail. I would like to offer a settlement for the full balance of this bill $246.00 , in exchange for the settlement of this debt, you agree to a non-disclosure agreement, you will not disclose the terms of this settlement or anything else regarding this account.This agreement is binding and will be void should you not hold up to your end of the agreement. I f you agree to the above settlement , please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgement, I will promptly send payment for the amount stated. Creditor's Authorized Signature:____________________________ Date:_______________ Name:_______________________________ Title:________________________________
Roni Well I combined what J Edgar has said with a settlement offer from kristi's site. What you u think Roni, good or bad??
RE: Roni Well, I think you should directly state, they will delete the item from your credit report. That's what I have in my form letters. Did you read the form letters at the website I directed you too. Huh? Im not knocking J edgars letter though. Also you first paragraph is a big run on sentence. That's the teacher in me slipping out.
RE: Roni Thanks for your input, I guess I could try to settle for total deletion in the first letter, I have gotten nowhere by phone and if that does not work then I will try this draft and cut my first paragraph extremely short
RE: J Edgar and all, please lo Hi Mom: Glad to see you're ready to act and kick some @$$! I'd make a few changes though: 1. Eliminate the first paragraph, as it is damaging. At least in some states, a written acknowledgement of debt RESTARTS the time period for SOL purposes! Which increases their leverage and motivation to say no. Re-phrase the first paragraph so that it says this is NOT to acknowledge that the debt is yours, and that out of goodwill you're making a settlement offer that will expire in 45 days. 2. Tell them upon rejection/ expiry of the settlement offer, they'll be sent a Cease & Desist letter pursuant to the FDCPA. 3. Instead of asking them to sign on your own letter, it is more acceptable (and better for you) to require they send you a letter of their own on company letterhead, signed by an authorized officer of the corporation. Hope this helps. Saar
RE: Hold up Mom. Well actually no, I saw they last updated his reports on Sept 00, so I am thinking they will verify or could I be WRONG??? So I guess dispute the darn thing first, I know DUH
RE: Hold up Mom. Yes, mom you need to try disputing first. Dispute the account as not yours. Simple enough. Wait 30-40 days for an answer and then send out a letter. I wouldnot send the letter you have though to be honest. Let's work on a better one. did you read the one i posted a quality repair. I like that one. I says i allegedly owe the money. And it says to delete the damn thing. Also mom, I had a debt removed after I paid it. That is the absolute last,last, last resort. But for me Paying the debt and then the collection agency didnot care and did not respond. I am only telling you this to give you hope that you may be able to walk into the mortgage co. with this off your report even if the power co. doesnot accept the payment. Dont you dare pay the debt without more attempts at settling and disputing with the credit bureau at least twice. Dont you dare pay these people mom. Please dont pay them. I dont want you to miss understand this situation. I will have this on my chest if you pay without exhausting the other avenues first. Ok, bye.
RE: Hold up Mom. Thanks Roni, I just requested his Trans Union report b/c I believe that is listed under the orginal utility company and I know for a fact that the last day of activity is WRONG, it stated 3/98 instead 12/95, so when I receive this I will dispute and I am off to Equifax now And thanks again and BTW I did read that letter, very well written
RE: J Edgar and all, please lo This is a small debt and should be easy to rectify. How about this format too for further protection. Mom, this letter is lengthy and I have provided it that way so that you may pick and choose portions or use it in entirety. I find this letter to be quite effective because you are notifying them up front that your no dummy and you will be literally cutting out wasted time with their bogus replies of 'We cant do that'. If their reply is not favorable then at least you will find out quickly. In Re: Your name & Account # Dear Collection Manager: It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. While I have yet to have the debt verified to me as legitimate through my right of the mini Miranda, I can however save us both some effort & time by "Settling the debt out". Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that your agency regularly purchases debts in the course of doing business. Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt. I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that you will report the debt as mentioned below. While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all. Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt. My goal is to arrange a term acceptable to both us since this debt is questionable. I will pay your company the amount of $xx as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to change the entry on my credit reports to Paid, no lates. You further agree to remove all previous notation of delinquency. If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation. Upon receipt of this signed acknowledgment, I will immediately mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made and the offer will be void. Name of Creditor: Signature of company officer Date Sincerely, Name Address Social security number Do not sign your name! Momof3 wrote: ------------------------------- After reading J Edgar's post I have decided to draft this letter and send it to the collection agency. Can you all give me your opinion if it and let me know if the wording is correct and if I left anything out?? Debt Settlement Letter Inovision 625 US Highway 1 STE1 Key West, Florida 33040 Account reference: Dear Sirs, I am writing concerning an account that was placed with your agency, this was a former utility bill that we had never received due to moving out of state and this never seemed to get forwarded with our mail. I would like to offer a settlement for the full balance of this bill $246.00 , in exchange for the settlement of this debt, you agree to a non-disclosure agreement, you will not disclose the terms of this settlement or anything else regarding this account.This agreement is binding and will be void should you not hold up to your end of the agreement. I f you agree to the above settlement , please acknowledge with your signature and return a copy....
RE: J Edgar and all, please lo ....The rest of the samples are at http://www.carreonandassociates.com/sampleletters.htm As time permits, we are adding more to the resource center. I know some people get lost in our site because of its volume but every debtor tool is always linked directly from our 'Resources Page". I know you said once before it took you 20 minutes to find the student loan rehab act, so just always go to 'Resources" and then locate your topic. Happy writing! roni wrote: ------------------------------- beautiful. i am saving this one.
RE: Bravo , Bravo!!!!!! Good luck mom! Momof3 wrote: ------------------------------- Thanks kristi this is terrific
RE: J Edgar and all, please lo Mom, you may also want to read the http://www.carreonandassociates.com/4settle.htm page if you have not already done so. It is a good preparation page. Momof3 wrote: ------------------------------- After reading J Edgar's post I have decided to draft this letter and send it to the collection agency. Can you all give me your opinion if it and let me know if the wording is correct and if I left anything out?? Debt Settlement Letter Inovision 625 US Highway 1 STE1 Key West, Florida 33040 Account reference: Dear Sirs, I am writing concerning an account that was placed with your agency, this was a former utility bill that we had never received due to moving out of state and this never seemed to get forwarded with our mail. I would like to offer a settlement for the full balance of this bill $246.00 , in exchange for the settlement of this debt, you agree to a non-disclosure agreement, you will not disclose the terms of this settlement or anything else regarding this account.This agreement is binding and will be void should you not hold up to your end of the agreement. I f you agree to the above settlement , please acknowledge with your signature and return a copy....
RE: J Edgar and all, please lo Mom: I'd definitely go with Kristi's rendition of the letter. It clearly communicates that you know what your rights are and that if they want the money, they will agree to the terms. This is really a win-win. They get their money, and you get the derogatory off of your credit report. I would address it to someone in upper management of the company who can make a decision quickly. Probably the people who answer the phones have no authority to make any deals and only do what they are told to, or allowed to. My partner and I are off to Provincetown for the Halloween festivities, so I won't be checking back in here until Tuesday. In case you didn't know, us homosexuals have adopted Halloween as our national holiday. Yet another opportunity to dress up in outlandish outfits. No, I don't do drag. Good luck and I hope this all works out for you.
Thanks J Edgar Thanks again, yes I am hoping this does the trick, they get their money and I get my deletion. Have a good time this weekend
RE: J Edgar and all, please lo J.Edgar: I luv your honesty! That's probably why you have been so successful with your credit improvement. People can tell when a person is genuine. Have a gret time this weekend! J. Edgar wrote: ------------------------------- Mom: I'd definitely go with Kristi's rendition of the letter. It clearly communicates that you know what your rights are and that if they want the money, they will agree to the terms. This is really a win-win. They get their money, and you get the derogatory off of your credit report. I would address it to someone in upper management of the company who can make a decision quickly. Probably the people who answer the phones have no authority to make any deals and only do what they are told to, or allowed to. My partner and I are off to Provincetown for the Halloween festivities, so I won't be checking back in here until Tuesday. In case you didn't know, us homosexuals have adopted Halloween as our national holiday. Yet another opportunity to dress up in outlandish outfits. No, I don't do drag. Good luck and I hope this all works out for you.
