Letter #1 Dear Sir or Madam, I have recently become aware of an outstanding debt that I owe your company. According to my records I owe Sterling Bank and Trust $96.00. Although this account was charged off, the debt is still legally valid and according to my attorney I am still liable for this debt even though your company is not actively trying to collect it from me. I would like to make payment arrangements in exchange to have the item removed from my credit report. I would like to clear up this matter as soon as possible fore it is causing me financial hardship. I am in the process of transferring from a community college to a state university and with this outstanding balance on my credit file I will once again be denied for Federal Student Aid as I was in the spring of this year. I am saddened by the status of this account; I was under the impression that I had paid this account in full at the time I closed it. I hope that we can come to an agreement in this matter as soon as possible. I would like to thank you in advance for your understanding and prompt attention to this matter. Yours truly, They said: Thank you for your letter regarding your charged off account. We are willing to remove this from your credit files only if you pay the $96.31 owed in one payment. Please send your check or money order to Sterling Bank & Trust P.O. Box 1170 Royal Oak, MI 48068-1170-Attention Mr. Underwood. If you have any questions please do not hesistate to call. I wrote back: Dear Mr. Underwood: Thank you for your quick response to my letter. Although I am eager to send payment, I would like for you to further explain the process as to which my file will be permanently removed/deleted from all three credit reporting agencies (Experian, Trans Union, and Equifax) before payment is made. Â· What is the exact procedure that will be used by Sterling Bank & Trust when removing/deleting my file (i.e. will you inform all three credit bureaus that it is no longer verifiable and thus should be deleted)? Â· How often does Sterling Bank & Trust report removals/deletions to all three credit bureaus? Â·After the $96.31 payment is made, approximately how long will it take Sterling Bank & Trust to have my account permanently removed/deleted from all three credit files? Â· Will a proof of payment be sent following payment? As stated before I am extremely eager to send you a payment. Please send all correspondence to the address above. Once again, thank you for your prompt attention to this matter. Sincerely, He wrote back: Thank you for your follow up letter regarding your account. The procedure for deleting your account from your file is as follows: 1. You send in balance in full 2. If the payment is sent by money order, check or cashiers check we will post it and wait ten days for it to clear the bank. 3. If you Western Union the money to us by 9-29-00 by 4pm EST your account should update by 9-30-00. 4. We send by tape a record to the credit bureaus at the beginning of each month 5. If payments are received after that they will be reported at the beginning of the next month. 6. It is then up to the credit bureaus as to when they update their files. If you have any questions please call. So that was it. I sent in payment. So far I have only received my Trans report and it was removed. I hope it works for you. If you have any questions feel free to ask.