Good morning all! I would really appreciate your opinions and input of a current settlement offer that I plan on sending to a current creditor. TO give you a little background this is a creditor my husband and I have been paying via CCCS for the last 3 years (Don't yell at me, I didn't know any better back then. We were trying to do the honorable thing and pay our debts). Anyway, we are still enrolled in CCCS, and still sending ontime payments every month. But I was hoping that I could settle with each of the individual creditors as we came up with a lump sum to pay off each balance, while keeping the others in CCCS, while we finish digging out of the hole we dug. Anyway, here's a letter I plan on sending, I would really appreciate any input or suggestions: Nikki To: <Creditor name> Consumer Credit Counseling Department <Address 1> <Address 2> Fax#: From: <My name> <DH's name> Fax# XXX XXX XXXX Re: Acct# XXXX XXX XXXXXXXX To whom it may concern: The purpose of this letter is to negotiate a settlement for final payment in full of our Company name Credit Card account. As you are well aware, this account had been in Consumer Credit Counseling for the last 3 years. During that time we have honored our obligation to pay every month with no late payments. At this time, we would like to terminate our relationship with your company in a mutally beneficial fashion. My spouse and I are prepared to render immediate payment in full of this account in exchange for deletion of ALL negative information referencing this account from our respective credit reports with all credit bureaus. Negative information to be deleted includes, but is not limited to: any reference to Consumer credit counseling as well as all late payment information which has been, or will be furnished by your company. Should you choose not to accept this offer, I feel it necessary to inform you that Chapter 7 bankruptcy is unfortunately still an option due to our current financial circumstances. However, we would much rather resolve this debt in a mutually agreeable manner. Therefore, upon written receipt of agreement to the above terms, we will happily send your company a money order for payment in full of our current account balance. Thank you for you anticipated cooperation. Please feel free to contact us at the above listed fax number should you have any further questions pertaining to this matter. Sincerely, My Name DH's Name
Don't expect much of a reply to your letter since it will not get past the clerks who have no authority to approve it. Find out the NAME of the VP in charge of Collections in each creditor organization and send it directly to that person by name. Also - I would include a copy of the first page of a Bankruptcy petition filled out (but obviously not filed) to give your BK threat some more credence - they hear the BK threat a hundred times a day.
Thanks Flyingifr (DH's a pilot too)! I've been searchiong for the name of VP of collections for Goodyear, but can't seem to locate it. is there anyone who can point me in the right direction? THanks again, Nikki
