I want to send a letter to an original creditor to see if I could make some negotiations on a charged off account. I am new to this and do not want to goof it up, is there anyone who could give me some input on the wording, or is there a sample letter somewhere. I could not find one.
This is what I sent via pfb. I didn't get the answer I wanted but It might help. I incorporated a template found on anothr website. Manager In Charge of Old Bad Debt or Legal Staff Kay Jewelers (AKA Marks and Morgan) 375 GHENT RD AKRON, OH 44333 May 2,2002 RE: Account # 1463-304211XXXX Dear Sir/Madame: It has come to my attention through the credit bureaus that you claim I owe a debt to Kay Jewelers. . While I have yet to have this debt verified to me as legitimate through my rights as a consumer, I may be willing to save us both some time and effort by "settling the debt out". Before I continue with an offer I would like to make the following observations. You are not in compliance with the Fair Credit Reporting Act. There are duplicate entries on all three of my credit reports from both Marks & Morgan and Kay Jewelers. Furthermore, this debt has been illegally re aged. I have old copies of my reports that state the date of last activity, which was April of 1997. Marks & Morgan, Kay Jewelers, or anyone else has never contacted me since this date regarding this claim. And, I have never contacted any party concerning this alleged debt. I understand my rights under The Fair Credit Billing Act, The Fair Credit Reporting Act, The Fair Debt Collection Practices Act, and other applicable state and federal statutes. I am prepared to use these laws if required. Hopefully this wonâ??t be necessary. Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you accept, sign a copy and return it to me. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from Kay Jewelers of this debt. I do know that it is not an unheard of practice, to "settle an old debt out". 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. Paying anything on this unverified debt means little to me if we cannot mutually agree that you will report the debt as mentioned below. I realize that it is your business to extend credit for merchandise and to motivate prompt repayment by reporting to the credit bureaus. I hope that you can see my point, that a "paid charge off" doesnâ??t do me any service, reported in my consumer credit reports. I have confirmed through the credit bureaus that you have the absolute right to report this debt as you see fit. Be advised that I am very firm on my offer. I am sure that one of the other companies claiming I owe them would gladly take my money, if offered. Please do not attempt to continue contacting me outside of this offer or I will be forced to deal with this by utilizing other legal means available to me. If you have immediate questions or comments regarding this offer feel free to contact me via US mail or via email at gilliner@debtvile.com. Hopefully, we will have a mutually acceptable agreement. I will pay Kay Jeweler the amount of $1200 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 as agreed. You further agree to remove all previous notation of delinquency regarding Marks & Morgan, Kay Jewelers, and any others regarding this account. If you agree with these terms please acknowledge with your signature and return it to me via US mail. 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 acknowledgement, I will mail you the funds within 20 days. 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. Kay Jewelers X______________________________________. Date ______________ Signature of company officer _____________________________________________________________ Printed name and job title Sincerely, no signature!
