Need Help with Letter

Here's a sample, remember don't sign or date it:


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Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt.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,

 

Well, if you are insistant about paying the debt, then Mom's letter seems like an excellent one.

But I have a question for you.

NCO has always been an easy one to deal with because they screw up every time and end up just cancelling the debt and sending out letters to the credit bureaus demanding that the listing be deleted. And they always send out the "disclaimers" by FEDEX overnight.

I've had several debts with them end up that way. Never had one single dispute that they handled properly yet, although I do have one that they refuse to send out any demand for payment but keep on trying to bug the people by telephone and when they demand that all correspondence be by mail, NCO just claims they can't do that and hang up only to call back again in a week or so demanding payment again, and they get the same answer. Gotta do it by mail, not by phone.

Haven't figured out how to deal with that one yet, but they have lost to creditwrench so many times already that they are so scared to even send out a demand because they already know what is coming next. They will end up eating the debt and having to pay it themselves and delete it from the records.

There has to be a way to nail them for their incessant phone calls and refusal to do business by mail, but I have not bothered to really figure it out yet. Maybe I will one of these days.

But why pay them when you can beat them?

Don't make no sense to me.

 

NCO is not listed on my credit reports, just the chargeoff status of Capital One. Any suggestions on getting Capital One to deal with me instead.

While NCO might not be listed on your credit reports, they apparently are the ones trying to do the collecting, aren't they?

Previous experience of others on this forum seems to be that Capone will not deal with the debtor once they have turned it over to a collection agency. The reports are that they even have some kind of automated system where debtors calling don't even get to talk to CapOne people but rather get automatically transferred over to the collection agency.

That's what I've seen posted here rather recently.

So in order to get back to CapOne, seems to me that you have to get rid of NCO first. One of two things is likely to happen when you get rid of NCO once and for all, and that is that they pay the debt for you or they turn the account back to CapOne. Either one could happen.

Seems to me that you need to get NCO out of your hair even if they don't show up on your reports yet.
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Also, do you recommend disputing items that state "included in bk" and report a $0 balance.

Well, you don't have anything solid to fight about the way it is, so where else can you go but back to the source of the problem. The way it is now, you don't have any "lever" to use against the credit bureau. They claim one thing and you want to dispute what they say. So you gotta start somewhere because if you don't, all you end up doing is calling each other a liar. That's like trying to fight windmills. You just go around in circles and get nowhere.

So if you don't get it right from the source, you got nothing to fight with.

The "included in bk" makes it a double listing for the same debt. They are not supposed to do that.

Make sense?

 

Hmmm...double listing...that does make sense...hmmm........

OH, my gosh, Bill, you made sense! ROFL.you know I'm teasing!! You've got my interest now, though.

 

So what are your suggestions for dealing with NCO? I also have a chargeoff-mine was AT&T Universal-that is now listed with NCO, hubby has one from MBNA listed with them as well...One each of our reports both items are listed, making it look twice as bad...I have tried disputing both items and they always come back verified. FYI both chargeoffs are from <1998. Wondering if CRA is even checking.... I hate to contact NCO or AT&T because neither have bugged me in years, and I can't afford to pay it (yes I do owe it) it just seems that 7 years is a long time to suffer for a mistake made when you were a stupid young college student with no job. Someday I would like to buy a house, but at this point it looks like 2006...

Any thoughts would be appreciated

Larissa

 

So what are your suggestions for dealing with NCO? I also have a chargeoff-mine was AT&T Universal-that is now listed with NCO, hubby has one from MBNA listed with them as well...One each of our reports both items are listed, making it look twice as bad...I have tried disputing both items and they always come back verified. FYI both chargeoffs are from <1998.

Well, you ought to at least have lots of fun with NCO if nothing else.
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Wondering if CRA is even checking.... I hate to contact NCO or AT&T because neither have bugged me in years, and I can't afford to pay it (yes I do owe it)

Come on now, don't go getting moral on me. (LOL)

WEll, all I can say is that I think you need to go get mean with NCO and win the war. You apparently have not been doing all that well going at it the way you have been, so why not try something new?

 

Well now Bill...just because I owe it doesn't mean I have any intention of paying it! Maybe I should feel obligated, but I don't...they are the ones that gave a preapproved $4500 limit to a college student with no job expecting their parents to pay it off...well maybe some would, but not mine...I tried to pay it, but when you suddenly have a family to take care of it is hard to do...that is another story. I don't think it is fair of CC companies to do this...while there are some very responsible college students out there, most are NOT and the CCs know it!

Ok off the soapbox!

Anyway, I have no idea what to do with these, as I said, I have disputed but they come back verified (very quickly...suspiciously enough!) I have asked EX how they verified and they sent me a note saying...we write to the address listed on your report, so... If I wait 3 more years these will go away, but until then I have no hope of getting decent credit from anyone...Obviously what I am doing is not working, so what next? I am afraid to open a pandora's box so to speak...

Thanks for listening to my ramble...
Larissa

 

Well, most of the time Pandora needs a good bath after having been in that stinky little box for so long. (LOL)

But on the more serious side, what have you got to lose by opening up the box and making them take their bath?

That's what I do is either go give them their bath for you or I teach you how to do the nasty job and have a lot of fun while doing so.

Your case should be no different from the way your post sounds.

I just got through giving another one on my files a good bath. I've just got one more to go on Equifax and I'm all clean. Perfect credit as far as Equifax will be concerned.
The one I gave the bath to today didn't even want to fight about it once I told them how the cow was gonna eat the cabbage. They just up and signed an agreement to get it off my reports and eat the debt. It' was pretty small anyway, so it was not biggie to them.