I intend to send this letter to a power company who I owe $94.(SOL out 2yrs left on CR) would like to pay to settle the debit, but want the negitive off my CR. I got this off another site and modified it to suit my case please give me your feed back. In Re: Dep_tx & Account #204515 Dear Collection Manager: It has come to my attention through the credit bureaus that you claim I owe a debt to your company. 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. 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 an agent of your company, 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 Please do not quote to me that you are unable to change the listing or for I am fully aware of your options where it comes to reporting debit to the Credit Reporting Agencies My goal is to arrange a term acceptable to both us since this debt is questionable. I will pay your company the amount of $94.00 the as reported 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. City Public Service: Signature of company officer July 30, 2002 Sincerely, Dep_tx Address Social security number Do not sign your name!
You don't want it changed to paid, you want it completely removed. A paid notation is basically neutral. But a paid ca notation is not good. Don't pay unless they completely remove it. It is past sol as you said, so you hold the edge. Use it.
With a bill this small, & the fact you are offering to pay the full balance, you should ask for full deletion from your reports. You should be able to get that.....
thank you all I will ask for a deletion, should I send this letter RRR? what is the advantage? this and one other and my CR is all clean!!
send the letter certified mail with a return reciept. Make sure you have any deal in writing, on company letterhead before you send payment.Also make sure you use a money order to pay.That way they have no bank info on you.
You got some good advice here dep.... pay the $94 and ask them to please help you remove it fully. Good letter though - save it for another time aarrf - dogman
I'm in the middle of something similar. I would advise being very careful about the wording of the letter you send offering to pay in exchange for deletion. Here's a nutshell of my experience. $46 unpaid collection already past the SOL. I offered payment in full for deletion. (With letter which did not acknowledge responsibility or reaffirm the debt.) No response. I then received the first collection letter from the CA. A week later I received the 2nd collection letter from the CA. I sent a second offer of payment for deletion to the OC. No response. Requested validation from CA within the 30 days of the first letter. Got a computer printout from the OC. 15 days after making validation request, I disputed with EX. The 30 days for the dispute won't be over till 8/7. 3 days ago CA noted account on EX as "Creditor cannot locate consumer 6/28/02-6/28/02" and my EX score plummeted 50 points. The EX investigation is still ongoing. YES THIS IS AN OBVIOUS BLATANT LIE!!! Here's my point. I would have never in a million years thought I might end up having to go to court over an account so insignificant. I know I'm going to have them on violations all over the place. But part of the reason I'll have good documentation is because I planned for needing it from the beginning as a "just in case". So, be careful about the wording of your letter. Plan what your strategy is going to be if they completely ignore you or if they simply refuse to delete for payment. That way, if it goes easy, no harm. But if it isn't easy you're on the road for playing hard if you need to. DemPooches
this is a utility company and it will date off in 8/03 so I don't know if it is that big of a ding, the CO is the only thing I have ever seen on my CR so I don't know if they sell accounts this small. I could atleast pay it if they will not delete, and try to explain to a lender. but I think it is small and old and doesn't have any teeth. it may look ugly on my CR but in a year I will get it kicked off like an old dog. anyone have experiance with puplic utilities?
