This is my first attempt to settle several CC's. Any comments welcome. I am 60+ days overdue and this offer is about 35% of the balance. This is put together from a couple letters I found here. 9/18/2004 Final Agreement between xxxx Mastercard and xxxxxxx Re: xxxx-xxxx-xxxx-xxxx Dear Sirs: Due to changes in our fiancial situation I will no longer be making monthly payments to you. All communication will need to be written regarding this account. Please do not call my home phone # as no communication regarding this account will occur from there. This agreement is an offer to amicably settle the above referenced account. It is not to be construed as an acknowledgment of liability for this debt in any form, nor will settlement have any affect on the Statute Of Limitations. I am offering to pay the undisputed amount of $2000 and the unpaid amount is disputed at this time. I will pay your company the amount of $2000 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, xxxx has agreed to change the entry on my 3 credit reports to " PAID/NEVER LATE BALANCE $0 "ACCOUNT CLOSED BY CUSTOMER". You further agree to remove all previous notation of delinquency if present. Contingent upon the receipt of the amount of $2000 this account is considered paid in full and the matter permanently closed. You further agree not to sell the account or any part of the balance to third party collection representatives. 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 the above mentioned funds priority mail. Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor has any concrete written agreement been exchanged. Name of Creditor: xxxxxxxxxMastercard Signature of company officer- Date- Sincerely, (not signed)
This is my first attempt to settle several CC's. Any comments welcome. I am 60+ days overdue and this offer is about 35% (<-- THIS WILL BE UNACCEPTABLE)of the balance. This is put together from a couple letters I found here. 9/18/2004 Final Agreement between xxxx Mastercard and xxxxxxx Re: xxxx-xxxx-xxxx-xxxx Dear Sirs(<--MADAM): Due to changes in our(<-- MY) fiancial situation I will no longer be (<-- ABLE TO)makE monthly payments to you. (BAD!! Your breaking customer Agreement!!) All communication (REGARDING THIS ACCOUNT)will need to be IN WRITING. Please do not call my home phone # as no communication regarding this account will occur from there. This agreement is an offer to amicably settle(NOT IF THEY ARE ONLY GETTING 35%) the above referenced account. It is not to be construed as an acknowledgment of liability for this debt in any form(ASKING FOR TROUBLE WITH THIS COMMENT), nor will settlement have any affect on the Statute Of Limitations.(WHY NOT?) I am offering to pay the undisputed amount of $2000 and the unpaid amount is disputed at this time. (HUH?) I will pay your company the amount of $2000 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, xxxx has agreed to change the entry on my 3 credit reports to " PAID/NEVER LATE BALANCE $0 "ACCOUNT CLOSED BY CUSTOMER". You further agree to remove all previous notation of delinquency if present.(MAKE THIS A PAY FOR DELETION, THEY CAN'T REPORT FALSE INFO TO BY FCRA LAWS) Contingent upon the receipt of the amount of $2000 this account is considered paid in full and the matter permanently closed. You (<-- COMPANY NAME)further agree not to sell the account (IN WHOLE OR IN PART)or any part of the balance to third party collection representatives. If you concur (<--AGREE)with these terms please acknowledge with your(<-- AN AUTHORIZED) signature and return it to me. You (<-- COMPANY NAME)agree the terms herein are confidential and you (<-- COMPANY NAME)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 (<-- WITH TRACKING INFO, A CASHIERS CHECK TO COMAPNY NAME)you the above mentioned funds priority mail. Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor has any concrete written agreement been exchanged. Name of Creditor: xxxxxxxxxMastercard Signature (<--AND POSITION) of company officer- Date- Sincerely, my 2 cents... re-write and post again...you need to close the loop holes in it.
Here ia a rewrite, thanks so much for responding. (This is my first attempt to settle several CC's. Any comments welcome. I am 60+ days overdue. ) Final Agreement between xxxx Mastercard and xxxxxxx Re: xxxx-xxxx-xxxx-xxxx Dear Sirs Or Madam, Due to changes in my fiancial situation I would like to offer to settle and close this account. All communication regarding this account will need to be in writing. Please do not call my home phone # as no communication regarding this account will occur from there. This agreement is an offer to amicably settle the above referenced account. I will pay your company the amount of $3500 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, xxxx has agreed to delete this tradeline entry on my 3 credit reports. Contingent upon the receipt of the amount of $3500 this account is considered paid in full and the matter permanently closed. You (<-- COMPANY NAME)further agree not to sell the account in whole or in part to third party collection representatives. If you agree with these terms please acknowledge with an authorized signature and return it to me. You (<-- COMPANY NAME)agree the terms herein are confidential and you (<-- COMPANY NAME)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 (<-- WITH TRACKING INFO, A CASHIERS CHECK TO COMAPNY NAME). Notice: This agreement is restricted. This is not a renewed promise to pay but rather a restricted settlement offer only. By not signing below, you agree that the debt has not been renewed nor has any concrete written agreement been exchanged. Name of Creditor: xxxxxxxxxMastercard Signature and position of company officer- Date- Sincerely,
