Sorry Mark, didn't really answer your question. I would have them remove any mention of payment or settlement. I would want a letter stating the account will be deleted because it was reported in error. Simple as that.
I will see if they will add "we will send out a deletion letter once payment is recieved and the UDF form requesting deletion once payment is recieved and 'we will not attempt to collect the remaining balance or sell the remaining balance to an alternate collector at a future date.' do you think this would be enough? at least I would have some guarantee in writing. jeff, they arent going to send me a letter stating it is an error and will be deleted before I pay, as I could just not pay and use that to get deletion, see what I mean?
BY JEFF... Jeff | 336 posts since Sep 2001 165.121.41.67 | 10.06.2002 @ 00:51 Sorry Mark, didn't really answer your question. I would have them remove any mention of payment or settlement. I would want a letter stating the account will be deleted because it was reported in error. Simple as that. ____________________________________ WELL SAID.
I do understand. Would the CA's office be close enough for you to drive to by chance? If so, I would make the trip. If not, it sounds like you will probably be OK, I would at least get agreement that the deletion letter will not mention payment or settlement. Do make sure the letter is on their letterhead, dated and hand signed. Have them list all account numbers also. Good luck.
they are several states away..so cant drive there. anyway, Ill contact them via fax or something monday and get them to amend the letter. hopefully they wont go ape on me at that point.
Lol, I hope not too. Good luck Mark. You might also consider using a restrictive endorsement if you are not comfortable. There's some good info. on restrictive endorsements here if you do a search. If you do choose to go that route research the laws regarding such endorsements for your state. Also search accord and satisfaction.
Validate first! lizardking just posted this a few days ago, IF they validate you still want to offer a pay for deletion, that's a big if, from: http://consumers.creditnet.com/stra...3731#post243731 sassy Here is how you word the settlement letter with the collection agency. Send something like this to them tell them as soon as they sign return it you will pay them a check for 30% of the disputed debt. The alleged debtor (your name) does not admit liability for the claims made by (collection agency/original creditor). The purpose of this settlement is merely to avoid the potential future costs of litigation. Both parties agree that this settlement for 30% of the disputed debt shall be confidential in no way an admission of liability or acknowledgment that the debt is valid. Both parties agree that no future reporting or verification of the alledged debt shall be provided to any credit bureau. ________________________ Your sig ________________________ Collection Agnecy Authorized Sig
This may be the best bet here. But as Jeff says, you'd want the ins and outs of restrictive endorsements for their state. Sounds to me like Mark may have difficulty getting the CA to co-operate with a reworded letter. If it ever came down to it, I think this letter COMBINED with an A&S, would carry the day in a small claims case. Lets focus on how to get this done with the letter he already has. Plus it would allow Mark to get them them a money order by their deadline. ?? CA's take it personally when you don't trust them. LOLOL
Same thing happened to me, the only difference is they CA sent the settlement letter after I requested validation......the letter pretty much stated they would mark my account paid as agree on the credit report if I paid the settlement listed, which by the way was 100 less than the balance due.......Whatever.....I am sending them another letter requesting that the validate or else........I am not going to settle.
You're right Dimples. The reason they sent a settlement offer is probably because they can't, or are too lazy to validate. In Marks case tho, they did provide sufficient proof for him to lose if it went to court, so he needs to settle.
Assuming they are as good as their word, sign everything you want, delete everything they or their prior id is reporting, you STILL have a BIG problem. You have NO WAY legally of preventing them from selling the unpaid balance to ANOTHER collection agency. It would be called "restraint of trade". Plus, once the next bottom feeder gets the account, you will have to jump through hoops of fire to get THEM (and a probably re-aged account) off your reports. Has it occurred to you to do a search of this CA's licenses, to see WHY they were forced to change names?
my original letter was based on restrictive endorsement, and they would not sign it. I was actually happier to get something from them on their letterhead anyway. they cannot write 'do not agree' or whatnot on the payment i send, I already checked for their state. Im thinking of leaving the letter as-is possibly, sending the payment in with a restrictive endorsement that says 'by cashing this you agree to remove all negative information relating to this account from any credit report you may be reporting it to within 30 days and you agree to the terms in certified letter 12340132409' it would come with a certified letter stating the same thing, and requesting a deletion letter to be mailed to me. something like this. now the question will be, do they accept restrictive endorsements? at least one CA claimed they send restrictive endorsement checks back without cashing them. whether this is true or not, I do not know.
damn i thought i had something good, but it appears it just gets worse. now they probably think i've scheduled a payment and they will re-age my account if I dont settle.
I think you can use Mail Boxes Etc. as a 'trading point' or something like that. give MBE the check and MBE will give you the letter. I'm not 100% sure though, but it might be worth looking into.
I've sent a fax to them requesting that they consider signing my offer in order to receive the payment. I asked them to notify me about the portions of my letter they do not like. I feel currently that I cannot pay them with the letter they've sent, due in part to the valuable feedback you've all provided. I see this as a win-win situation for them..Im trying to put myself in their shoes and I still see no problem with them signing it. I fear the person I'm dealing with will shift into a-hole mode now, but I don't feel right about the deal as it is.
Keep in mind that an agreement between you and the CA is not binding to the original creditor. You need to make sure that the OC does not continue to report this negative tradeline.
This is the OC (they are also a CA). they've always been trying to collect on it. that's why they are able to validate so well. Honestly, this place has it together better than any other place I've dealt with before. Aside from their weird letter, they've played it by the book. Even still, I'm not prepared to take chances, as the amount in question is a chunk. (no, not telling the amount/account type or collection agency name for fear of the GF-factor) hey I should copyright that 'the GF-factor'..it reminds me not to give away too much info.
