Sent the following letter: CA P.O. Box 1234 New York, NY xxxxx March 8, 2002 Re: File # xyz (Orig acct# 1234) To Whom It May Concern: This letter is to inform you that I will be sending you a payment via U.S. Mail in 15 days from the date of this letter. This payment is being offered as an Accord & Satisfaction for payment in full but it does carry a conditional endorsement. Per California State Law, you have 15 days in which to object or refuse this Accord & Satisfaction. The conditions of the endorsement of this payment are that CAwill complete delete Account # xyz from all 3 major Credit Bureau files including any information showing this account as being paid late, in collections or charged off. If this Accord & Satisfaction is completed, CA will take all necessary action to delete this account listing from all 3 major credit bureau files within 48 hours of completing satisfaction of the instrument of accord. Please confirm in writing within 15 days from the date of this letter agreeing to these terms. If I do not receive your objection within 15 days from the date of this letter, it will be assumed that this offer is not being rejected and that the Accord & Satisfaction is agreed upon mutually. If this instrument of Accord is returned to me or refused after your receipt, no further settlement offers or payments will be made on this account and its' status will be in a perpetual state of dispute. Sincerely, MY SIGNATURE Their letter to me stated "we can remove our negative rating from your credit report" (that doesn't sound like deletion, but I thought I would give this a shot) I'm in Calif...it's for $175 and is 5 years old...They recvd my letter on 3/12, and I have yet to hear back from them... My question is, should I send a payment in w/ the restrictive endorsement along with a letter stating that since they did not respond to my original letter, they must delete if they choose to cash my check? Will this work? Thanks!
Was this Asset by any chance? I posted in another thread yesterday (or day before) where they got sued over saying that paying the bill would improve someone's credit rating. I think it was a class action filed in 2000. The letter sounds great!!!!! L
I believe Accord & Satisfaction letters can be very tricky to handle, I think certian states can write "under protest" or "without prejudice" which voids the A & S completely. Like I said I'm not to sure about this, you may want to double check with others. Here's a link about A&S dunno how accurate they are about it. GoodLuck Kinetix http://www.faircreditmovement.org/alternatives.htm
That's a really nicely-written pay for deletion letter. In fact, I think I may use it for a situation I'm working on right now with one of my CAs. Here's the thread if you want the background: http://consumers.creditnet.com/stra...ad.php?s=&goto=newpost&threadid=22462&pgnum=1 I'm going to check the WI and MO state laws before I do it though just to make sure it's valid before I make that move.
I want to use the A&S too. Does the state laws that apply go by the state you live and are sending the payment from or where the collection agency is located? I keep getting conflicting answers. Thanks.
From the link I provided, the impression I'm getting it applies to the state that the CA's reside in(I'm not sure though). Kinetix
Monji-- Did you ever hear back from the CA regarding this letter? Just wondering how it turned out for you.
No, they have not sent me back a response, and they signed for it a week ago. I haven't sent my payment in yet, I'm trying to decide whether to call them, and see where they stand, or just take my chance and send in the pmnt.
I like the letter, however, some states CAN write under protest on the check and your endorsement will be void. Via Bill Bauer, may I suggest writing a letter and have them sign and send it back...THEN send money. If you send it now, you have nothing but that endorsement. And if they don't delete, you're out of cash and then you'll have to fight like a dog to get it off.
You are right, Shantel...and they are in New York, a state in which they can write dispute, then I'm screwed! I will get on the phone with them, and see if they'll sign what I sent, and then they'll get their $...if not, no deal, and I'll start validation w/ them.
UPDATE!!!!!!!!!!! I received letter today from CA that they would DELETE for PAYMENT from all CRA's they reported my tradeline to! YES!!!!! balance owing is $172....so it's worth it!!! HOORAY!
