I would like everyone's opinion of my counteroffer letter. Asset acceptance offered to settle for 50% of balance - I have no problem paying that but want deletion/removal of negatives. Page 1 November 09, 2001 Asset Acceptance Corporation P.O. Box 318035 Cleveland, Ohio 44131-8035 Re: Target Account number XXXXXXXXXX Dear Mr Collector, I am in receipt of your settlement offer on the above listed account. I would be willing to accept this offer, provided certain conditions are met as outlined in the attached settlement counteroffer. Please respond within 5 days of receipt of this offer to allow timely submission of payment. -------------------- Page 2 Date: November 09, 2001 Asset Acceptance Corporation P.O. Box 318035 Cleveland, OH 44121-8035 Re: Account Number â?? XXXXXXXX Target Dear Sirs: This letter is a counteroffer to your letter dated November 02,2001 regarding the settlement of the above account. As per your offer, I will pay your company the amount of $205.53 as full settlement of this account. I will send you a money order, certified cashiers check or Western Union Quick Collect payment for the settlement amount of $205.53 in exchange for a satisfactory credit rating and full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement. Furthermore the debt will be rated as paid in full with a zero balance to all three credit bureaus or the bureaus your company regularly reports to in the course of doing business. Any negative references to the account indicating it as a collection or charged off account will be removed from the rating. You further agree that the account will not be reported as â??Settledâ? in any form or format but will read â??Paid in full, zero balanceâ? or words to that effect. In lieu of the above reporting I will also accept a total deletion of this account from all three credit bureaus or the bureaus your company regularly reports to in the course of doing business. If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgment, I will promptly send you a money order, cashiers check or Western Union Quick Collect payment in the amount stated above. If payment is to be made by Western Union Quick Collect please provide your city state code. 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 agreements been exchanged. Creditorâ??s Authorized Signature: _____________________________ Printed Name and Title:_______________________________________ Date of Signature:____________
My only comment is on the following line which you have in the letter twice. "...all three credit bureaus or the bureaus your company regularly reports to ..." I would change it to: ...all three credit bureaus AND the bureaus your company regularly reports to ... It appears that they could just report it to whoever they regularly report to and not to the Big three because of the "or". Just my 1 cent...
It is a very nice letter , but they will not report information stating that you have paid the full balance when you in fact did not.. It will state settled with a 07 , paid as agreed for less than the full balance.. Maybe they will do that for you, but I doubt it..
ok maybe I'm being dense here but is this company a collection company??? If so, they'd automatically have to update as paid or settled in full. so what. It leaves you a paid collection account. yuck. If it's a collection company, get full deletion of the account. period. a collection entry of any kind kills scores. If I'm wrong on the type of company they are, ignore me
