I have a collection account for $115.75. Full OC amount. I received a letter about 45 days ago that this little beast has been awaken. First letter was "if you don't respond in 30 days we consider the debt valid". Didn't want to respond to that one. I play hard ball and I was waiting for a better offer Received letter 2 on the 29th, with a great offer to save 15% ($17.36!!) My angle is pay the damn thing and get it off the reports. I would like to send a letter of my intent to settle for an amount MORE than the original debt, because I understand that this has a better legal basis if an "agreement" is made between the parties. So I need a form letter that states the "Intent to settle" for $125 but only on the foundation that the tradeline is deleted on all 3 and I receive confirmation letters and or UDFs as proof. I don't want to deal with this later. Any advice? Someone got a form letter laying around?? Q
Questions: How old is this debt? Past SOL? Either way, I would only offer the full amount. Something simple like: -------------------------------------------------------- Collection Agency, Re Acct # XXXXXXXXXX Dear Collection Manager: It has come to my attention through a letter your company sent me that you claim I owe a debt to your agency. I can 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 a collection agent, 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 Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt. My goal is to arrange a term acceptable to both us since this debt is questionable. I will pay your company the full amount of $115.75 as payment in full in return for deletion of any notations on any of my credit reports. Upon receipt of the above payment, your company has agreed to delete the entry from all Credit Reporting Agencies. 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. Name of Creditor: Signature of company officer : Date: Sincerely, Name Address Social security number Do not sign your name!
*****NEW MEMBER MUST READS***** 12-25-3 What is Validation http://consumers.creditnet.com/stra....php?s=&threadid=42188&highlight= validation *** Victims of Credit Reporting *** http://members.aol.com/victcrdrpt/Score.html Rule of 72 http://consumers.creditnet.com/stra...=&threadid=39313&highlight=rule+AND+of+AND+72 Must SEE--------------------------- http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=350770#post350770 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=314910#post314910 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=352826#post352826 """""""""""""""""""""""""""""""""" FixYourOwnCredit! http://consumers.creditnet.com/stra...848&highlight=fix+AND+your+AND+own+AND+credit """"""""""""""""""""""""""""""""""""""""""" '''''''''' `````````` '''''''''' Sample letters http://consumers.creditnet.com/straighttalk/board/index.php?s= WhyChats statute of limitations http://community-2.webtv.net/Y-chat/WhyChatsCredit/ http://community-2.webtv.net/Y-chat/WhyChatsCredit/ statute of limitations http://www.edebtnetwork.com/content/collection_laws.asp""""```--~~~~~~~~~--```'""''' THE END ** *** ** LB 59""""```--~~~~~~~~~--```'""''' ..
Good, ok 2 questions.... At the bottom of the letter, you suggest I should supply them with my SSN. Why? Should I put in a line in the one time offer that this is not part of a debt repair agency, that it is from the person who credit file the information is being reported. Lbrown, Thanks for the links, reading now. Q
First letter was "if you don't respond in 30 days we consider the debt valid". 1*Didn't want to respond to that one. 2*My angle is pay the damn thing and get it off the reports. 3* I understand that this has a better legal basis if an "agreement" is made between the parties. 4Qutec ~~~~~~~~```````````~~~~~~~~~~~'''''''''''' 1*Why not respond? 2*Why not go the validation route instead.? 3*What do you mean? ..
First letter was "if you don't respond in 30 days we consider the debt valid". 1*Didn't want to respond to that one. 2*My angle is pay the damn thing and get it off the reports. 3* I understand that this has a better legal basis if an "agreement" is made between the parties. 4Qutec ~~~~~~~~```````````~~~~~~~~~~~'''''''''''' 1*Why not respond? 2*Why not go the validation route instead.? 3*What do you mean? ..
First letter was "if you don't respond in 30 days we consider the debt valid". 1*Didn't want to respond to that one. 2*My angle is pay the damn thing and get it off the reports. 3* I understand that this has a better legal basis if an "agreement" is made between the parties. 4Qutec ~~~~~~~~```````````~~~~~~~~~~~'''''''''''' 1*Why not respond? 2*Why not go the validation route instead.? 3*What do you mean? ..
Re: Re: Settlement Offer Advice Thanks for the reply, 1*Why not respond? 2*Why not go the validation route instead.? 3*What do you mean? 1.I didn't have the time or the cash to deal with it then.Lame excuse I know, but you know the feeling when one of your old debts comes out of the closet. 2.The reason I don't want to make them validate is I want something in writing that they will never put this tradeline on my report again. 3.Somone once told me that if 2 parties made a settlement different that the terms of the previous contract, debt, agreement, ect, that the courts looked at it a different way then just settling under the already agreed to terms. If I have to pay a few bucks more for a signed piece of paper I can use later if the tradeline pops back up, so be it. Q
Re: Re: Settlement Offer Advice 1*At the bottom of the letter, you suggest I should supply them with my SSN. Why? 2*Should I put in a line in the one time offer that this is not part of a debt repair agency, that it is from the person who credit file the information is being reported. Thanks for the links, reading now. ============= 1*What letter where ? 2*Not me.
Re: Re: Settlement Offer Advice 1.I didn't have the time or the cash to deal with it then. .2.The reason I don't want to make them validate is I want something in writing that they will never put this tradeline on my report again. 3.Somone once told me that if 2 parties made a settlement different that the terms of the previous contract, debt, agreement, ect, that the courts looked at it a different way then just settling under the already agreed to terms. Qutec ================= 1*Which is exactly why you should have responded to them with the VL. .2* Validation is how you get things in writing. 3* Wonder why that would be-Do you know? You need to study the links I posted above. So that you will have a better understand of how things work.
