Pay for Delete to Collection Agency

[rc21839]

Below is the letter that I'm sending to the collection agency but had a few questions.....

 

1. Although the collection agency is NOT yet showing on my credit report, when I called the credit company, they directed me to them.

2. If they accept my offer, will this remove the original debt or just the collection agency debt (which isnt yet reporting) on my credit reports?

3. Would appreciate any thoughts on the letter too.

 

I have learned that you claim that I owe a debt to your collection agency. I must note that I have not yet verified this debt as legitimate and, as you are undoubtedly aware, I have a full right to do so under Fair Debt Collection Practices Act. However, I will try to save us both time and effort and settle this alleged debt.

 

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Again, I have not agreed that this debt is mine and have an option and a right to request further proof from your agency regarding this debt. I also know that your agency regularly purchases debts from creditors.

 

I am aware that your company has the ability to report this debt to the credit bureaus as you deem necessary. Furthermore, you have the ability to change the listing since you are the information furnisher.

 

I am willing to pay $XXX.XX as settlement for this debt in return for your agreement to remove all information regarding this debt from the credit reporting agencies within ten calendar days of payment. If you agree to the terms, I will send certified payment in the amount of $XXX.XX payable to Collection Agency in exchange to have all information related to this debt removed from all of my credit files.

 

If you accept this offer, you also agree not to discuss the offer with any third-party, excluding the original creditor. If you accept the offer, please prepare a letter on your company letterhead agreeing to the terms. This letter should be signed by an authorized agent of Collection Agency. The letter will be treated as a contract and subject to the laws of my state. No payment will be made without written confirmation.

 

Upon receipt of this signed acknowledgment, I will immediately send your funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If all the terms cannot be met, no new arrangements will be made and the offer will be void.

 

As granted by the Fair Debt Collection Practices Act, I have the right to dispute this alleged debt. If I do not receive your postmarked response within 15 days, I will withdraw the offer and request full verification of this debt.

 

Please forward your agreement to the address listed below.

 

 

[Guest]

I would tailor this one to suit: http://creditboards.com/forums/index.php?showtopic=8016

http://creditboards.com/forums/index.php?showtopic=8016&p=55662

 

Posted 30 July 2003 - 06:24 PM Mr. INeedCreditHelp says: I have successfully settled 3 collections on my credit files using the letter below. Modify if to fit your personal situation:

Collection Agency
666 Evil Street
Hades, Hell 00000

Re: Collection Account for Original Creditor
Account #: 00000xxxx
Amount: $25.00

To Whom It May Concern:

This
letter is to inform you that the validity of this debt is disputed. I
am not sure of the account number, as I have never heard from you
regarding this account. The account number I have is the one listed on
my Experian credit report – which omits the last few digits.

In the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage)
if you agree to immediate deletion of this account from any and all
credit reporting agencies (Equifax, Experian and TransUnion). The
purpose of this settlement is merely to have this item removed from my
credit files. It is not to be construed as an acknowledgment of
liability for this debt in any form.

If you agree to the terms
and accept this agreement, certified funds for the settlement amount of
twenty-five dollars ($25.00) will be sent to Collection Agency in
exchange for full deletion of ALL references regarding this account
from my credit files and full satisfaction of the debt. As certified
funds will be used for payment, there shall be no waiting period
regarding the deletion of this account from the credit reporting
agencies.

Collection Agency agrees to
delete ALL information regarding this account from the credit reporting
agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as
specified above and will not discuss the terms of this settlement with
anyone, excluding your client on this account. If contacted by any third
party, including credit-reporting agencies, Collection Agency will
not acknowledge that any settlement offer was made, accepted or
executed and will, in fact, deny knowledge of any such account.

If
you agree to the above terms, please prepare a letter on your company
letterhead explicity agreeing to the same terms as the above settlement
offer and have it signed by an authorized representative of Collection Agency. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Your
response must be postmarked no later than 15 days from your receipt of
this settlement offer or this offer will be withdrawn and I will request
full validation of this alleged debt, as provided for by the Fair Debt
Collection Practices Act.

Please address all correspondence regarding this account to:

Mr. INeedCreditHelp
123 Any Street
City, State ZipCode

 

[rc21839]

Thanks and LOVE the address.....

[janine510]

Should this letter be hand written or can it be typed?

[ck390304]

For an official letter like this, you should definitely type it up, leave about 4 lines between the closing and your name. The only handwritten part of a letter like this should really be your signature between the closing & your printed name.

[futurehomeowner?]

I had the same question as I think the OP had. If you send a PFD letter to the CA and they agree, what happens to the original TL?

[Linx04]

The OC must agree to delete.

[futurehomeowner?]

so are you saying that if you send a PFD to the CA, before they can accept it they have to get approval from the OC so if its accepted it gets removed by both? or

 

If the CA accepts it that just eliminates the CA TL then you have to ask the OC to do the same?

[Linx04]

If you want the OC to delete their TL by offering a PFD, the OC must agree to it. The CA can't speak for the OC. Now if all you are looking for is a PFD with the CA and the CA's TL then you are OK with just getting the CA to agree.

[305_sigma]

This is great information. I will get to work with this immediately

[vagrants]

For an official letter like this, you should definitely type it up, leave about 4 lines between the closing and your name. The only handwritten part of a letter like this should really be your signature between the closing & your printed name.

 

Is putting one's signature good idea?

[305_sigma]

 

For an official letter like this, you should definitely type it up, leave about 4 lines between the closing and your name. The only handwritten part of a letter like this should really be your signature between the closing & your printed name.

 

Is putting one's signature good idea?

From what I read in another post do not put your signature on the letter

[readytofixit5]

I agree, everything I have read(and I have read A LOT here, lol) has said NEVER put your signature on anything you send to them. They can use it on other documents.