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Is this letter ok


user33658
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to remit with my settlement offer?

"I agree to the terms of your settlement offer (see attached copy of your offer) and enclose payment in the amount of $1000.00 (one thousand dollars) as payment in full on this account.

Upon acceptance of this payment, you will report to all three credit bureaus within 10 business days that this account is “Closed” and the payment status is “Paid As Agreed” .

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depends on what is said in the settlement offer.

If the settlement offer makes no reference to deleting the negative info from your credit report, I would re-write the settltment offer, include those final two paragraphs, and send it back for them to sign before you send any money.

Have they aggreed to remove the stuff? if so, it should be no problem for them to sign it. If you are trying to be sneaky and include it as part of the deal, I would just send it to them, and on the check make reference that the payment is being made explicitly upon the terms of the letter dated xx/xx/03, attached hereto.

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Even with that written on the check they don't have to honor that part of the agreement in any state...unfortunately.

A part of a contract, legally agreed to or not, that contains something illegal will not be enforced by a court. It is against the FCRA for a furnisher to provide false information.

HOWEVER, they can delete the tradeline and possibly even the negative information. What is the difference? They may be able to delete 120+ days late, but can't necessarily put "Paid As Agreed". There was some discussion on this in another thread a while back.

Just remember, a furnisher is not obligated under law to provide the CRAs with anything; if they do they must ensure its accuracy.

Finally, chances are they won't agree to it. Do you need this tradeline on your CR? Is it adding a lot to your history?

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