Form of settlement offer

[johnransom]

As noted in my previous post, I'm not even sure I shoul actually follow through on this offer, but this would be the first settlement I actually obtain on any of my accounts. Here's the letter I drafted for it. Does this cover me adequately?

johnransom

My address

Pioneer Credit Recovery, Inc.

Attn. XXX

February 16, 2005

Re: Account #XXX

Dear XXX:

As discussed in our telephone conversations, Pioneer Credit Recovery is representing Citibank (hereinafter collectively “Creditors”) against johnransom (hereinafter “Debtor”) in collection of the above-referenced. The parties have agreed to terms of settlement as follows:

1. The amount to be paid by Debtor shall be $455.71. This shall constitute payment in full.

2. The Creditors shall have no further claims against the Debtor.

3. Payment shall be received by Creditors at their offices by 7:30 a.m. 2/25/05, or as near to that time as mail schedules permit.

4. Upon receipt of payment, the Creditors agree to delete all references concerning the account to this account from the information provided to credit reporting agencies. Creditors shall forward evidence of such deletion to the Debtor within 15 days of receipt of payment.

5. All terms are binding upon both parties.

6. By signing this agreement, the signer also affirms that he or she is a true representative of the Creditors and is fully authorized to make this agreement

Please return a signed and dated copy of this letter to me at the above address.

Sincerely,

johnransom

The undersigned hereby accepts all terms as set out above on behalf of Pioneer Credit Recovery and Citibank.

Signature Print Name Date

[Recovering Attorney]

I would say they agree to delete or remove the TL from the CRAs and they further agree to take steps to do so by March 10 and give you written advice of their steps by March 15. And a failure to do either is a failure of consideration.

[johnransom]

Well, Pioneer called my home this evening while I was out and talked to the DW. Get this: one of the things they told her was that I had to fax them permission for them to fax me - because of privacy laws. So maybe they won't be getting the settlement after all.