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A little help for the new guy


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What's up everybody? I'm new here, and I'm just starting the credit repair process. I have just a couple of questions to ask if you don't mind?

I'm in the begining process of settling a few debts. I want to know if I have more that 1 account from the same creditor on my report, should I add them all to the settlement letter or should I write an individual letter for each account?

My next question is, does anyone have any samples of settlement letters I can use as a template for my own, or know of any other sites where I can find some? Your help will be greatly apreciated.

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Greetings and welcome!

You have found yourself a true GOLD MINE. Just make sure you do A LOT of reading. If you can't find what you're looking for, there is a "search" function and all you need do is enter in some basic topic info such as..."Palisades collection..." or, "Paying collection accounts..." etc.

As far as your questions--that's tough to say. There are positives and negatives.

The positive is if they can see that you have OTHER accounts with them to settle, they may be more willing to offer you something or agree to something knowing the amounts are larger combined...

The negative is if they see this information knowing you have "other" accounts with them may lessen their willingness to work with you. In other words, you didn't just make "one" bill, you made multiple.

If it were me, I'd form a separate letter for each debt (I'd also work on each one individually so as not to overwhelm myself or tax my finances) and in my letter I would apologize for my indebtedness to them. I'd make sure to go at it from the stance that you aren't looking to bail on what you owe, but you're aknowledging the fact that you have multiple debts.

Sample settlement letters can be found here at the site. Just look towards the top of this page and to the upper right of "Good credit is sexy" ad you'll see a link that says, "sample letters" try there...

Good luck with this and remember, don't expect automatic results. It took awhile to get this way and with time and effort you'll be able to fix it.


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