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help with a debt settlement offer/agreement


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Hi, i need help with a full proof deb settlement offer/agreement.

I want to tailor the following letter so that :

1. The account is removed from my credit report ( by the collection agency or original creditor)

2. Settle once and for all for a portion of the original debt

3. That once they cash the check they give up the right to sue me in the future and or sell my "claimed" debt to another agency

4. what should i write on a check to further secure my settlement (see point 3)

5. give the credit or collection agency a limited time to respond to my settlement offer, when they do not reposond with in a specifit time frame it will make the agreement null.

6. How do i address the original creditor and how do i address the collection agency?

7. can you explain to me the following part? - "Max Creditor, referred to as CREDITOR and Jane Doe, referred to for the purposes of this transaction as DEBTOR,"

8. What else should I cover in the letter


Max Creditor, referred to as CREDITOR and Jane Doe, referred to for the purposes of this transaction as DEBTOR, agree to settle the alleged debt which the CREDITOR says is owing. DEBTOR is not admitting that the debt is hers, but agrees to pay the amount in order to resolve the situation. CREDITOR, hereby agrees to compromise the alleged debt under the following terms and conditions:

The CREDITOR states that the alleged debt due is $xxxx.xx. The parties agree that the CREDITOR shall accept the sum of $xxxx.xxas full payment on the alleged debt. The acceptance of the payment will serve as a complete discharge of all monies due.

In addition, upon accepting of the $xxx CREDITOR agrees to remove the information about the debt from DEBTOR's credit report.

This compromise is expressly conditioned upon the payment being received by January 15, 2007. If the DEBTOR fails to pay the compromised amount by January 15, 2007, this agreement shall be null and void.

This Agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.

Dated: _______________

Signature: ____________

Max Creditor


Signature: ____________

Jane Doe

Thank you in advance.


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