Is this a precise PAY to DELETE letter??? (sending by close of business today)

[Bi Business]

In Re: MY NAME/Account # XXXXXX

Dear Collection Manager:

It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. I can save us both some effort & time by settling the debt out.

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that your agency regularly purchases debts in the course of doing business.

Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt. I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that you will report the debt as mentioned below.

While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt.

My goal is to arrange a term acceptable to both us since this debt is questionable.

I will pay your company the amount of $99.00 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to remove this account from all three of my credit bureau reports. You also agree to accept payment as being in full and to never transfer any possible balance to another entity.

If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation.

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

Name of Creditor: Global Credit Network

Signature of company officer:

Date:

Sincerely,

MY NAME

MY ADDRESS

[jasen]

Not bad at all. Maybe a bit wordy for my taste, but you covered the bases I think you need to. Looks pretty safe.

[lovebug5]

In Re: MY NAME/Account # XXXXXX

Dear Collection Manager:

It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. I can save us both some effort & time by settling the debt out.

Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet that this debt is mine and have the option to seek further proof from your agency of this debt. It has also come to my attention that your agency regularly purchases debts in the course of doing business.

Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt. I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you means little to me if we cannot mutually agree that you will report the debt as mentioned below.

While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication and request full lengthy verification of the debt. My goal is to arrange a term acceptable to both us since this debt is questionable.

I will pay your company the amount of $99.00 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to remove this account from all three of my credit bureau reports. You also agree to accept payment as being in full and to never transfer any possible balance to another entity.

If you concur with these terms please acknowledge with your signature and return it to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation.

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

Name of Creditor: Global Credit Network

Signature of company officer:

Date:

Sincerely,

MY NAME

MY ADDRESS

IMHO...

When sending letters to CA's, I attempt to refrain from including too much information that they already know. If I want them to understand that I am an informed consumer, I cite the applicable sections of the FCRA/FDCPA which protect me and substantiate what I'm saying in my letter. I, personally, would take out all of the information which is telling the CA what they can do...And, personally, would remove the numerous references to the debt being unverified. Why?

If the debt is unverified, yet you are refusing to acknowledge ownership over the debt, why are you willing to pay the debt?

Is this CA the sole data furnisher of information regarding this account to your

CR's? How old is this debt? Are you in or out of the 30-day timely DV window?

[jasen]

To add to that...

besides not repeating what they know, be very careful to not tell them anything they may not already know.

[lovebug5]

To add to that...

besides not repeating what they know, be very careful to not tell them anything they may not already know.

Ooh, very very true.

You always want your letters to showcase your power as an informed consumer. You never want your letters to transfer the power to the CA's and give them leverage against you. Good point, Jasen!

[Bi Business]

IMHO...

When sending letters to CA's, I attempt to refrain from including too much information that they already know. If I want them to understand that I am an informed consumer, I cite the applicable sections of the FCRA/FDCPA which protect me and substantiate what I'm saying in my letter. I, personally, would take out all of the information which is telling the CA what they can do...And, personally, would remove the numerous references to the debt being unverified. Why?

If the debt is unverified, yet you are refusing to acknowledge ownership over the debt, why are you willing to pay the debt?

Is this CA the sole data furnisher of information regarding this account to your

CR's? How old is this debt? Are you in or out of the 30-day timely DV window?

Debt is from 2003, and scheduled to fall off in 2010. A bit too long over 99.00. OC told me to talk to CA. So, I have to work w/ them now. However, I'm not interested in paying 99.00 if it's not going to help me out.

[lovebug5]

Debt is from 2003, and scheduled to fall off in 2010. A bit too long over 99.00. OC told me to talk to CA. So, I have to work w/ them now. However, I'm not interested in paying 99.00 if it's not going to help me out.

Keep in mind that, because this debt is old, DV'ing the CA might prove incredibly useless in your situation as they're not legally required to do anything other than look at your letter and doodle on it.

That being said, my next question is: Is the CA the sole furnisher of data to the CRA's on this account? Or is the OC reporting the account as well?

IF the OC has any information reported on this account to the CRA's, they legally have to deal with you. Why? Section 623 of the FCRA offers you the right to dispute any information directly with the original furnisher of information and request and investigation which, if the OC is reporting, would be the OC. You have to provide them reasoning for the investigation and any supporting documentation that you may have and they are required to complete the investigation and respond to you within 30-days of receipt. In this respect, the OC cannot blow you off.

However, IF the CA is the sole furnisher of data on this account to the CRA's, you can still request an investigation into the account per Section 623 of the FCRA as they would be the sole and original data furnishers to the CRA's. Unlike the DV process since this would be untimely, the CA would be legally obligated to respond to your request within 30-days of receipt.

If you're looking to go straight to PFD, I would just remove the information that appears to be too much and I would remove the constant mention of validation of the debt, since the DV process isn't applicable due to the age of the debt in question. Then send your letter CMRRR.

[Bi Business]

Keep in mind that, because this debt is old, DV'ing the CA might prove incredibly useless in your situation as they're not legally required to do anything other than look at your letter and doodle on it.

That being said, my next question is: Is the CA the sole furnisher of data to the CRA's on this account? Or is the OC reporting the account as well?

IF the OC has any information reported on this account to the CRA's, they legally have to deal with you. Why? Section 623 of the FCRA offers you the right to dispute any information directly with the original furnisher of information and request and investigation which, if the OC is reporting, would be the OC. You have to provide them reasoning for the investigation and any supporting documentation that you may have and they are required to complete the investigation and respond to you within 30-days of receipt. In this respect, the OC cannot blow you off.

However, IF the CA is the sole furnisher of data on this account to the CRA's, you can still request an investigation into the account per Section 623 of the FCRA as they would be the sole and original data furnishers to the CRA's. Unlike the DV process since this would be untimely, the CA would be legally obligated to respond to your request within 30-days of receipt.

If you're looking to go straight to PFD, I would just remove the information that appears to be too much and I would remove the constant mention of validation of the debt, since the DV process isn't applicable due to the age of the debt in question. Then send your letter CMRRR.

Wow, you guys are great here!

Yes, the CA is the only one reporting this info. I think I'll just go for pay for delete CMRRR and see what happens. What happens if they still don't agree to delete? Should I pay it anyway and later dispute it w/ the credit bureaus?

[lovebug5]

Wow, you guys are great here!

Yes, the CA is the only one reporting this info. I think I'll just go for pay for delete CMRRR and see what happens. What happens if they still don't agree to delete? Should I pay it anyway and later dispute it w/ the credit bureaus?

People here are going to have differing opinions on which was you should go with this.

Go for the PFD with the CA. If they refuse to agree to your PFD offer, your account will updated to "Paid" versus "Derogatory" which will do nothing for your score...And, if you dispute the accounts with the CRA's once you pay, you won't have any agreement in writing regarding a deletion. If you go for the PFD, be aggressive with them with it. That's my opinion, which again may be different from other's..

[Amerikaner83]

People here are going to have differing opinions on which was you should go with this.

Go for the PFD with the CA. If they refuse to agree to your PFD offer, your account will updated to "Paid" versus "Derogatory" which will do nothing for your score...And, if you dispute the accounts with the CRA's once you pay, you won't have any agreement in writing regarding a deletion. If you go for the PFD, be aggressive with them with it. That's my opinion, which again may be different from other's..

Look at it this way:

I own a debt of yours. You tell me that you will pay it if i remove it from the Credit reports. I don't agree (and by not replying to a PFD is the same as not agreeing - I just used your PFD as kindling...). You send me money anyhow. I'm happy - i don't have to do anything. You dispute - I verify, especially if it was recent.

IMHO - If it's not already paid - and you can't get PFD in writing - Do Not Bother! It'l make your credit WORSE. A Collection is a collection whether or not it's paid...and updating to paid will do what class? It'll show up as RECENT, which does you no good.

JMHO

[merkurfan]

My last PFD went like this.

This is my 5th attempt to settle this debt. I understand you are in the collection business and your goal is payment of the account. I have sent 3 letters telling you I would pay this account if you agreed to remove your listing from my credit reports. You ignored them. I sent one that said I'd pay you if you agreed to ignore the dispute from the reporting agency when it comes though. you ignored that one as well. my last offer was a simple non-disclosure agreement that businesses all over america use. you ignored that one as well.

You want my money. I want a good credit report. Are you telling me that you would pass up the chance to settle this debt that works out well for your bottom line over a few lines on someones credit report?

It should be obvious by now that I will not pay this 2 year old collection with out an agreement between us that the information will be removed from my reports. I have money here with your name on it, all you need to do is agree to one of my prior offers or come up with your own.

Now, what will it be???

I kinda hope they do sue me (they have said the OC was thinking about it 5 months ago) I have sent 6 settlement offers to the CA and the OC. (I always CC'd the OC so they knew I was trying to pay their debt) While they where all ignored with out counter offers I know the judges rather well in the county they would be suing me in. Lets just say I am 95% confident the judge would FORCE them to work with me as they will see this thing in their court room as a COMPLETE waste of the courts time. The judges only know what I have taught them about the credit laws, and since they are just county judges they are not all that interested in the federal stuff. They are just going to see a unpaid debt, 6 offers by me to pay it and two companies that have completely ignored the offers and opted for court.