Payment to CA accepted
Date: Wed, 12/13/2006 - 09:37
I sent a payment offer plan to some collection agencies offering to pay off the account within 6-8 months. I also sent 10% of the balance as a good faith offer when I sent the letter. Only one responded back accepting my offer. The others have not but they did cash the money orders I sent them. I asked that they respond and if the cashed the money orders then I would take that as them accepting my offer. My question is, what is a good letter to send them now? I was thinking that I saw they cashed the money order and I take that as acceptance. I would like to add in my follow up that the account show paid as agreed and closed. Does that sound right? Does anyone have a good form letter I can use?
Thanks
BE YOURSELF
If you write a letter it does not have to be fancy. I am telling you this because I have been assigned to read letters at my job. They will not all tell you they accept your offer. THEY WANT IT IN FULL. But you can assure your money orders will continue to be cashed and applied to your balance. They will not mail them back to you.
Can I ask in my letter that once paid off that they notify that
Can I ask in my letter that once paid off that they notify that my account is paid in full?
I just don't want it to come back later and bite me.
I just don't want it to come back later and bite me.
Beauty, this is what I typed up. As a collector, do you think
Beauty,
this is what I typed up. As a collector, do you think this would be sufficient?
_______________________________________________
Quote:
In a letter from me to your organization dated November 10th, 2006, I offered a payment plan on an outstanding debt of mine that has been placed with your firm. I also enclosed a partial payment to be applied towards the balance as a show of good faith. I have not heard from your firm but I see that you cashed the Moneygram money order number XXXXXXX on November 17th 2006. By this action I am assuming that your organization has agreed to my terms. I am enclosing a second payment via money order. Upon receipt of the final payment I would ask for, in writing, that the debt will be paid in full and the debt reported to the credit reporting agencies as ???????account closed??????? and "paid as agreed" as opposed to ???????PAID CHARGE OFF??????? for an additional amount of time on my credit report. It is my position that I have suffered enough as a result of this and other debt problems. Thank you for your assistance in helping me to resolve this matter. Sincerely, |
I don't think I would put in the It is my position line, but ins
I don't think I would put in the It is my position line, but instead add something like "I am working toward repairing my credit". I think taking some responsibility would show effort to correct past mistakes. I would also leave out the "as opposed to "paid charge off" and just request the "account closed and/or paid as agreed".
This was advise I got from a credit counsler.
SOUNDS GREAT
LISTEN, they are not going to always cooperate due to the nature of the bus. they have to give you a hard time or thier boss will cut their heads off.
yeah that sounds a little better and not so demanding. Thanks fo
yeah that sounds a little better and not so demanding. Thanks for the tip.
On a side note, one of them is Palisades and I keep hearing bad things about them. Fortunately for me the debt is small, $300 and I know the debt is mine w/o needing it to be validated.
I would send them a "notarized" letter with your next payment an
I would send them a "notarized" letter with your next payment and state it as, consider this payment in full if cashed. Then if they cash it, you have documentation that the CA has agreed to the terms by cashing it.