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HELP, plz!

Date: Fri, 10/05/2007 - 14:43

Submitted by anonymous
on Fri, 10/05/2007 - 14:43

Posts: 202330 Credits: [Donate]

Total Replies: 8


Quote:
Letter of acceptance of the verbal offer for debt settlement
Dear Creditor,
Re: account no.

This is to confirm the settlement offer agreed upon by me and your customer service representative , on

I really appreciate that your company is willing to work with me in settling this debt.

The amount we agreed to settle this debt in full is $_____. However, any references to late payment or charge offs on this account should be removed from my credit file.

If the above terms are acceptable to your company, please sign the attached letter of agreement and return the copy to me. Only upon the receipt of the ‘signed agreementÂ', I will send you a money order in the amount stated above.

Yours truly,

Your Signature
Your Name
Encl:



I am going to send this letter to Collection agency.

I cannot find the sample of attached letter of aggrement.

Can anybody help me?


I don't think they will sign it unless you give a date after which the offer is no good anymore.

From their point of view, the whole point in settling versus demanding full payment, is to get you to pay right now. If they agree to settle without providing an expiration date, and then you decide not to pay them, then you could come back in 3 years and claim the settlement offer still valid.

Just my take. I have drawn these up for my own customers and I would never sign a settlement that didn't require payment to be made within a certain time frame.


lrhall41

Submitted by DebtCruncher on Fri, 10/05/2007 - 17:21

( Posts: 2293 | Credits: )


Quote:


CA NAME
CA ADDRESS
CA CITY,ST,ZIP

Ref: Creditor
Acct: Acct No



Pursuant to a telephone conversation of {date}, {CA Name} certifies and attests as follows:

1) has been retained to serve as authorized representatives of .

2) has been authorized to accept $X.XX as settlement in full on the above referenced account if consummated on or before {expiration date - give yourself 30 days}.

3) Upon receipt of $X.XX, {your name} will be released from any further obligation to regarding the above-referenced account.


By:_______________________
Signature

Title:____________________


Date:______________________________


lrhall41

Submitted by DebtCruncher on Fri, 10/05/2007 - 17:34

( Posts: 2293 | Credits: )


I am assuming that the CA is working for the original creditor, and not that they have actually purchased the debt. In that case, the original creditor would go int the blanks. For example, you had a credit card with Chase Bank. Chase still owns it, but sent it to XYZ Recovery for collection ... Chase would go in the blank.

If this situation is different, then it might need to be worded a little differently. Let me know...


lrhall41

Submitted by DebtCruncher on Sat, 10/06/2007 - 00:22

( Posts: 2293 | Credits: )


When I first called to original creditor from my credit report, they told me my account is cared by (B).

I sent to DV letter to (B), they didn't answer.

So,,,I called to original creditor again, they told me my account is cared by (C) now.

I got DV letter from (C), and I am going to send 'Letter of acceptance of the verbal offer for debt settlement'.

in these case, who is in the blank?

---------------------
and thanks a lot!


lrhall41

Submitted by on Sat, 10/06/2007 - 09:09

( Posts: | Credits: )