Advice on following negotiation letter
Date: Mon, 01/26/2009 - 20:17
Okay, so I'm choosing to go it alone when negotiating with an attorney who has served me with a summons/complaint (which I answered with affirmative defenses, etc. so they couldn't get a default judgment against me for this alleged credit card debt that is over 5 years old)
I recently received a letter from the attorney offering to settle before the pretrial hearing in a month. Since I don't want to call them because phone negotiations are never a good thing, the following is the letter I drafted with my offering (~50% of the ORIGINAL debt...they've of course added on a ridiculous amount of interest making the amount more than 2X what it was). Anyway, feedback much appreciated. I'm planning to send cert. mail tomorrow!!!
Dear Ms. xxx,
I am writing in response to the recent correspondence I received from your law firm in regards to file number xxxx. The form letter from xxxx accompanying the papers telling me of the pre trial conference date declared your firm’s offer to negotiate a settlement of this matter out-of-court before the pre trial conference set for xxxx xxx, 200x at xx:xx PM.
I wish to settle this matter as well but I must note that I have not yet verified this debt as legitimate and, as you are undoubtedly aware, I have a full right to do so under Fair Debt Collection Practices Act. However, I will try to save us both time and effort and settle this alleged debt by offering a fair lump sum payment (as payment in full.). Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Again, I have not agreed that this debt is mine and have an option and a right to request further proof from your agency regarding this debt. I also know that xxxxs Collections, LLC regularly purchases debts from creditors in bulk and at pennies on the dollar. Therefore the addition of $x, xxx.xx to the original alleged debt of $x,xxx.xx is flagrant. I am willing to pay a total amount of $xxxx.xx in a lump sum as a full satisfaction of this alleged debt. Upon receipt of the above payment, xxxx Collection, LLC agrees to change the status to “PAID AS AGREED†with all three credit reporting agencies immediately. Your client must further agree to remove all previous notations of any delinquency related to this account from all three credit reporting agencies. Incidentally, I have never received any correspondence in reference to this alleged debt from xxxx Collection, LLC, and have never received any validation of this debt with my signatures, statements, etc.
I will communicate with you via written correspondence. If you wish to communicate via email, that is acceptable as well; as long as everything is documented in writing. In addition, when my payment for the amount of $x,xxx.xx is made, you will submit a motion to dismiss with prejudice to the xxxx County Court immediately and let them know of the out-of-court FINAL settlement of this alleged debt. I will also do so with the xxxx County Court.
Upon my receipt of this signed acknowledgment, I will immediately send you funds priority mail to settle this matter. This is not a renewed promise to pay but rather a restricted offer only. If all the terms can not be met, the offer will be void.
Collection Agency Name:____________________
CA officer signature:____________________ CA officer signature date:_________________
I look forward to hearing from you soon.
Sincerely,
xxxxxx
email: xxxxxxxx
CC: xxxx (head of law firm)
I recently received a letter from the attorney offering to settle before the pretrial hearing in a month. Since I don't want to call them because phone negotiations are never a good thing, the following is the letter I drafted with my offering (~50% of the ORIGINAL debt...they've of course added on a ridiculous amount of interest making the amount more than 2X what it was). Anyway, feedback much appreciated. I'm planning to send cert. mail tomorrow!!!
Dear Ms. xxx,
I am writing in response to the recent correspondence I received from your law firm in regards to file number xxxx. The form letter from xxxx accompanying the papers telling me of the pre trial conference date declared your firm’s offer to negotiate a settlement of this matter out-of-court before the pre trial conference set for xxxx xxx, 200x at xx:xx PM.
I wish to settle this matter as well but I must note that I have not yet verified this debt as legitimate and, as you are undoubtedly aware, I have a full right to do so under Fair Debt Collection Practices Act. However, I will try to save us both time and effort and settle this alleged debt by offering a fair lump sum payment (as payment in full.). Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Again, I have not agreed that this debt is mine and have an option and a right to request further proof from your agency regarding this debt. I also know that xxxxs Collections, LLC regularly purchases debts from creditors in bulk and at pennies on the dollar. Therefore the addition of $x, xxx.xx to the original alleged debt of $x,xxx.xx is flagrant. I am willing to pay a total amount of $xxxx.xx in a lump sum as a full satisfaction of this alleged debt. Upon receipt of the above payment, xxxx Collection, LLC agrees to change the status to “PAID AS AGREED†with all three credit reporting agencies immediately. Your client must further agree to remove all previous notations of any delinquency related to this account from all three credit reporting agencies. Incidentally, I have never received any correspondence in reference to this alleged debt from xxxx Collection, LLC, and have never received any validation of this debt with my signatures, statements, etc.
I will communicate with you via written correspondence. If you wish to communicate via email, that is acceptable as well; as long as everything is documented in writing. In addition, when my payment for the amount of $x,xxx.xx is made, you will submit a motion to dismiss with prejudice to the xxxx County Court immediately and let them know of the out-of-court FINAL settlement of this alleged debt. I will also do so with the xxxx County Court.
Upon my receipt of this signed acknowledgment, I will immediately send you funds priority mail to settle this matter. This is not a renewed promise to pay but rather a restricted offer only. If all the terms can not be met, the offer will be void.
Collection Agency Name:____________________
CA officer signature:____________________ CA officer signature date:_________________
I look forward to hearing from you soon.
Sincerely,
xxxxxx
email: xxxxxxxx
CC: xxxx (head of law firm)
correction....."I have not yet verified this debt as legitimate"
correction....."I have not yet verified this debt as legitimate"
"you have not validated this debt"
Add that the remainder can not be resold for further collection.
Add that the remainder can not be resold for further collection.
