Here is my sample letter to a debt collector. It is a small debt, so I am willing to pay it off and ask for them to put PAID IN FULL or PAID SATISFACTORY in credit report.
Here is excerpt of the letter I would like if you guys can give comment if I cover all my bases.
Thank You in advance.
I am willing to pay this account IN FULL for the amount of $129.04 as full settlement of this account; provided you agree to provide a written confirmation showing this account as PAID IN FULL and report to the credit reporting agencies (namely Equifax, TransUnion and Experian) as PAID IN FULL or PAID SATISFACTORY of the debt. However, should you choose not to provide me with confirmation, I will use your acceptance of this payment as proof that you agree the account is PAID IN FULL.
Do these agreement works with debt collector? I modify this from sample I found on the web. Can having them accepting the check as them agreeing to the payment?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.