before paying a settlement do i have to get a letter?

Johnny- be sure and get any and all settlement offers in writing. Also, if they have agreed to mark it settled in full,paid in full, whatever, get that in writing too, before paying them, if you can.

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Best of luck to you..karen :D

Can u plz tell us what the settlement letter they sent u states on it?? Most times they say if paid by XXXX date this acct will be considered SIF. Does urs say this?? Do they give u a date to pay by??
Good Luck,
Ang

You may want to call them and see if they would settle for less as well. Waiting 90 days usually does not offer the best settlement.

the letter says call us by Nov 13, 2007 if i want to accept a 70% offer and it lists the account number at the top. I wonder if i should ask for a letter thats more specific stating the exact amount of $4900 and that the account will be considered settled as agreed.

I would ask for a lower amount as suggested by lost and they will probably settle somewhere in the middle! And definately ask for a letter stating if paid by XX date it will considered PIF or if nothing else SIF.
Good Luck,
Ang