Debt Settlement Letter W/no Longer Verifiable Letter
Hello guys I came up with this letter idea, I haven't use this letter yet, however I would like to know if this letter is a good one to get items remove. Please let me know what you think about these letters, thanks
Your Name
Address line one
Address line two
Date:
Creditor Address 1
Creditor Address 2
Re: Account Number
Dear Sirs:
This letter is an offer to amicably settle the above account. It is not to be construed as an acknowledgment of my liability for this debt in any form.
I will pay your company the amount of $____ as full settlement of this account.
If you accept this agreement, I will send you a money order or certified cashiers check for the settlement amount of $______ in exchange for a full deletion of all references regarding this account from my credit profile with all national Credit Reporting Agencies and full satisfaction of the debt. This agreement is binding and will be void should you not hold up to your end of the agreement.
Upon discharging this debt, you agree to notify each credit bureau to which you report credit information that any adverse credit information regarding my account with you is no longer verifiable and should be deleted from my credit report, and will sign the “No Longer Verifiable Account letter” enclosed and return by mail the documents to me.
If you agree to the above, please acknowledge with your signature and return a copy to me. Upon receipt of this signed acknowledgment, I will promptly send you a money order or cashiers check in the amount stated above.
Accepted and Agreed
Company:________________________
Name:__________________________
Tittle:____________________________
(No Longer Verifiable Letter)
Date:
Equifax
Trans Union
Experian
Ref: Account #
To Whom It May Concern:
We formally notify that account???? Is no longer verifiable and should be deleted from consumer’s credit report.
We appreciate your assistance.
Sincerely,
Company:________________________
Name:__________________________
Tittle:___________________________
Address:_________________________
Phone: ( )__________________
try to have them report as "paid as agreed" That way it's a + on the report.
bump
what is bump?????
I like the idea, I am trying to use this same tactic myself. My question is how does this work when the original creditor has already handed the case over to a debt collection agency? The debt collection agency is not willing to play ball. Is it still possible to do this with the original creditor and have it work?
Thanks,
JS.
:-?
Well just send this letter to the collection agency, they will contact the original creditor , they will say yes or no!!!!!
Never deal with collection agencies. Always directly with the original creditor.