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Making payment arrangements letter and a few questions too.....

New Contributor

Making payment arrangements letter and a few questions too.....

Hi everyone.  I am new here and got the idea of writing a letter to my creditors from reading this forum.  I wrote one today and would like some advise on it. 
 
 

Dear sir or madam,

From the end of 2006 to present, I have been dealing with a bad case of depression.  Unfortunately, because of this, I was unable to deal with or pay my financial obligations.  After several medication changes in the last year, I am finally feeling better and ready to deal with my current financial situation.

I honestly regret having gotten so behind on my bills and have put your company in this situation.

What I am hoping to accomplish with this letter is to make payment arrangements with you and if possible, maybe you could waive some of the late fees.  I completely understand if this is not possible.

Since I will be sending this letter to all my creditors, I would hope that you could accept a $25 a month payment.

I sincerely thank you for reading my letter and considering my request.  I hope that at some point in the future, we will be able to do business again.

 

Now,  I have a few questions. 

  • The different credit bureaus are reporting 2 different addresses on my credit report.  Which one do I send the letter to?  Both?
  • I have an old auto loan from the end of 2003 that is paid.  The acct. status is showing 30 and 60 days late.  Do I need to write a letter to the creditor or dispute this through the credit bureaus?  Is this affecting my FICO. 
  • If I write the letters to the original creditors and they accept payment arrangements, will the calls from the CA stop?
  • Should I hand write the letters or print out from the computer?

Thank you in advance for reading my post and for helping me out.  My Equifax FICO is 515.  I am trying to get it up to 600 within the next 6 months or less so I can try and buy a condo.  I am hoping the letters will help.

Sherri

Sherri
Scores as of 2/27/08: EQ: 515 EX: 489 TU: 482
Scores as of 4/02/08: EQ: 494 EX: 494 TU: 485
Message 1 of 4
3 REPLIES
Established Contributor

Re: Making payment arrangements letter and a few questions too.....

Always type your letters don't even sign your name, type that also.  At least, that's the case when dealing with CA's - I'd probably do the same with an OC though as well.  Anyone can be sneaky and evil, you never know haha
 
I'll let a pro answer the rest.
 
-Ja' Net
Start 2/2008: TU 495 || EX 539 || EQ 528
Now 5/2013: TU 716 || EX ??? || EQ 702

Slate: $5000 Simplicity: $5000 David's Bridal: $3500 SW Chase: $3000 FNBO: $3000 Barclay NFL: $2500 BofA: $2400 Discover IT: $1700 Walmart: $1500 Victoria's Secret: $1000 Cap1: $750 Amex Zync: NPSL
(2 derogs to go until I'm squeaky clean in 2014!)
Message 2 of 4
New Contributor

Re: Making payment arrangements letter and a few questions too.....

Thanks for your reply.  I sent a PFD letter and printed it out.  I hope it helps.  Smiley Happy
 
Sherri
Sherri
Scores as of 2/27/08: EQ: 515 EX: 489 TU: 482
Scores as of 4/02/08: EQ: 494 EX: 494 TU: 485
Message 3 of 4
New Contributor

Re: Making payment arrangements letter and a few questions too.....

Hi again everyone.  I am going to post the link to my original post and then you can see the one reply I got.
 
 
I hope this will get everyone's brain juices flowing.  Smiley Happy  I would also like to add to the letter that I would prefer dealing with the OC, not the CA and would like them to take back the acct.  Is this possible?  Thanks. 
 
Sherri
Sherri
Scores as of 2/27/08: EQ: 515 EX: 489 TU: 482
Scores as of 4/02/08: EQ: 494 EX: 494 TU: 485
Message 4 of 4