I have read through the Verizon/Pinnacle posts but not seen an answer to my question so far.
In 2012 I signed a phone contract with Verizon including a nice phone. Several months later I took a job overseas at the same time the phone was stolen. I never delt with it and now that I am back and trying to clean up my credit I see Pinnacle Credit Solutions is showing as a collection on all three reports. I have drafted a pay for delete letter offering to pay 40% of the $754 since that is the percent I have seen on other collection letters sent to me from other companies. Is this the best route to go? It sounds like calling Verizon directly is pointless since they have sold, or assigned, the debt to a collector. Also, they list a different mailing address in each credit reporting agency. Which one do I use?
Thank in advance.
Pinnacle Credit Services
PO Box 5617,
HOPKINS, MN 55343
Re: Collection Account for Original Creditor Account #: XXXXXXX
Original creditor: Verizon Wireless
Amount: $754.00
To Whom It May Concern:
This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my credit reports which omits the last few digits.
In the spirit of compromise, I am willing to pay a settlement percentage of this account if you agree to the immediate deletion of this account from any and all credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to have this item removed from my credit files. It is not to be construed as an acknowledgment of liability for this debt in any form.
If you agree to the terms and accept this agreement, certified funds for the settlement amount of three hundred and six dollars and ten cents ($306.10) will be sent to Pinnacle Credit Services in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. Specifically, the three following derogatory collection accounts:
TransUnion:
12 VERIZON WIRELESS
Account# xxxXXXX
PO Box 5617,
HOPKINS, MN 55343
Amount: $754
Experian:
PINNACLE CREDIT SERVIC
Account# xxxXXXX
7900 Highway 7 #100
Saint Louis Park, MN 55426
Amount: $754
Equifax:
PINNACLE CREDIT SERV
Account# xxxXXXX
PO Box 640
Hopkins, MN 55343
Amount: $754
Pinnacle Credit Services agrees to delete ALL information regarding this account from ALL 3 of the credit reporting agencies WITHIN TEN CALENDAR (10) DAYS following receipt of payment as specified above and will not discuss the terms of this settlement with anyone, excluding your client on this account.
If you agree to the above terms, please prepare a letter on your company letterhead explicitly agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Pinnacle Credit Services. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.
Please address all correspondence regarding this account to:
Sincerely,
________________________________________ Date: March 16, 2015
Starting Score 2/2015: TU 519 EX 524
If this is still inside the SOL, the offer most likely will be insufficient because they can just sue you for the full balance and other charges, fees. SOL is considered written contract for utilities. Typically if you are trying to get a PFD you would offer to pay the balance in full. Verizon unfortunately is a tough nut to crack, so you are going to want to work with the CA to try and get this removed.
Thanks for the reply gdale6,
It has been over 2 years since I stopped paying (April 2012) so the SOL should be expired. I read it is 2 years?
Anyway, I mailed the certified letter off to Pinnacle today so lets see what happens. This is my biggest baddie that isn't going to drop off for some time, so I need to get rid of it.
Joe
@JoeDiver74 wrote:Thanks for the reply gdale6,
It has been over 2 years since I stopped paying (April 2012) so the SOL should be expired. I read it is 2 years?
Anyway, I mailed the certified letter off to Pinnacle today so lets see what happens. This is my biggest baddie that isn't going to drop off for some time, so I need to get rid of it.
Joe
No state that I know of has a 2 year SOL on written contracts. If you are referring to a federal law that states 2 years that doesnt apply to end users that SOL applies only to billings between carriers.
Right, I knew that. 
~
Thanks.
