Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Critique pls.

Amount: $1320.51 (amount includes $290.51 collection costs)

 

To Whom It May Concern:

 

This letter is to inform you that the validity of this debt is disputed.

 

In the spirit of compromise, I am willing to pay this account IN FULL (minus $290.51 collection costs) if you agree to not report this account from to any credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to prevent this item from appearing on 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, funds for the settlement amount will be sent to General Revenue Corp. in exchange for prevention of ALL references regarding this account from being reported to my credit files and full satisfaction of the debt.

 

General Revenue Corp. agrees to prevent reporting of ANY information regarding this account to ANY 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 contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such 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 General Revenue Corp. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

 

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act via my attorney.

 

Please address all correspondence regarding this account to:

 

Can I put something in there about the OC not reporting either?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Moderator
Posts: 14,034
Registered: ‎04-15-2011
0

Re: Critique pls.

Sorry but I don't like this at all.  First off, don't ever put that you dispute anything on a PFD.  This wording will just make them put this account in dispute with the CRAs and then they will validate.  In fact, I would put that this is not a dispute.

 

Too many demands, within so many days, etc.  Remember a PFD is a type of GW.  Write it as such.  Don't put demands on it.

 

As far as the amount, don't list the excluded amount for fees.  Just put down the amount you are willing to pay.

 

The CA has no control over whether the OC reports or not.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Community Leader
Epic Contributor
Posts: 25,712
Registered: ‎03-19-2007
0

Re: Critique pls.

+1

Valued Contributor
Posts: 2,669
Registered: ‎04-25-2011
0

Re: Critique pls.


jordanmedical wrote:

Amount: $1320.51 (amount includes $290.51 collection costs)

 

To Whom It May Concern:

 

This letter is to inform you that the validity of this debt is disputed.

 

In the spirit of compromise, I am willing to pay this account IN FULL (minus $290.51 collection costs) if you agree to not report this account from to any credit reporting agencies (Equifax, Experian and TransUnion). The purpose of this settlement is merely to prevent this item from appearing on 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, funds for the settlement amount will be sent to General Revenue Corp. in exchange for prevention of ALL references regarding this account from being reported to my credit files and full satisfaction of the debt.

 

General Revenue Corp. agrees to prevent reporting of ANY information regarding this account to ANY 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 contacted by any third party, including credit-reporting agencies, Collection Agency will not acknowledge that any settlement offer was made, accepted or executed and will, in fact, deny knowledge of any such 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 General Revenue Corp. It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

 

Your response must be postmarked no later than 15 days from your receipt of this settlement offer or this offer will be withdrawn and I will request full validation of this alleged debt, as provided for by the Fair Debt Collection Practices Act via my attorney.

 

Please address all correspondence regarding this account to:

 

Can I put something in there about the OC not reporting either?


I, also, have an issue with this PFD. I agree with Shogun on all points; I would like to add:

 

I understand what you need, or are looking to accomplish, but what I feel most of the templates online are lacking is the understanding the PFD is essentially a GW -- by coming off demanding, it doesn't really harbor the feeling of good will.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Established Contributor
Posts: 534
Registered: ‎01-23-2013
0

Re: Critique pls.

I agree...no templates. rather get the 'jist' of what the template was saying, and tweat it for every attempt. At the end of the day, remember you are asking them to do you a FAVOR. Get pushy and the letter will likely end up in file 22....

 

Heres something I threw together for you to get an idea. Im still on my first pot of coffee, so theres probably plenty of revisions that could be done. Keep it short and to the point...people are busy and just want to get the day done and go home.

 

 

<CONSUMER CONTACT INFO>

January 31st, 2013

<CREDITOR CONTACT INFO>

RE: <Account Info>

 

- This is NOT a dispute -

 

Dear Sir or Madam,

 

Please be advised, this is NOT a dispute in any way, shape, or form. It is intended, rather, as an offer made in good faith. The purpose of this correspondence is to ask you to consider a simple exchange, so that both of our goals may be met, and the issue may be considered resolved.

 

This letter is in response to your credit entry on or about x/x/xx related to the debt listed above. I wish to save us both some time by settling this debt. Please be aware that this is not an acknowledgment or acceptance of the debt, nor is this a promise to pay and is not a payment agreement unless you provide a response as detailed below.

 

I am willing to pay <PIF Amt> in exchange for your agreement to remove all information regarding this debt from the (3) credit reporting agencies <DON’T INCLUDE “BY X NUMBER OF DAYS” AS MOST DO…TOO PUSHY>. If you agree, I will send certified payment in the amount of <$X> payable to <CA> in exchange to have all information related to this debt removed from all of my credit files. <I know this is redundant, but its made perfectly clear to PFD>

 

If you accept this offer, please prepare a letter on your company letterhead indicating your agreement. This letter should be signed by an authorized agent of <CA>. I will treat the letter as a contract, as I know that the professionals within your organization will also.  <If they don’t respond, try another letter without this paragraph, as some would be hesitant about the whole “PFD Contract” idea>

                                                                                                            Sincerely,

 

                                                                                                            <NAME>

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Critique pls.

Ok, I'll tweak it more like a Ge and repost later. Funny thing is, this is a template from this site, although an old one. It sounded too demanding to me so I wanted to post to see if I was the only one who thought I should change it more.
-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Epic Contributor
Posts: 22,397
Registered: ‎01-17-2008
0

Re: Critique pls.


jordanmedical wrote:
Ok, I'll tweak it more like a Ge and repost later. Funny thing is, this is a template from this site, although an old one. It sounded too demanding to me so I wanted to post to see if I was the only one who thought I should change it more.

Yes, it has been around the site for many years, same with the page long DV letter.  What has been learned through the years is short, sweet and to the point works better.  There is no indication of threats being made, no restricitons on time lines, etc. 

 

If you want a favor done you should be nice about it. 

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Critique pls.

Collection company called, said they report in May but after I recieve my documentation he will call back to discuss payments to prevent reportinmg. I will ask for this is writing of course. Now I have to worry about the school pulling a fast one and reporting.

 

Whi is it that some collection companies wait 3 months to report while some report immediately?

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Critique pls.

To the CA:

 

Dear Sir or Madam,

Please be advised, this is NOT a dispute in any way, shape, or form. It is intended, rather, as an offer made in good faith. The purpose of this correspondence is to ask you to consider a simple exchange, so that both of our goals may be met, and the issue may be considered resolved.

This letter is in response to a recent dunning notice I recieved from your collection agency. I wish to save us both some time by settling this debt. Please be aware that this is not an acknowledgment or acceptance of the debt, nor is this a promise to pay and is not a payment agreement unless you provide a response as detailed below.

I am willing to pay 360.00 in exchange for your agreement to not report any information regarding this debt to the (3) credit reporting agencies and to close this account as satisfied/Paid in full. If you agree, I will send certified payment in the amount of 360.00 payable to General Revenue Corporation in exchange not to have any information related to this debt reported to any of the credit reporting agencies.

If you accept this offer, please prepare a letter on your company letterhead indicating your agreement. This letter should be signed by an authorized agent of General Revenue Corp. I will treat the letter as a contract, as I know that the professionals within your organization will do so also.

 

To the OC:

 

Dear Sir or Madam,

 

Please be advised, this is NOT a dispute in any way, shape, or form.

 

I was able to speak with one of your UCF collection agents on 02/19/2013 and she assured me that since this has been referred to a collection agency, the collection agency would be the only ones who would be reporting the debt on behalf of UCF. Due to this, I want to make sure that any arrangements I make with the collection agency regarding payments and reporting, will also be an agreement made with UCF. I’m hoping to get this quickly resolved to all our benefit. If you agree that the information I received is accurate, please reply with the affirmative in writing.

 

Thank you for your time,

 

 

Let me know what you guys think of the revisions

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Highlighted
Established Contributor
Posts: 1,011
Registered: ‎04-08-2012
0

Re: Critique pls.

BUMP

 

-Rebuilding with CapOne Cash: $1.5k, NFCU cashRewards $8.5K, NavCheck $5K, Wal-Mart: $1.1K, Sam's: $1.2K, Amazon: $1.9K, Apple Barclay: $3K, Haverty's: $1.5K, GE capital: $5K, Sears: $250(AU), PP MC:$1.5K, CareCredit:$3K (closed 1st home 05/08/13)
Starting Score: 492-TU04, 480-EX FICO V2, 467-EQ Beacon 5 (Via Mortgage PreQual March '12)
Current Score: EX,EQ,TU (lender pull): 652, 659, 689, Walmart TU FICO: 691 (05/13)
Goal Score: 700

Take the FICO Fitness Challenge

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.