PFD letter test

[dougnukem]

I tweaked a letter from a couple examples and was curious if this looks sufficient for a CA that has a four year old medical debt.  There are two, but they are basically the same with just the amount and the company being different.  

Collection Professionals, Inc.
723 First Street
LaSalle, IL 61301

Re: Collection Account for Original Creditor Account #: xxxxxxxx

Amount: $199.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is not disputed. I am not sure of the account number, as I have never heard from you recently regarding this account. The account number I have is the one listed on my TransUnion credit report – which omits the last few digits.

In the spirit of compromise, I am willing to pay this account IN FULL (or settlement percentage) if you agree to 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. During the tenure of the original debt, I was unemployed for just over three years and was barely able to make ends meet for my family.  I am now looking to make amends with this prior debt, and move on in my life. 

If you agree to the terms and accept this agreement, certified funds for the settlement amount of one hundred ninety-nine dollars ($199.00) will be sent to Collection Professionals, Inc. in exchange for full deletion of ALL references regarding this account from my credit files and full satisfaction of the debt. As certified funds will be used for payment, there shall be no waiting period regarding the deletion of this account from the credit reporting agencies.

Collection Professionals, Inc. agrees to delete ALL information regarding this account from the credit reporting agencies 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 Professionals, Inc. 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 Collection Professionals, Inc. 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:

Me

My address

[guiness56]

Personally, I would leave out the last 2 paragraphs.  You really can't tell them who they can and cannot talk to.

In the 3rd paragraph the last sentence needs to be removed.  It can take up to 60 days for an account to be removed.

A PFD is a type of GW.  Too much tough stuff and they will ignore you.

[RobertEG]

"This letter is to inform you that the validity of this debt is not disputed."

I would change to "This is not a dispute of accuracy of credit reporting, and is not an admission of validity of the debt.  It is an attempt to resolve remaining issues concerning your collection on the asserted debt."  You dont want to include an express admission of the debt.  You want to avoid misinterpretation as a dispute.

I would delete the paragraph pertaining to their required limitations on discussion of the account.  Legitimate need could arise for discussions, such as an accounting of the debt with their shareholders or the IRS.  It could be an uneccesary obstacle in their legal department that might in and of itself kill any agreement.  What is your specific concern?

I would also delete requirement that they send acknowledgement on letterhead signed by a corporate official.  Deletion based on payment is contrary to their credit reporting agreement with the CRAs, and they may balk at signed statement to that effect.  You could soften as a request if you really dont trust them, but I would not make it an unconditional requirement.

[dougnukem]

Thanks for the great feedback, guiness and Robert.  I took on old letter I saw on this site and tried to lighten it up a bit, as it had some pretty stringent requests.  I wondered about the stuff I left on, and your feedback goes along with what I was curious about.

I'll make the appropriate and suggested changes.  Now to search out some legitimate receiving addresses, emails, or fax numbers.