Please critique my PFD letter before I send out...

[JenThompson777]

Dear Everyone,

Here is my current situation:  I DV'd this company and they verified my debt.  I can't deny it and it's definitely mine.  Okay, now that part is clear, I want to PFD.  I have been thinking about this for a bit, and now they have sent me a NEW letter that says they are considering court action. BLEH! So.. I have come up with a new PFD letter that I'd like to send out, but not sure if it will work - or if they will just say "ummm no, here's your court date".

Please let me know what you think.  Example letter below... THANK YOU ALL FOR YOUR COMMENTS!!

Dear Credit Dispute Dept.:

This letter is in response to your letter to me dated ___________ stating that court action is being considered regarding the account under my name, ____________, in the amount of $________.  After considerable investigation with your company and the credit bureaus, I do claim this as my debt and now would like to arrange settlement of the full amount.

During our arrangement for settlement process, I ask that you please hold off on moving forward with court action against me for this debt, as I fully intend to pay the amount of $_________.  Now that I am in a current position to pay this debt, please allow me to pay in full with your agreement that you will delete this account from any and all credit bureaus to which this account has been reported.  If you do agree to these terms, the full amount will be paid to you by certified funds in TEN (10) days after receipt of your signed agreement.  Please provide a response to this agreement on your company letterhead, with details of the agreement, a copy of this letter, and a signature by an authorized member of your company on your letterhead copy and on the copy of this letter as well.

If this settlement and deletion of account information is agreed to, you also agree to not communicate regarding my account to any other 3rd party collection agency or the original creditor, or any of the credit bureaus.

This is an attempt to pay you what is clearly due and to clear my name of this debt once fully satisfied.

I completely understand my rights under the FCRA guidelines and understand that your company is not obligated to agree to such arrangements.  However, I also understand that this agreement is legally acceptable and is only subject to your company’s decision on whether to accept it or not.  I would be grateful to your agency if you would accept these terms and I will promptly settle this file once and for all, for both of us.

Thank you for your consideration,

(Name Typed, Not Signed)

Acct #: ____________

 

[Anonymous]

I would strongly advise you remove the last sentence in paragraph 1 "After considerable investigation with your company and the credit bureaus, I do claim this as my debt and now would like to arrange settlement of the full amount" and remove the sentence before the last paragraph "This is an attempt to pay you what is clearly due and to clear my name of this debt once fully satisfied."  I would remove these two because you NEVER want to acknowledge the debt. If you send this letter you have acknowledged this debt as yours in writing and if they dont want to agree for the pay for delete and they show this letter in court the judge will immediately rule in their favor. These two sentences do nothing but give them ammunition against you and are not needed in the letter.

Now I would personally recommend removing the last paragraph also because you are telling them basically I would like for you to do this but understand if you cant. Again you are opening the door for a big fat no.

Remove those two sentences and the last paragraph and I think you will be fine.

Who is the collection agency maybe some of us have experience with them and can give you further insight to their practices.

Message Edited by okstatefan5945 on 01-16-2010 03:59 PM

[JenThompson777]

Thank you for your response and advice! I appreciate it.  I am dealing with Payment America Systems (PAS) our of Nashville, TN. 

You're right about taking out what's not needed in the letter.  I re-read that and totally agree.  My thinking at the time of writing the letter was... well, I DV'd the debt and they definitely are able to prove the account exists in my name.  I didn't want to use the language I see in most PFDs (This is not to acknowledge this is my debt, blah blah blah), but yeah... I can see where it's no good to just come out and say it's mine.

Also - have you or anyone else had success in going the PFD route after the CA send a letter threatening court action?

Thanks!!!!  These forums have been awesome.  I've raised my scores between 15 to 25 points in the last couple of months using GW letters. THANKS!!!

[Anonymous]

I have had good luck with pay for deletes but have never had a CA threaten court and have not dealt with that CA. I just know its best to say as little as possible and never admit or acknowledge that the debt is yours even if it is because it takes away ALL leverage you may have.

[RobertEG]

IMHO, I recommend that you delete any and all admission that you acknowledge the debt as yours. 

That is a slam-dunk legal admission against interest that will be a no-brainer basis for your instant loss in any legal action.  It will only foster any incentive they have to pursue legal action.  Maybe including court costs and legal fees.  You dont want that.  

Simply offer them payment in full in exchange for prior written agreement to delete  upon receipt of payment, and say no more. 

Dont tell them that you know they have the legal right to refuse  your offer.  That just puts in writing the fact that, if they do agree to delete, they are violating, not the law, but their credit reproting agreements with the CRAs.  Leave all of that out.

[JenThompson777]

Thanks again for all the advice.  I'll take all of that stuff out and send.  We'll see how it goes!!

[JenThompson777]

Ok, I've sent out a nice, cleaned-up version of my PFD to this CA and am waiting for a response.  I sent it out yesterday certified mail and gave them 10 days to respond on whether they accept the agreement or not.  I only fear that they will now come back and say, pay or go to court.  But really, even if they do that my option is to pay and shut up   haha. 

Well, I'll wait for a response and if it's not what I am going after, I might ask them to at least agree to marking my account as "paid in full" on all 3 credit reports.