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Review: PFD Payment Plan

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xaiduz114
Regular Contributor

Review: PFD Payment Plan

Below is a (long) letter in response to another that I received from the CA. They sent a letter trying to "re-confirm" a payment commitment that I never made, so I responded with a letter of my own stating no such agreement was made and that I will send a letter shortly with a proposed "payment negotiation, or plan". This is the letter that I will be sending out by the end of the week, and I would really love some feedback on it, since I don't want to dig myself a nasty hole. THanks in Advance for taking the time to read all of this and respond with any advice or changes you think I should make, or if there is a better route. I CANNOT pay this in full, I only get about $100 a month, sometimes less, sometimes more.

 

CMRE Financial Services
3075 E Imperial HWY Ste. 200
Brea, CA 92821

Account #: ********
Amount: $385

To **** ****:

This letter is following a letter that I sent to you on 05/20/2014, and is also to inform you that I only knew of this account based on it being reported in my credit report(s). As we both know, I have the right to dispute this account, request for verification, and/or request for validation of this debt. However, in order to quickly resolve this account, I am willing to pay $50 by the last day of each month via certified funds, beginning during the month of June 2014, if you agree to delete this account from any and all credit reporting agencies. Please do not quote to me that you are unable to do this, I am aware of both your rights as well as my own. We both know you are the source reporting this account and have the absolute right to report it, not report it, or delete it from all reporting agencies. The purpose of this settlement is merely to have this item removed from all reporting agencies. We are both aware that paying this debt is no benefit to me unless we can agree on the terms. I am sure you are aware that paying a collection account does not bode well on a credit report and that merely having a collection on a credit report will have a negative impact whether paid or unpaid.

Please Note: Let me be clear, this is NOT: a promise to pay, a renewal, an admittance to this debt, or in any way me agreeing this debt is mine. This is a restricted offer only.

If you agree to the terms and accept this agreement via written correspondence by 06/05/2014, I will send you certified funds via Western Union Quick Collect (provided that you agree to this payment commitment I propose, by the written correspondence specified below, and provide a correct payee name in which to pay online through Western Union Quick Collect to avoid any returned funds or missed payments that would arise from an incorrect payee name) in the amount of $50 by the last day of each calendar month, beginning during the month of June 2014 (the first payment to be received by 06/30/2014 upon receiving a written agreement to this proposed payment commitment by 06/05/2014). Upon receiving this signed agreement, I will send the first payment and will continue sending one payment in the amount of $50 each calendar month until the amount is paid off completely, in the total amount of $385, which is the amount you stated as the total. That is all that I can afford, and I have attached a payment plan in a table below for your convenience. The funds will be sent only if in exchange for it, you are agreeing to the terms set forth in this agreement and will be deleting this account from all reporting agencies upon receiving the first payment this payment plan has set forth. This debt will be considered satisfied and paid in full, there will be nothing more owed beyond the total of $385 (to be paid in full by the last day of January 2015), nothing more to collect, and you will consider this a closed, satisfied, and paid in full account. Again, ALL references regarding this account must be deleted from ALL reporting agencies. Since certified funds will be used for payment, ALL information about this account WILL be removed from all reporting agencies within 15 calendar days of receiving the first payment.

CMRE Financial Services agrees to delete ALL information regarding this account from ALL credit reporting agencies WITHIN FIFTEEN (15) CALENDAR DAYS of the first payment received, following receipt of said payment as specified above and will not discuss the terms of this settlement with anyone, for any reason, excluding your client on this account. If contacted by any third party, including credit reporting agencies, CMRE Financial Services will not acknowledge that any settlement offer was made, accepted, offered, or executed and will deny knowledge of any such account.

If you agree to the above terms, please sign (by an authorized representative of CMRE Financial Services) this agreement below, print (clearly) the name of that signature, provide the position held by the one signing this agreement, and provide the full payee name for payments through Western Union Quick Collect. It will be implied that this letter shall constitute a legally binding contract, enforceable under federal, state, and local laws. Please also include with this signed agreement a company letterhead stating you received and agree to this restricted offer and the terms set forth within it.

Your response must be postmarked no later than 15 Days from your receipt of this settlement/agreement offer OR this offer will be withdrawn and I will request full validation of this alleged debt, as allowed by the Fair Debt Collection Practices Act. If you decide to decline this offer, and begin calling about this alledged debt, expect the next letter from me to be a Cease and Desist letter, attached with it, a request for Full Validation. Thank you for your time, and I sincerely hope to hear from you soon.

______________________________
Signature

______________________________
Print Name of the above signature

______________________________
Title or Position held

______________________________
Date


______________________________
Western Union Quick Collect Payee Name

 



Please send this agreement, your company letterhead agreement and all other correspondence regarding this account to:

My Name

My Address



Proposed payment commitment plan:

PAyment Plan img
 

Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014
Current Score: EQ 475 | EX 582 | TU 589
Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey!
Collections (MED): DCS Financial (4) | Columbia Collectors (1) |
Dynamic Collectors, Inc (2) | Professional Credit Services (2) |
CMRE Financial Services (1) | Total: 10
Charge-offs: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 1 of 5
4 REPLIES 4
xaiduz114
Regular Contributor

Re: Review: PFD Payment Plan

Since This has been up nearly 24 hours and no one has replied, I'm going to assume it's a good letter, and I'm gonna go ahead and print it and send it out tomorrow. I'll update when I get a response. Hopefully a good response. Smiley Tongue

Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014
Current Score: EQ 475 | EX 582 | TU 589
Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey!
Collections (MED): DCS Financial (4) | Columbia Collectors (1) |
Dynamic Collectors, Inc (2) | Professional Credit Services (2) |
CMRE Financial Services (1) | Total: 10
Charge-offs: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 2 of 5
gdale6
Moderator Emeritus

Re: Review: PFD Payment Plan


@xaiduz114 wrote:

Below is a (long) letter in response to another that I received from the CA. They sent a letter trying to "re-confirm" a payment commitment that I never made, so I responded with a letter of my own stating no such agreement was made and that I will send a letter shortly with a proposed "payment negotiation, or plan". This is the letter that I will be sending out by the end of the week, and I would really love some feedback on it, since I don't want to dig myself a nasty hole. THanks in Advance for taking the time to read all of this and respond with any advice or changes you think I should make, or if there is a better route. I CANNOT pay this in full, I only get about $100 a month, sometimes less, sometimes more.

 

CMRE Financial Services
3075 E Imperial HWY Ste. 200
Brea, CA 92821

Account #: ********
Amount: $385

To **** ****:

This letter is following a letter that I sent to you on 05/20/2014, and is also to inform you that I only knew of this account based on it being reported in my credit report(s). As we both know, I have the right to dispute this account, request for verification, and/or request for validation of this debt. However, in order to quickly resolve this account, I am willing to pay $50 by the last day of each month via certified funds, beginning during the month of June 2014, if you agree to delete this account from any and all credit reporting agencies. Please do not quote to me that you are unable to do this, I am aware of both your rights as well as my own. We both know you are the source reporting this account and have the absolute right to report it, not report it, or delete it from all reporting agencies. The purpose of this settlement is merely to have this item removed from all reporting agencies. We are both aware that paying this debt is no benefit to me unless we can agree on the terms. I am sure you are aware that paying a collection account does not bode well on a credit report and that merely having a collection on a credit report will have a negative impact whether paid or unpaid.

Please Note: Let me be clear, this is NOT: a promise to pay, a renewal, an admittance to this debt, or in any way me agreeing this debt is mine. This is a restricted offer only.

If you agree to the terms and accept this agreement via written correspondence by 06/05/2014, I will send you certified funds via Western Union Quick Collect (provided that you agree to this payment commitment I propose, by the written correspondence specified below, and provide a correct payee name in which to pay online through Western Union Quick Collect to avoid any returned funds or missed payments that would arise from an incorrect payee name) in the amount of $50 by the last day of each calendar month, beginning during the month of June 2014 (the first payment to be received by 06/30/2014 upon receiving a written agreement to this proposed payment commitment by 06/05/2014). Upon receiving this signed agreement, I will send the first payment and will continue sending one payment in the amount of $50 each calendar month until the amount is paid off completely, in the total amount of $385, which is the amount you stated as the total. That is all that I can afford, and I have attached a payment plan in a table below for your convenience. The funds will be sent only if in exchange for it, you are agreeing to the terms set forth in this agreement and will be deleting this account from all reporting agencies upon receiving the first payment this payment plan has set forth. This debt will be considered satisfied and paid in full, there will be nothing more owed beyond the total of $385 (to be paid in full by the last day of January 2015), nothing more to collect, and you will consider this a closed, satisfied, and paid in full account. Again, ALL references regarding this account must be deleted from ALL reporting agencies upon my making the last payment. Since certified funds will be used for payment, ALL information about this account WILL be removed from all reporting agencies within 15 calendar days of receiving the first payment----(Gone)

CMRE Financial Services agrees to delete ALL information regarding this account from ALL credit reporting agencies WITHIN THIRTY (30) CALENDAR DAYS of the last payment being received. I also specify that CMRE  will not discuss the terms of this settlement with anyone, for any reason, excluding your client on this account. If contacted by any third party, including credit reporting agencies, CMRE Financial Services will not acknowledge that any settlement offer was made, accepted, offered, or executed and will deny knowledge of any such account.

If you agree to the above terms, please sign (by an authorized representative of CMRE Financial Services) this agreement below, print (clearly) the name of that signature, provide the position held by the one signing this agreement, and provide the full payee name for payments through Western Union Quick Collect. It will be implied that this letter shall constitute a legally binding contract, enforceable under federal, state, and local laws. Please also include with this signed agreement a company letterhead stating you received and agree to this restricted offer and the terms set forth within it.

Your response must be postmarked no later than 15 Days from your receipt of this settlement/agreement offer OR this offer will be withdrawn and I will request full validation of this alleged debt, as allowed by the Fair Debt Collection Practices Act. If you decide to decline this offer, and begin calling about this alledged debt, expect the next letter from me to be a Cease and Desist letter, attached with it, a request for Full Validation. Thank you for your time, and I sincerely hope to hear from you soon.

______________________________
Signature

______________________________
Print Name of the above signature

______________________________
Title or Position held

______________________________
Date


______________________________
Western Union Quick Collect Payee Name

 



Please send this agreement, your company letterhead agreement and all other correspondence regarding this account to:

My Name

My Address



Proposed payment commitment plan:

PAyment Plan img
 


Changes as outlined, they are not going to delete until you finish paying it off to demand it be done sooner is futile. Do not sign your offer just type your name.... I would also advise caution if this is inside states SOL.  Good luck Smiley Happy

Message 3 of 5
xaiduz114
Regular Contributor

Re: Review: PFD Payment Plan

It is, DOD is 09/02/2010, and the SOL for Washington state on this is 6 years. But since I already made the mistake of contacting them to get the account info and age of the debt, and received a letter to "re-confirm" a payment commitment to pay in full by the end of this month, I had to send a letter stating that I DID NOT make a payment commitment or any such agreement, and I told them I'd be sendign a payment plan shortly. It was the best way I could think of taking care of them without being sued for the full amount. I only make about $100 a month and can't pay it in full. Smiley Sad

Thank you for advising these changes. Smiley Happy I really appreciate it!
Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014
Current Score: EQ 475 | EX 582 | TU 589
Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey!
Collections (MED): DCS Financial (4) | Columbia Collectors (1) |
Dynamic Collectors, Inc (2) | Professional Credit Services (2) |
CMRE Financial Services (1) | Total: 10
Charge-offs: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 4 of 5
xaiduz114
Regular Contributor

Re: Review: PFD Payment Plan

Also, should I delete the blue and change the black? Were those the suggestions?

Starting Score: EQ 478 | EX N/A | TU 540 - 5/2014
Current Score: EQ 475 | EX 582 | TU 589
Goal Score: 700 by 5/2015 - My Credit Rebuilding Journey!
Collections (MED): DCS Financial (4) | Columbia Collectors (1) |
Dynamic Collectors, Inc (2) | Professional Credit Services (2) |
CMRE Financial Services (1) | Total: 10
Charge-offs: IQCU (1)
Cards I'm aiming to get:
Unitus Community CU SecuredBofA Secured
Message 5 of 5
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