Tired of fighting the CBs... offering a settlement to a CA. Please advise....

[RobertEG]

Once the debt collector accepts any amount as discharge of the debt, that automatically terminates further collection on their part, and requires notification back to the creditor/owner of the new status of paid.  It is not necessary to include such agreement in your negotiation letter.

If you are seeking a settlement, you want clear statement by the debt collector that your payment consitutes legal discharge of all debt.

[Goodcreditsesame]

Ahhhhhh. So I’ll pretty much shorten the letter to say ‘ I am not saying I owe this, but I’d like to settle it as long as you
Mark it PAID IN FULL and my payment legally discharged me of all debt”....?


Ofcourse I’d word it differently.

Thank you SO MUCH.

[Goodcreditsesame]

Lastly,

Is 20% sufficient