Verbage from sticky Sample PFD still accurate??

[treski]

I have read that you should no longer include "dispute" in a PFD if you actually intend to pay in full.  The debt is ours, I want to PFD, I don't want it marked as disputed in my CR, I just want to pay and have it gone.

Are there any other changes you would make to the sticky sample PFD other than removal of "dispute"?

Copied and pasted from this forum's sticky on the topic:

Collection Agency
1212 Maple St
City, State Zip

Re: Collection Account for Original Creditor Account #: 00000xxxx

Amount: $25.00

To Whom It May Concern:

This letter is to inform you that the validity of this debt is disputed. I am not sure of the account number, as I have never heard from you regarding this account. The account number I have is the one listed on my Experian 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. 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, certified funds for the settlement amount of twenty-five dollars ($25.00) will be sent to Collection Agency 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 Agency agrees to delete ALL information regarding this account from the 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 explicity agreeing to the same terms as the above settlement offer and have it signed by an authorized representative of Collection Agency. 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.

Please address all correspondence regarding this account to:

You
123 Any Street
City, State Zip

[Anonymous]

I believe that if you admit to owing, the SOL can be reset.

[llecs]

Right, in some states, admitting to it can reset SOL...that's why the verbage is a bit strong. OP, some OCs or CAs do and have misinterpreted the letter as a dispute. I altered mine to remove the dispute word and replaced it with "in question". I did that on mine just in case the letters were being scanned and "dispute" triggered a flag. My later PFDs were more GW-esque in nature and admitted to everything and also eliminated the timed-requirement. 10 days in unreasonable, IMO, though there are plenty of PFD success stories with it in there.

[Freefall]

Personall, I would not use  the following;

the validity of this debt is disputed

I did that on one letter and the only thing they did was to report to all 3 CRA's that I disputed. It's been a PITA to get that comment removed. Ive learned that the simpler is better...

[treski]

Thanks, I friendlied-it-up a bit, without admitting to to owing anything.  I also removed the word "dispute" completely and the time lines, as well.  I feel good about it...

I signed up for AltertPlus today for both of us, so I will definitely update!  Fingers crossed...

[RobertEG]

If you use the term "dispute," at least do not use it in any introductory parapgraph.

The problem is that consumers can now file direct disputes with either creditors or debt collectors, asserting inaccuracy in their reporting, and thus invoking the set requirements of the direct dispute process.  By introducing your letter as a dispute, you are asking for trouble.  It may get treated as a direct dispute, resulting in a request for information from your supporting the reasons for your disptue, and a dispute flag being reported to your credit file.

Identify the letter up-front as being what it is, a request for their agreement to delete information from your credit file in exchange for payment.

Its OK to state later in your letter that you dispute something, but dont make it a focus.

I would also red-line the whole part about denying any fact of their collection.  They certainly have to account for whatever they receive, and I see no useful purpose in requring them to deny the facts.  It might nix the whole deal with their legal department.