PFD Letter Review (Yes, another one! Thanks!)

[sh9730]

OK, quick history...almost got every baddie off my CR and the one left (plus this one we are about to discuss!) This is a small collection that is 6.75 yrs old and scheduled to drop off in July 08. Anyway, before I was as learned as I am now on these matters, I sent a PFD request for a reduced amount to the CA that was assigned (but did not own) this account.  Total original charge was $160.00 and the CA was showing $261.00.  The CA never responded.  In the interim I read the WhyChat stuff on medical collections and contacted the OC (not a hospital) and requested a PFD from them.  I called on phone since at worst case I was gonna pay this in full and it would still only be on my CR for a couple months. 

SO, they accepted the PFD for the original amount owed and I finally got the letter from the OC today.  Im most likely gonna trust it, especially since again, the potential damage even if they dont follow through is minimal, but I would appreciate any reviews to make sure Im not missing any gotchas.  Its not perfect, but....

Original Creditor

123 Main St

Re: Account #xxx

Balance - $261.00

Dear Sh9730,

This letter is in response to your dispute on the above referenced account number and the balance of $261.00 with XXXX Collection Agency.

I appreciate your call and as discussed, we have agreed to accept as payment in full, the principal amount of $160.00, in which your account was assigned for and to XXX Collection Agency.

As part of this agreement, we are requesting that the payment be made in the form of either a money order or cashiers check, as no personal checks will be accepted. (Actually it was ME who said I will be paying only with Money Order or cashiers check but whatever!) 

Once payment has been received, XXX Collection Agency will be notified and requested to remove your account from your credit report based on your dispute. Please be aware that once the collection agency has instructed the credit bureaus to remove your account, the collection agency has no control over the length of time it takes for this process to be completed by the credit bureaus.

Please send your payment to:

123 Main St

etc

Sincerely,

OC Account Rep

SO, I know it isnt ideal, but think they ll delete?  The OC has been pretty cooperative actually since I contacted them....

Thanks

[sh9730]

A single busy night bump on this...otherwise Im going to send money tomorrow!  Thanks.

[tryingtogetitrightnow]

Looks good to me. I'd go for it.

[shawnette]

Worst case scenario, you pay them and it drops off in July, as scheduled.  Once you pay the OC, the CA can't report it.  I paid the OC on a couple of old medical debts (3yr & 5yrs) and then disputed the collection on my reports.  Since the debt was no longer outstanding (the CA didn't "own" the debt), they had to delete.