Help with settlement PFD

[Shellie]

I want to try my hand at a PFD but I would like to start with a low settlement %.  This is the 2nd collection agency that this debt has been with.  The original debt was $396.  I made some payments to the OC AFTER it had been sent to collections the first time.  I believe the CA's are only hired and do not own the debt. The current balance is $271.  I would like to start at 20%. I believe there is still one year left before this one is out of the SOL.  I really can't afford to pay the full balance right now.  I know they will have the option to sue.  Any suggestions? They call every day now.  I asked today if they would delete when I paid but they said no, only update.    This is a newly reported collection.  The first CA reported a couple years ago and this one reported in Nov.  Prior to Nov I had no new collections.  Thanks a lot.

[Shellie]

This is what I'm wanting to send. Please feel free to make suggestions.  Thanks.

To Whom It May Concern:

In the spirit of compromise, I am willing offer a 20% settlement 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 fifty-five ($55.00) will be sent to Online Collections 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.

If you agree to the above terms, please respond accordingly to the settlement offer.  It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Please address all correspondence regarding this account to:

[Anonymous]

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@Shellie wrote:

This is what I'm wanting to send. Please feel free to make suggestions.  Thanks.

To Whom It May Concern:

In the spirit of compromise, I am willing offer a 20% settlement 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 fifty-five ($55.00) will be sent to Online Collections 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.

If you agree to the above terms, please respond accordingly to the settlement offer.  It will be implied that this letter shall constitute a legally binding contract, enforceable under the laws of my state.

Please address all correspondence regarding this account to:

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I don't like how that sentence reads.  It can be taken a few different ways.

If you mean because you are using certified funds, there is no waiting for it to clear.  Or it should be deleted immediately from your CR.

[titanofold]

This PFD format has fallen out of favor for a more GW-style PFD.

Though people still have sucess with the format you've used, I've recently had success admitting that it was our fault for not handling the debt properly and am willing to PFD.

[Shellie]

Did you PIF or make an offer?  I'm sure PIF is optimal but it's just not an option right now.

[titanofold]

YMMV.

I offered partial, but didn't get a response until I offered PIF.

You can try with a smaller amount, and increasingly offer more as you can afford more.

[Shellie]

I think  I'll send the one I already have prepared and try a GW style letter next with a higher offer and play that game until tax time and then offer PIF.