PFD Example Letter

[ktm214]

Like Electra said, don't be demanding.  You are asking them to do you a favor.  They will be more inclined to do so if you are nice.

[GetItTogether]

Hi Tuscani, 

   Thanks for the great PFD example. After being laid off a couple years ago, I am finally in a position to dive in a try to clean up the credit damage that occurred.  I just purchased my Fico score and my Equifax report.  It shows I have two accounts in collection that are fairly small and that I can now PIF, so I'll send off the PFD letter and hoep for the best. 

    But I'm not sure what to do with a third account. It's an auto loan that had $2000 owing on it when I could no longer make payments.  The OC is the one reporting, but I know it's been sent to collections, because I've received communication from them. However, the CA is not reporting to Equifax, just the OC. So, to whom should l direct the PFD letter? 

     I really want the tradeline from the OC removed.  So, I am wondering the best way to go about getting that removed, along with any potential CA reports to TU and EX. Any suggestions? 

     So I guess my question is essentially, how does one pay the CA and also get OC tadeline removed. 

      New to all of this and would love any advice anyone can offer. Thanks!!

[Anonymous]

Thank you for the letter! I am sending a copy to a local CA asking to get an old check paid and removed from my CR. I'm hopeful! Part of me wishes I'd offered to settle for $10 instead of half. Oh well!

[Wangta]

My only question on this letter - does it really make sense to ask them to put this in writing on their letterhead, execute/sign it, then send it back to you?  

Couldn't you just make THIS letter the agreement and put signature lines on it?  Maybe even sign it, so all they would have to do is counter sign it and return?  

Letterhead doesn't exactly make it more legally binding...right?  

[llecs]

Legally you are right. However I never trust creditors like CAs. I can foresee situations where they lay claim that they never signed it. Having it on a letterhead removes that doubt. I sent quite a few PFDs and always asked for acceptance of that via their letterhead.

[money28]

Thanks for the information, it will be very useful.

[Anonymous]

I'm sorry but im confused. I send this exact letter to a Collection agency and i got this reply from them.

Dear XXXXXXXXXXXXXXXXX

RGM Acquisition llc (''rjm'') is pleased to accept the sum of $138.12 in full satisfaction of the above referenced account.

Please pay by August 23, 2013

When you finish paying, this account will be satisfied in full and, as per specific request, RJM will have our reporting of this account deleted with experian and trans-union.

My question is this. What is my next step and i'm i safe to pay it now.

[themizlyne]

Your next step is to pay the amount in the letter and monitor your credit report. The delete may take up to 90 days to finalize, but if you don't see it fall off then you would need to follow up with the CA.

[Wangta]

Wouldn't he want to get a debt settlement agreement signed?  

[Lasardo]

The letter received can be used as a debt validation agreement.