PFD Example Letter

[Anonymous]

bump, anyone? Thanks!

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I drafted the following. Any feedback would be highly appreciated

Thanks!

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Dear Sir/Madam,

By cashing the check which I mailed you on zzz, you agreed to the legally binding terms and conditions of endorsement which were clearly printed on the back of the check. The said endorsement was also provided in a memo enclosed with the check. I have attached a copy of the cashed check as well as the endorsement for your review.

It was clearly stipulated that by depositing the check “It is agreed that all credit bureau reporting for Account Number zzzwill be deleted by zzz within 14 days of deposit.”

zzz cashed the endorsed check on zzz. (See attachment)

I obtained my Experian credit report yesterday and I see that you have updated the status to “Paid” in blatant violation of our contract.

Remove ALL credit report entries referring to this account within the next 10 days or I will sue for breach of contract. Furthermore, let me point out that I will be involved in several monetary transactions within the next month upon which your failure to comply with said contract (deletion of negative records on all my credit reports) could have a detrimental effect. Let me assure you that I will seek compensation for any losses I will have to endure due to your unfulfilled obligation.

Message Edited by quadratic on 07-29-2009 09:03 PM

[Anonymous]

Good luck..restricted endorsment rarely works from what i've read.

[fused]

They commonly work when paying an OC with a med collection.

[Anonymous]

I admittedly haven't read much of anything about medical collections.

[fused]

Other than med collections, I do agree with your opinion.

[Anonymous]

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@Anonymous wrote:

Guess I jumped the gun; just checked my CR and the CA has updated the status to "paid"

Obviously in blatent violation of the accord and satisfaction agreement since they cashed my check.

Anyone have a  draft of a letter I can send the CA to force them to remove the CR records ASAP to avoid litigation?

Thx!

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quadratic,

Before I could provide comment, can you answer some questions?

- Was the debt in dispute?  If so, how so?  How had you disputed or communicated prior to offer of accord?

- How old was the debt

- What state are you in?

- What state is the CA from?

- What state is the OC from? 

- Who is the CA?

- Who was the OC?

- How much was the debt?

- How much did you pay/offer?

- How did you make the check payable?

- How did you mark the memo of the check?

- What did your cover letter state?

- What did you check endorsement state?

- Where did you get the address from that you check to?

- How did the CA endorse the check for deposit?  What, if anything did they put on back?

This may seem like a lot of info, but as my original post said, Accord & Satisfaction sometimes has this initial response from the CA.  This is not much different than doing DV and having them fail to respond or not responding appropriately and then still reporting/updating to your CR.

Accord & Satisfaction has 2 components, federas laws and then state.  It also has criteria which needs to be met, such as a genuine dispute of the debt or amount and conspicuous communication.  It also requires that you not send it to their automated payment center, but to the appropriate or previously communicated person/location.

Message Edited by txjohn on 08-04-2009 06:28 AM

[Anonymous]

- Was the debt in dispute?  If so, how so?  How had you disputed or communicated prior to offer of accord?
Yes.
I asked for DV stating "Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested"
Upon receiving the DV response from the CA, I sent the A&S letter, based off your post, ("In order to amicably resolve the disputes related to account xxx, this letter and the enclosed conditionally endorsed check are an offer of accord and satisfaction for settlement in full of Account No. xxx." )  along with the restrictively endorsed check.

- How old was the debt
About 4years

- What state are you in? What state is the CA from? What state is the OC from?
All MA

- Who is the CA?
Collection Co of America

- Who was the OC?
Verizon

- How much was the debt?
$59

- How much did you pay/offer?
$59

- How did you make the check payable?
Followed your advice from this post to the letter:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=130&view=by_date_ascending&page=23
i.e. "Upon agreement to the terms of endorsement of this check"

- How did you mark the memo of the check?
"Offer of accord & satisfaction for settlement in full of acc#..."

- What did your cover letter state?
Followed your advice from this post to the letter:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=130&view=by_date_ascending&page=23

- What did you check endorsement state?
Followed your advice from this post to the letter:
http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=130&view=by_date_ascending&page=23

- Where did you get the address from that you check to?
Mailed A&S to the same address I sent the DV request. I got a response from an individual for the DV request, so I assume someone read what I sent this time (A&S) around too.

- How did the CA endorse the check for deposit?  What, if anything did they put on back?
I only see "For deposit only" and the deposit bank info.
Doesn't that mean they legally agreed to the endorsement?



This is the only negative on my CR... and all this effort for $59!!!
The reason I'm very keen on getting this off my CR is because I plan on buying a house within the next few months.
Any help would be highly appreciated!

Message Edited by quadratic on 08-04-2009 11:38 AM

[Anonymous]

Hello

Here is my situation I have 3 Negatives on my CR one is for a Walmart CC that I have paid for less than full balance one for a Target CC with charge off of 5700  and a Citi CC with a charge off of 3000 both the TargetCC and the Citi CC have been in charge off status since January of 2008.

I have called Walmart about removing it from CR and was told that I must wait 7 years before it will be removed.

Would the GW option be my next step and is there anythingelse I can do? 

As far as the Target and Citi the SOL is 3 years in my state. Is a DV and then a PFD my best option right now and is there anythingelse I can do? Also if I recieve a DV should I pay the total owed or offer only 50% as I have seen others do? 

[Anonymous]

Hi txjohn,
Please provide your feedback when you get a chance.
I'm thinking of sending the following letter to the CA ASAP.
Thanks a bunch!

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Dear Sir/Madam,

By cashing the check which I mailed you on zzz, you agreed to the legally binding terms and conditions of endorsement which were clearly printed on the back of the check. The said endorsement was also provided in a memo enclosed with the check. I have attached a copy of the cashed check as well as the endorsement for your review.

It was clearly stipulated that by depositing the check “It is agreed that all credit bureau reporting for Account Number zzzwill be deleted by zzz within 14 days of deposit.”

zzz cashed the endorsed check on zzz. (See attachment)

I obtained my Experian credit report yesterday and I see that you have updated the status to “Paid” in blatant violation of our contract.

Remove ALL credit report entries referring to this account within the next 10 days or I will sue for breach of contract. Furthermore, let me point out that I will be involved in several monetary transactions within the next month upon which your failure to comply with said contract (deletion of negative records on all my credit reports) could have a detrimental effect. Let me assure you that I will seek compensation for any losses I will have to endure due to your unfulfilled obligation.

[Anonymous]

quadradic -

1.  Did the CA ever respond to your DV?  If so, how? 

2.  Cali has a 4 year SOL.  Are you beyond that (since last activity/payment)?

The only gray area of your situation will be the DV letter you wrote, which stated "this is not a refusal to pay" which could be argued that it is not a "dispute" which is step 1.

In my case, when I DV, I generally provide a general dispute as a portion of the DV.  I do this because only a dispute of debt truly ceases collection.  Furthermore, I dispute the debt until they provide proof that they own or were legally assigned the debt.  Whether or not an OC was owed debt does not automatically nor legally transalte into a legal debt owed to the CA.

However, if they did not provide a response to DV, then I think you are fine to proceed.

You can write a letter, such as you suggested, but it is much more effective if it comes from an attorney.  If your funds are limited, I suggest joining Prepaid Legal Services ($17 per month).  Then call in and consult with an attorney (all phone, no travel) and have them write the letter on your behalf.

The CA will route and treat an attorney's letter much differently than you.  Obviously since they cashed your check and ignored the terms they are calling you out, believing you won't know what next to do or won't pursue it.

You can write the letter, but for time and effect, when I have had this issue arise, the attorney was the secret ingredient that got it taken care of.

As you are aware, CA's will lie to you, ignore the rules or just ignore you.  They have your money so there is no longer any motivation on their part to deal with you unless they have to.

Thus, if CA requires bonding, you can file claim against bond.  And you can have an attorney contact them.  This will be more potential problems and paper work than $59 is worth to them.

Message Edited by txjohn on 08-12-2009 06:46 AM