"Settle or Validate" Sample Letter
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Posted by jeje
(12.228.113.159) on July 03, 2002 at 22:45:13:
Someone else who has more experience with this sort of thing could probably come up with better wording, but this letter has worked well for me on small, old accounts. "Small, old" meaning 4+ years and less than $1000. All the accounts were mine, but I guess they didn't want to take the chance on a paperwork problem. Of course, the dollar amount you use should make sense for the specific debt you'd be using it for. Good luck,
jeje
123 Main Street
Anytown, AZ 00000
January 1, 1901
Collection Agency
Address
Re: Account Number, Original Creditor To whom it may concern: After reviewing a recent copy of my credit report, I noticed a suspicious entry by Collection Agency including the account information listed above. I've contacted Original Creditor, the original creditor, directly. Original Creditor was unable to locate any evidence of an account in my name. Even so, when I disputed this item with Equifax, Collection Agency returned the item as a valid debt. Neither I, nor Original Creditor have any record of this account. However, to avoid the wasted time and effort of the validation process, I am willing to permanently settle the matter for the sum of $117.25 in exchange for Collection Agency's complete and permanent removal of any negative information in my credit history regarding this matter. If Collection Agency would like to settle this matter, please have an authorized member of your staff sign, date and promptly return a copy of this letter to the address shown above. Once I've received your acceptance of this offer, I will remit payment of $117.25 immediately. If Collection Agency is unwilling to settle this matter, please take immediate steps to validate this debt by providing written proof of a contractual obligation between me and Original Creditor, as well as all other required information associated with a demand for validation, within the appropriate time constraints, as specified by the Fair Debt Collections Practices Act. If Collection Agency can not validate this debt, please immediately remove all negative information added to my credit history concerning this account and cease all further attempts to collect this debt. All further communication regarding this matter or any other matter should conducted solely by mail and only at the address shown above. Thank you in advance for your prompt handling of this matter. Sincerely,
My Name
Acceptance of Settlement Offer
As indicated by our authorized staff member's signature below, Collection Agency will immediately and permanently remove all negative information added to My Name's credit history concerning account number Account Number upon receipt of $117.25 as payment in full and also agree that the matter is permanently settled and that My Name has no further obligation on the account.
______________________________________________
Print or Type Name _______________________________________________
Authorized Signature _____________________
Date
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