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Please look over, proof-read, advise RE: settlement letter
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Posted by HDAlex
(4.63.17.38) on August 25, 2002 at 22:32:16:
I was hoping some of you could critique my settlement letter I plan to send to American Express tomorrow. Here it is:
Dear Sir or Madam:
I am writing to you concerning my balances due to American Express. Approximately one week ago, I received a written solicitation in the form of a pre-printed form letter from American Express seeking to offer a deal to repay an account you say I owe. It is my hope that you will find the terms of my counteroffer acceptable. In September of 2000, my largest client filed for bankruptcy and informed me that the remainder of my contract could not and would not be paid. As a self employed consultant, thus began my own personal financial downfall. As you have undoubtedly discovered from looking at my credit report – my financial situation is perilous – charge-offs, collections, repossession, and numerous late payments. I am trying to avoid bankruptcy myself by negotiating new terms with my creditors in hopes of rebuilding my personal finances to the standard they were prior to September of 2000. To that end, and in the spirit of compromise, I would like to offer the following settlement which I believe to be to both our benefit. Please note that this is not a promise or refusal to pay, but an offer of settlement in which I admit nothing:
I would agree that the debts are mine, and commit to paying the full amount of $XXXX. Being self employed, I can only commit initially to a minimum monthly payment of $XXXX, but as my situation and the economy improves, I would be able to provide larger sums. In turn, American Express would assist me by deleting the charge off and past due notations from my accounts listed with all three major credit reporting agencies. Alternatively, I would also accept removing the entire account history from these same credit reporting agencies. American Express would also agree to refrain from reposting negative credit information as long as I made payments as agreed in this settlement.
As a self employed businessman, my personal credit history is vital, and in many respects has direct influence on how fast I can grow my current client base. In the end, I believe that your assistance in this matter will prove to hasten the recovery of the monies you say I owe.
I enjoyed immensely the convenience, prestige and privileges of being an American Express cardholder, and would like to take the above mentioned steps as part of moving forward and returning to the American Express family one day. If these terms are acceptable, please contact me via above and we can create a mutually binding agreement which details our understanding. I appreciate you taking the time to read this offer, and I hope that we can reach an accord to everybody’s benefit.
Sincerely yours,
My name (signature withheld)
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