Please Review My Settlement Letter
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Posted by DC
(18.104.22.168) on September 26, 2002 at 23:11:41:
I've been helping my friend take care of all her financial problems. So far we have made excellent progress, and have only one account left to take care of. It has a balance of $8119.12 We are going to try to settle it for half. I did not put the condition that the all negative information be removed from her credit report since her report is pretty much hopeless anyway. I'm afraid they will reject the offer because of it. I want to get it settle quickly so they do not see that all her other accounts have been paid. Please give any advice on this letter as I'd like to send it out ASAP. Thanks for all the help.
This letter is regarding account number XXXX XXXX XXXX XXXX
Below is my offer to settle the balance on this account. It is not a renewed promise to pay
nor does it constitute any agreement unless you sign and return it. Be advised, I have not
agreed that this debt is mine and have the option to seek further proof from Chase of this
debt. This notice should not be construed as authorization or permission to review my
credit history or add any inquiry to my credit reports
I will pay Chase Mastercard the amount of $4,060.00 as payment for the full satisfaction
of this account. Upon receipt of the payment, Chase Mastercard agrees to report this
account as “paid” to the credit reporting agencies. Chase also agrees to issue me a 1099c
for the unpaid portion of the balance.
If you concur with these terms please acknowledge with your signature and return it to
me. You agree the terms herein are confidential and you have the authority to make such
decisions. I will mail the funds within 3 days upon receipt of this signed agreement.
Name of Creditor: _________________________________________
Name of Authorized Company Officer: ___________________________________
Signature of company officer : ____________________________________
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