Arrangement with creditor - what kind of letter do I use?

Submitted by Anonymous (not verified) on Tue, 11/16/2010 - 03:17

I SUPPOSEDLY never returned ATT equipement when I moved out. Went to COllection agency. I now purchased a box and will send them that thing. I think I should also send a letter stating something like this :By accepting this device, you agree to cease collection, contact Collection agency and delete all records etc.". My credit score took a huge hit.. 100 points down because of this! What kind of letter could I use and send with the box?


Yes, you'd first need to discuss with them regarding all that you can offer right at this point of time. Make sure you do a careful analysis of your financial strength before you get into any kinda discussion with the CA. You'll need to choose the right kinda payment plan if they're not gonna accept this thing alone. If they come up with a demand that seems unreasonable, make sure you ask them for an explanation.

Tue, 12/07/2010 - 11:21 Permalink

If I pay off and/or make agreements with the collection agencies on my credit report, would that be proof enough for a loan company...a bank or fha to pre approve a loan for a house? My credit scores are 573,514, and 545...the house is only $34,000 and I can afford the mortgage payments, it is just my credit score that is messing me up, and A LOT of inquiries. I can pay off the four deragatory items, as they aren't that high, but will that be enough or will they still wait and stall until thhe credit score itself actually goes up?

Tue, 12/07/2010 - 23:32 Permalink
Jeanette (not verified)

The same account is on my report four times...the original creditor and three different ca's. If I get a pay for delete for the recent ca, does the other ones come off and the original creditor? Its for the same one account.

Wed, 12/15/2010 - 21:51 Permalink
Sally Nachelle (not verified)

You can send a pay for delete settlement request to the collection agency via certified mail with a return receipt request. If they accept your request, then you can settle the debt with the collection agency. After that, if you find it is still reflecting on your credit report, then you can contact with the Credit Bureau. You may send a dispute letter to the Credit Bureau to remove inaccurate information from your credit report with the attachment of relevant document. The following link may help you to write such kind of a letter:

Mon, 06/06/2011 - 11:28 Permalink