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Writing a Proposal Letter & Asking to Waive Late Fees??

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I have a past due CC that only had a $125 limit on it. I totally fell behind when I was unemployed earlier this year, and now that I have a stable job I want to pay this off ASAP. While looking at my credit report, it looks like they charged a load of late fees and penalties totalling, bringing my new past due balance to $280.. I want to send them a proposal letter (assuming the CC company still owns the date - they do according to my credit report I pulled on August 28th), throw in a $50 money order, and kindly ask them to remove the late penalties. If they do I could have this paid off next week. Is this a wise idea? Any suggestions? This was my only credit card that I had and I've never had to deal with a charged off account like this before.


It does not hurt to try. Explain to them if they remove the late penalties you can have it paid off next week. The worst that will happen is they say no and you are in no worse situation than before. You could also send them a debt validation letter in which they would have to explain all the charges.

Sub: #1 posted on Fri, 10/19/2007 - 20:37

pybasj pybasj

(Posts: 818 | Credits: 58.52)

Advice on this letter I wrote up?

To Whom It May Concern:
I am writing to resolve a past due balance of $280 on account #xxxxxxxxxxx.

I noticed on my credit report that my last amount past due was $120, but with late fees and penalties added on, the final amount was $280. If these late charges and penalties can be removed, I have no problem paying the actual past due balance of $120 in two increments.

A money order is enclosed for $50, which would bring my past due balance to $70. I am then able to mail a second payment of $50 on November 1st, and a final payment of $20 on November 16th, which would resolve this debt.

Sub: #2 posted on Fri, 10/19/2007 - 23:27

miked0786 miked0786

(Posts: 29 | Credits: 14.34)

SOunds good. If they accept it remember to keep to what you promised. They can get nasty sometimes if you don't.

Sub: #3 posted on Fri, 10/19/2007 - 23:41

pybasj pybasj

(Posts: 818 | Credits: 58.52)


Sub: #4 posted on Thu, 01/22/2009 - 10:55


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