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Sample letter to collection agency - Visit debt settlement letters

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Posts: 72
Credits: 1778.9

I have been doing alot of reading on debt. I have my credit report and added all my debt up and its only 4,555.00 and a lot of them are small amounts so i dont think i should consolidate. I would like to negotiate with the collection people. I would like to get them to settle with me with me paying just a % of what i owe and agreeing to remove the item from my report. A lot of these are 4-6 yrs old so they will be falling off in a year or 2 but i need to do something now. Where can i find a good proposial letter to send them? Free would be good but if i have 2 pay for one i will do that as well. I read where alot of collection people would settle for around 25% 35% of the ballance. Any help would be great.

Posts: 290
Credits: 2036.95

Sub: #1 The creditors do not generally remove the negative listings thro
Tue, 04/21/2009 - 06:12

The creditors do not generally remove the negative listings through PFD if you settle the debt for less. However, if you pay it off in full, then they may agree to pay for deletion agreement. But if the debt has been sold off to the CA, and the name of both the OC and the CA has been listed in your credit report, only the CA listing will be removed, but not the OC listing.
Moreover, you should also check the SOL on the debt. If the SOl has expired and you make even a small payment, the SOL will restart and the creditor can sue you to the court and bring judgment against you to recover the entire debt. You can find sample letters if you visit the link debt settlement letters.

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