Hmm... I need to find out myself. I don't know what is the answer. I'll do some Googling and get back to you if I got an useful answer. You should email the people at Lending Tree as they probably can help you..

Or you could always offer to pay for deletion.....

Ozzy...

What would be the best way to word a letter suggesting an offer to pay for a deletion?.

ChrisB..

I have always called to speak with someone. So far I;m batting 1000. Being very nice works! Explain that you want to pay the bill and will do so in exchange for a cancellation letter. Since the amount is so low, they most likely will not issue a letter before receiving payment. After you both agree to do so, write a letter ( I have one if you want me to post it) that icnldes a release that says per your oral agreement blah blah blah they will issue a cancellation letter if the debt is paid iin full. Also, put a clause in there that says if they change their mind, the copy of the release and the cancelled check will serve the same purpose.

Make sure you point out that if they deposit/cash the check, they agree to the terms of your agreement and release..

Make sure you write small on the back of the check, so it all fits..

"By endorsing/depositing/cashing this check, payee agrees to issue cancellation letters to all 3 CRA's, to XXXXXX (your name) and to cinsider this debt paid in full".

Let me know if you need an example of a letter..

Nikki..

I have to disagree with this post. You should never call a CA and say you want to pay.The whole cancellation agreement means nothing unless they explicitly agree in writing to delete upon payment. Send them a validation letter CRRR. Once you receive the green card back dispute with the CRA's. If the CA verifies without providing you validation you now have them on a violation. If they do not mark your account in dispute you have them on another violation.

I am willing to bet they will delete immediately upon receipt of estoppel/intent to sue combo letter. If not sue them and get your deletion plus $$$. Good luck..

Well, talk about 2 TOTALLY different angles!.

If the amount was greater...yes, I'd say go for it. But...$51 bucks, come on! This has worked EVERY time for me. I walk away in a good mood...no estoppel letters, or anything to get me riled up. I show interest in paying the debt...IF they cancel. If not, well, THEN we go the a-hole route. I believe there's a time to be nice and a time to be not-so-nice.

BUT why start off acting like a sonofabitch meant in the most affectionate of ways, lol), talking about violations and suing, blah blah blah. There's a time and a place for everything. (I'm not trying to flame anyone here. I find it informational when people post different ideas and opinions)..

I understand that sometimes, to get what we want from the nasty CA's, we do need to be solid in our stance..

BUT I also believe, if you can solve the matter without getting pissed at someone you don't even know, then why not try? You catch more flies with sugar tan you do with vinegar. I know, I know, I'm a dying breed..

Nikki..

You might not like this, but...

Only pay if they will sign a letter stating it will be deleted. even then you might get screwed..

Did you validate? did you verify they are bonded to collect in your state?.

Do those things first before considering paying. don't call them and don't take their unwritten word for anything..

I promise you, if you just flat out pay them without getting something in writing, you WILL get screwed. They have no incentive to do jack-sh*t for you, it's only $51 bux..

At worse, by validating and such you will just end up paying it should they comply, which is what you are planning to do anyway. At least by validating and such you have a better chance of forcing their hand. after all, they are a POS CA...

Nikki could you send or post example letter for this method thank you..

Marc,.

Here is a rough draft of what I use. I also write a release on the back of the check. I make copies of the letter, both sides of the check. I also fax the CA ahead of time with the correspondence and copy of the check that I am sending. Keep fax transmission sheets, too. Payment and letter is sent CRRR or Fed Ex.

They also note that cancellationletter was issued on your account. Forward copies of all info to CRA to dispute..

Like I said, this has ALWAYS worked for me. Oral agreements really don't mean jack, so make sure everything is in writing. There are other routes to go, but I have had greatest success with this. Now, if it is something that is worth arguing, then that's a whole other story..

Nikki.

Name.

Address.

January 13, 2003.

Mr. XXXX.

CA Name.

CA Adress.

Re: Collection Account for _______.

Account #: ______.

Amount: $_______.

Dear Mr. XXX,.

Enclosed please find payment in full in the amount of $______for the above-referenced account. This debt was disputed, however, to resolve the matter completely, an agreement with you was reached. Please understand the following prior to depositing this payment..

By endorsing/depositing/cashing this check, it is understood and agreed that:.

____(CA Name) will consider the above referenced debt as paid in full and will issue a letter of cancellation, regarding this debt, to me, _______, and any and all credit reporting agencies to which this debt was reported. This letter will cancel and completely remove any and all information related to this account from any and all of my credit reports on which this derogatory information was reported..

The conditions stated above are pursuant to telephone conversations with ______. Per our telephone conversation and our oral agreement on (DATE), it was agreed that as long as payment was received in full, a cancellation letter would be issued by your company to me and to the credit reporting agencies to which this obligation has been reported. Please realize that if, after the 10 day waiting period has been met (most CA's have a waiting period for the check to clear), you do not fulfill your agreement, this letter and a copy of the cancelled check will serve the same purpose as the original cancellation letter that was promised, being it would serve to grant permission for the credit reporting agencies to remove any and all information regarding this debt from my credit reports. If you do not agree to this, please do not endorse and/or cash/deposit the check, as doing so would enforce the terms of this release..

I will be in contact with you regarding the issuance of the cancellation letter. Please make note of the facsimile number to which you will be forwarding my copy of the letter. The fax number is (I always have them faxed once I have proof the check has cleared) Thank you for your cooperation in resolving this matter. Please feel free to call me with any questions..

Sincerely,.

XXXXX.

YOUR INITs/ns enc.

CC: file..

This is much ado about a measly 51 bucks. If your credit report is so severe that every deletion helps, obtain a letter that they will delete in exchange for payment. But in any case you should pay if you owe it...

I agree Rina... 51.00. if it's yours just pay it. Try to get pay for deletion. Even if they put it on your report paid you can always dispute it later...

Make it clear you dispute the debt and put something like:.

"In the spirit of compromise, I am willing to pay this amount if you agree in writing to deletion of this account from all 3 CRs. Please be advised that this offer shall not be deemed as an admission of my liability to this debt.".

Something like that...

I like that Rocket..

Will keep for future reference..

Nikki..

I assume you are trying to get an accord and satisfaction with this agreement. Be advised that many states require the "accord" to be on the face of the check in order to be effective...

However a paid or unpaid CA TL for 51 bucks is as damaging as one for 40,000 to FICO and credit scores. If they CA was truly interested in resolving the matter they would offere deletion up front...

I agree with pnwman. I would never risk paying this no matter how small without an upfront guarantee of deletion in writing. Further as far as accord and satisfaction goes, you better do your research. Many states allow the CA to simply cross out the accord and satisfaction and cash the check and they are not held to it. I know this for a fact as New York is one of those states...

Robin,.

Thanks for input. How would I find out if TX is one of those states? Normally, I write on the face and the back of the check. Maybe I have just been lucky that this has worked..

Nikki..

Thats garbage. In Louisiana, the creditor must get the WRITTEN consent of the debtor to change a restrictive notation. If they do not get it down it writing and they change the notation, the alteration is ineffective. Meaning: The debtor is off the hook...

Excuse me, I think I clearly stated that one of the states is New York. No one said anything about Louisiana. Please read the post carefully before you fly off the handle with inappropriate responses...

It does vary from State to State. It is important to verify if the restictive endorsement is valid in the State you are in...

Some states allow CA, DC and Creditors to mark through a CE (conditional endorsement) and write "under protest" or "without prejudice" and it voids the A&S completely, those states are listed below:.

Alabama.

Delaware.

Massachusetts.

Minnesota.

Missouri.

New Hampshire.

New York.

Ohio.

Rhode Island.

South Carolina.

Other states strictly enforce the legalities of Accord & Satisfaction and they are as follows:.

Arkansas.

Colorado.

Kansas.

Connecticut.

Louisiana.

Georgia.

Maine.

Michigan.

Nebraska.

New Jersey.

North Carolina.

Oregon.

Pennsylvania.

Texas.

Utah.

Vermont.

Virginia.

Washington.

Wyoming.

South Dakota.

West Virginia.

Wisconsin.

These are the facts. Don't post without em'..

I was saying the law was garbage. Sorry for the misunderstanding...

I meant I thought the law was garbage. Sorry for the misunderstanding. I will make sure I am clear on what I am talking about next time...

Heh heh...I love this board..

Anyhow, Louisiana is one of the most consumer friendly states, from what I've read. TX isn;t bad from what I've been able to gather. Still trying to find out if TX is one of those states that can cross out the thingy you write on the back of the check (or front of it). Sorry...forgot the name of it..

Nikki..

Its not really because Louisiana is "consumer friendly," but the reason you need the written consent of a debtor to void an accord and satisfaction is because Louisiana requires all settlements and compromises to be in writing. There are no oral settlements in Louisiana..

Basically, Louisiana law recognizes the striking of a provision in any settlement as a "counteroffer." the counteroffer is in writing because of the striking of the check. However, the "acceptance" of that counteroffer is not in writing. Thus, the creditor is deemed, when he cashes the check, to have accepted the original terms, since the new terms have not been agreed to (in writing)..

A creditor's best bet in Louisiana is not to cash the check and demand a new one...

I heard TX is one of those states where you can still just "shake on it"(hands, lol). I don't know how anyone would go about proving anything if that's true. I undertand what youa re saying about the written change of any contract or agreement. I always thought that if any changes are made, both parties must initial the doc where it was amended..

Hey, I AM learning alot here...just a little slower than I'd like..

Nikki..

Do not just 'pay it because you owe it'.

Unless you want a 51.00 negative notation on your credit report for 7 years and no hope of ever getting it off early..

51.00 or 5,100.00, doesnt matter, it is still just as bad on your credit report. PAID or UNPAID, it is a collection...

I think I should clarify something I just said. In Louisiana, there are no oral settlements, but you can have an oral contract. Two people can agree to the purchase of a car orally, but if the debtor owes a creditor $5,000, they cannot settle that amount orally..

New Contracts = oral or written.

Settlement of Existing Obligations: Must be in writing..

Thats in Louisiana, Your state is probably different...

Hey, this isn't the same "rocket" from the about.com credit board, is it? Just had to ask..

Nikki..

Nope. The only other board I am is faircredit...

Sorry for confusion..

Hey, need to find info on interest and charge-offs, but feel like I'm hijacking thread. Any suggestions? (not on hijacking, lol).

Nikki..

When you purchase a service or product on credit, it is understood you will repay it. If the debt was several thousand dollars and a hardship that would be a different matter. However, the OP.

Does.

Have the $51, but wants to play hardball and avoid paying for his mistake via his credit score..

I'm not saying people should not be shown some leniency now and then, but to assume you have the right to a deletion is arrogant...

Dont pay that 51.00 debt unless they will delete it..

Make them put it in writing as well..

Validate, estoppel comes first..

Settlement comes last..

If you do it any other way you are screwing yourself. Regardless of whether you owe the debt or not..

Do not bring morality into the picture. CA's have no morals, neither should you when dealing with them...

I assume you are trying to get an accord and satisfaction with this agreement..

=======================.

I prefer a separate contract or agreement over an accord and satisfaction as that is effective and enforceable in every state..

Before I did a A&S payment, check out a Conditional endorsement..

But, before I did any of those, send a letter to those Bozo's telling them your not sure if this is yours, but you will pay in full if you get a agreement of deletion first. Let em' know a check is waiting. Se the FAQ for some letters of settlement..

If you pay them without the letter you will end up in court just the same as you will with an A&S payment. Don't forget, CA's are very stupid and lazy...

Budgetboy didn't ask about the morality of paying v. not paying the debt..

I can't stand it when all you 'moral fiber' folks start in on someone..

I'm with Robin on this one. validate the CA, wait two weeks, verify the CRAs. If the CRAs come back verified then it's a violation. If the CA cannot validate and continues to try to collect it's a violation. If the CA doesn't mark all three CRAs as 'consumer disputes' it's a violation..

To you this is 'ABC Collections' (or whoever), to them you are 'account number 1,234,567,890,123'. They don't give a damn about you so get that through your head..

Don't pay if you can get it deleted without paying is my moto, I have a family to feed and they come first, WAY before any collection agency..

Good luck with this Bb..

Well said, Rina..

If the debt is yours and you're able to pay it, then pay it. Morality does matter and so does honoring a contract that YOU signed..

If you're able to negotiate payment for deletion, great!.

If you can't, still pay it. It isn't as hard as some people say to remove paid collections..

I had 13 accounts like that and within one year they were all gone...

I do not believe that ANY collection account that has been sold to a collection agency is a legitimate debt..

Quite the contrary, I believe that the whole system of CAs buying discounted debts for 10 on the $ ,and then demanding full payment + added fees from the debtor is illicit and "immoral"..

If you give in to this system by paying them a single red ,then you are propogating and encouraging the idea of business "write-offs" for the fat cat OCs that are not actual financial losses, because their parasitic CAs reap the benefits...

Can be typed by holding the ALT key and typing 0162 on the numeric keypad..

I know this works in windows, not sure about Mac or *nix..

I understand what you're saying and I do agree. Really..

But if you enter into a credit contract and the terms say that if you default, then they can use certain means necessary to get their money including "turning this over to a 3rd party CA", then you've entered the contract, imo, with your eyes wide open..

At that point, what you think about how much the CA paid the OC for the debt is irrelevant to the issue between you and the OC. And if the CA wants to charge full price owed to the OC, then that is their perogative..

Yes - THAT IS IMMORAL. I agree. But, it is the law (at least right now). Let's change the law. :-).

So, learn their game and play it well. Let them hang themselves with violations, so that you recoup whatever money they're trying to get and more. Marie did it. So have many others..

But I just think a blanket statement of "don't pay simply b/c it is a CA" is troublesome..

Personally - I would pay/dispute with only the OC in a situation so I wouldn't have to even go there with the CA if at all possible...

I do not agree that ALL debts from a CA are not legitimate. I do believe they should have to prove you owe the debt before you pay it..

I also do not agree that paying 10 on the dollar is immoral either. THats what a business does. They buy a product, and then amrkup the price to make a profit. You would not be able to make a profit if you sold something for the same price you bought it for..

If the OC decided to accept 10 on the dollar for a debt a consumer owes, then the OC should be allowed to do that. IT should still fall upon the consumer to pay the debt debt holder for his debt if it can be proven to be his...

Thst's ok you don't have to be right to disagree...

Texas is a state that strictly enforces "Restrictive endoresements" A CA/OC can not write under protest, it would not be valid. It must be a good faith settlement offer. You have to send a letter out 15 days before sending payment- to allow the creditor to decide if they will accept. The letter as well "special endorsement" on the money order must be worded very carefully to hold up in court...

First let me say that my aged eyesight was not able to tell the difference between & ..

I understand your viewpont Marci, however, you misunderstand my position. I agree that the laws of contracts should be upheld, and that if you enter into a contract it should be honored, HOWEVER, once someone has defaulted, the contract has already been breached, that is why the first delinqency, (breach of contract) is the start of SOL, (cause of action)..

You cannot repair the breach, it is a done deal,so whatever the CA says or whatever your opinion is of "breaking a contract" or fulfilling an obligation, legally it is no longer possible to do so..

Now, if the OC sues you on the breach, and recovers damages, they are made whole, under the law on the defaulted contract. If they "settle" they have ammended the contract and THAT is also a legal procedure..

The legal status of CA's assignees of the defaulted contract is another area of law completely. They are scavengars, garbage pickers and have only a superficial legal claim to the leavings of the OC..

So, if your point is that a debtor still must uphold the full burden of a defaulted contract to a 3rd part collector, there is no justification in law, in my opinion, for that position..

The fact that a OC CAN file suit in a timely manner to uphold their interests, but choose not to in order to pad their books, speaks more to the truth of this subject than anything else...

If making a profit off debt collection is immoral, explain to me why Walmart is not immoral for charging you $5.00 for a box of Tylenol it paid $2.50 for?..

Also, I would like to point out that you should not just pay any CA that claims you owe a debt. At one I had 3 different CAs claiming they owned the same debt. I had to send C&Ds to all 3, and eventually the OC took my payment..

However, I do believe that once a CA proves to you it has acquired a debt, and they can prove you actually incurred the debt, it becomes time to pay your obligations (assuming it's not beyond the SOL)..

I think it's bad faith to claim "I am not paying this debt unless yoy give me a deletion" after hey have positively established the debt belongs to you..

Playing devil's advocate here I can honestly see a CA saying thats fine........... I will go ahead and file suit and you will then have a judgment on your record. Have a good day..

A little self-responsibility is all this country needs...