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I want to negotiate a price say (30%) i hear is about normal but also would like to get a deletion for payment on as many accounts as possible so my question is......Do I try to negotiate a price? If so what letter format do I use? Or do I ask to get a pfd first? that letter format i found. Can they both be in the same letter? Does anyone have a sample? thanks
debt settlement letter first
Hi Mykel,
First contact the creditor or the collection agency and offer a settlement. Then send a debt settlement letter to the creditor or the collection agency. You will be able to get a sample debt settlement offer letter at "http://www.docstoc.com/docs/3454724/Free-Sample-Debt-Settlement-Offer-L…;. Mention that you are willing to pay the debt.
After they agree to the settlement offer, you can send the "Pay for delete" (PFD) letter to them. You can get a sample PFD letter at http://www.creditmagic.org/repair/pay-for-delete.html . However, not all creditors and collection agencies agree to a PFD.
Hope this helps.
Regards,
Aaron
Mykel, Also please remember to get any offer they give you in writing. This includes the agreement for the PFD and any amount that you and trhe collector has come to agreement on. Would you like to leave some information on this debt? I only ask because I am wondering if it is stilled owned by the original creditor or if it was bought buy a junk debt collector. Any time the original creditor does not still own a debt you should be sure to ask for debt validation to be sure they are legally entitled to collect the debt.
Mykel, have you sent a DV letter or 623 letter on this debt. You need to establish that they have proof of this debt.
During this procedure the CA may offer a settlement. This puts you in a position to counter with a PFD or lower amount.
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dWSs01 Thanks again for the blog article.Thanks Again. Awesome.