Dear Collection Manager:
It has come to my attention, through the credit bureaus, that you claim I owe a debt to your agency. I can save us both some effort and time by “Settling the debt out”.
Below is my offer. It is not a renewed promise to pay nor does it constitute any agreement unless you sign and return it. Note, I have not agreed yet this debt is mine and have the option to seek further proof from your agency of this debt.
Suffice to say, you hold all the rights to report the debt to the credit bureaus as you see fit and you can change that listing at any time as the source reporting the debt.
I am sure you are aware of my right to dispute this debt and request full proof of the obligation. Paying this unverified debt to you has little value to me if we cannot mutually agree that you will report the debt as mentioned below.
While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would look like on my report, which is not favorable. That being said, I have determined, through the bureaus, that you have the absolute right to report this debt as you see fit or not report it at all.
In the event you indicate you are unable to remove the negative listing on my credit report, I will be forced to cease communication and request full verification of the debt.
My goal is to arrange a term acceptable to both us since this debt is questionable.
I will pay your company the amount of $xx as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company will agree to change the entry on my credit reports to ‘Paid’ immediately. You further agree to remove all previous notation of delinquency.
If you concur with these terms please acknowledge with your signature and return this letter to me. You agree the terms herein are confidential and you have the authority to make such decisions. No payment will be made without written confirmation.
Upon receipt of this signed acknowledgment, I will immediately mail you funds priority mail. This is not a renewed promise to pay but rather a restricted offer only. If no terms can be met, no new arrangements will be made, and the offer will be withdrawn.
Name of Creditor:
Signature of company officer :
Social security number
Print your name, do not sign your name!