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Requirements for Collections/ Chargeoff Settlement Letters

BayHouse Credit Forum: 10/1999 to 01/2001: Credit Reporting, FICO Credit Scoring, Disputes, Collections, Charge-offs, Bankruptcy, CCCS: CATEGORY: Credit Disputes - Bankruptcy - Establish new credit: Requirements for Collections/ Chargeoff Settlement Letters
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Andrea' Thomas (93cobra)

Thursday, October 26, 2000 - 01:44 am Click here to edit this post
I am wanting to know what specific wording I would need to include in my correspondence to 2 creditors 1 with a charge off, and the other in collections. The charge off, I am more concerned with getting favorable status on my credit report than worrying about the amounts owed. With the collections account I am concerned about both the status reported on the account as well the settling the account.

Thanks

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June Logan (Junel)

Thursday, October 26, 2000 - 04:58 am Click here to edit this post
Is the charge off a credit card? I would try and get them to give you a second chance. Maybe allow you to make payments over the next few months and then reopen the account. Depending on the credit card company, they may do this. Regarding the collections, what kind of bills are they? Most collection agencies will take settlements which can include deleting the account from your file permanently. If you can give me more info about your situation, I can help you more. I can give you specific wording, since I have letters that have worked for others, if you can give me more info. Email me if you want.


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