My PFD letter. Opinions??

[ThePawn]

Hi everybody. I am sending out a PFD letter tomorrow and wanted to get everyone's opinion. I based this letter off of the awesome PFD letters posted by Trish in the beginner's forum. Thanks

August 4, 2011

Jason M
10XX Xxxyyy Dr.
Huntsville, AL 11111-1111

Bad Idea MasterCard
ATTN:Exception Dept.
1111 E. Xyyyz Road
Xdfdd, IL 11111

Re: Acct # XXXX-XXXX-XXXX-XXXX

To Whom It May Concern:

I am sending this payment via certified mail #xxxx xxxx xxxx xxxx xxxx to ensure that you receive it. Enclosed please find cashier's check #xxxx from Jason M in the amount of $xx.xx made payable to Bad Idea MasterCard. I , like many other consumers, am in the process of rebuilding my credit. Please note that the enclosed cashier's check is made out for an amount greater than what I owe Bad Idea MasterCard. This action was purposely taken in good faith.

By cashing this check Bad Idea MasterCard agrees to the following terms:

1. Bad Idea MasterCard agrees not to report any information about this account to any of the credit bureaus.

2. Any and all inquiries and negative trade lines made by Bad Idea MasterCard will be deleted from Jason M's credit reports within 10 business days.

3. No accounts will be verified to any of the credit bureaus.

4. Jason M will be provided a letter from Bad Idea MasterCard stating that the account is closed and will not be verified to any Credit Reporting Agency or other third parties.

5. Bad Idea MasterCard is prohibited from selling, assigning, or otherwise transferring this account to any third party Collection Agency.

If these terms are agreeable and acceptable to Bad Idea MasterCard, please accept the enclosed check in the amount of $xxx.xx.

Please note that cashing the enclosed check will bind you to the terms set forth in this letter.



Best Regards,

Jason M

[Lian]

That is placing a slew of business conditions on them. It also refers to deletion of all trade lines???

Not report any further information to a CRA? Even if a deletion? Have they already reported?

[Hal Jordan]

Here is the letter I've had a lot of success with.. It's not overly wordy and it protects your deal if they take it.



"I have reviewed your statements and gone over my records and I do not believe this debt you are requesting payment on is mine. HOWEVER, I do wish to save myself all of the time and effort it would take to dispute this matter to completion so I would like to try and settle this debt immediately by offering $____ as payment in full.

I am willing to pay ($___) in return for your agreement to remove all information regarding this debt from all three of the major credit reporting agencies (namely Equifax, TransUnion and Experian) and to also consider this debt as 100% satisfied and paid in full once you have received the $___ payment from me.

If you agree in writing to the terms of this settlement offer, I will be more than happy to immediately send you payment for ($___) via your preferred method of payment.

Sincerely,

Hal Jordan"

I also highly recommend NOT paying them more than they are asking for or more than they are due. There is no need to bribe these people. That looks bad anyway and may end up in a refusal just because it's so shaddy.

You are going to find all kinds of letters all over the internet written with over necessary legalize. A simple direct letter like I've written covers everything and doesn't place a bunch of seriously unnecessary conditions or terms on just getting this thing satisfied and deleted.