Expert: Ray A Miller - 2/20/2011

Question
Hello, I am hoping that you can give me some advice. I lost my job in December of 2009 and at that time my credit card went into collection. I offered to pay them $30-$40 a month from my unemployment check but they would not except it. I explained to them that I have to worry about not losing my house first but they didn't care. That collection agency then sold it to a law office. The debt is for $4,261.08 and they sent me a letter saying they would except 35% off which would be $2,769.70. I do not have that much but I will have $2,000 when my brother gets his taxes and he will be paying me back money he borrowed from a while ago. My question is how to I write back to them and offer $2,000. I am not sure how to word it, also if they accept do I make sure that this is considered paid in full and can they remove it from my credit report or at least have it said paid in full and not settled. Please let me know. I just want to get rid of this so I can stop worrying about it. Thank you for your time.

Answer
Simply write them and tell them that you will pay $2,000.00 to settle the account if they will remove it from your credit and that you would like a letter stating such.  If they will not accept this, tell them you will pay the $2,000.00 and make payments on the $769.70 also upon the conditions mentioned above.

I hope you have found this helpful.