Modified Settlement Letter -- is this okay?

Posted by Trisha (172.165.196.187) on March 20, 2003 at 23:41:07:

This debt is for $57. It passed sol in January of this year. I want to pay to get it off my credit report. What do you think about the modified settlement letter below?

Thank you for your letter of March 17, 2003 and your quick response to my request for validation. Although this debt has passed the statute of limitations, I am willing to discuss "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.

While I realize that your purpose is to collect debts as a collection agent, I am also aware of what a paid collection would represent for me, which is not favorable. That being said, I have concurred through the bureaus that you have the absolute right to report this debt as you see fit or not report it at all.

Please do not quote to me that you are unable to change the listing or I will be forced to cease and desist our communication. My goal is to arrange a term acceptable to both us.

I will pay your company the amount of $57 as payment in full for the full satisfaction of this account. Upon receipt of the above payment, your company has agreed to remove all notation of this account from my credit reports.

If you concur with these terms please acknowledge with your signature and return it 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. 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 void.

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