1. Any ligitation is dropped.
2 .All negative listings will be deleted from the three credit bureaus below.
Equifax
Experian
TransUnion

How important are those to get in writing?

Thanks,
Derek

I’m still trading mails with Ramsey’s team but nothing has been resolved. It’s a friendly and collaborative discussion so I expect we’ll reach an agreeable solution. Hopefully that allows me to keep on keeping on but we’ll see.

Ironic timing for your message as I was just finishing a draft for an upcoming article which plays from something I recently heard on his program.

Thanks!
Dave

This is a nice blog you have here. I have been following it for a few months now. Keep up the great work and info that you have been sharing.

I remember reading back a month or so ago about a discussion you were having with Dave Ramsey’s people over your blog. Forgive me if I missed your update, but was that resolved? And were you able to keep business as usual?

I should hope so considering you are simply bringing further awareness to his teachings and principles.
Damon Day´s last blog ..Get Out of Debt – What Strategy Makes the Most Sense?

I don’t have the allusion that one would not be harrassed after sending these letters, that is a very low likelyhood. But, sending a letter like this does – in my mind – help the sender feel better and perhaps feel somewhat more in control of the situation. It does not change the situation but it helps me hold a noble face in the situation moreso than if I avoided the situation altogether. Keep in mind, I’m thinking personal accountability of the person in the situation being impacted, not the situation as a whole. I hope that makes sense.

I also think that if the letters are sent as directed, that they *might* land on a sympathetic desk. Admittedly slim odds, but you have to land at a level where the workers are allowed to use their brain rather than in the dregs of the service centers where legal approved scripts rule the day.

As for the idea of settlement…. I see it as a cut to the chase. We can dance around trashed mail and avoided phone calls, but only one thing really resolves the issue and it’s money. Sometimes all you can do is all you can do… and I’m willing to wait until that number starts to sound good to you too!

Thanks for commenting and sharing your thoughts!
Dave

Nice letter. One thing that I would refrain from in this first letter, would be to even mention being open to a settlement. There is nothing wrong with explaining your situation, however it will not change the collection action taken by most banks. Most times it is actually better if the client doesn’t send anything at all, unless they are trying to just renegotiate interest rates and make partial payments. If they can’t pay anything at all, sending a letter might make the consumer feel better, but it isn’t going to benefit them in in terms of reduced collection action by a major Nationwide bank.

I know this may seem counter intuitive to an individual trying to be financially responsible but the cold hard reality is credit card companies do not care about you, they do not care about your situation, they do not care how long you have been a client, or how much you have paid them over the years. The only thing they care about is collecting as much as they can.
Damon Day´s last blog ..Debt Settlement Nightmare for Phoenix Woman

Dave