Debt Collector Terms Agreement

Bruce Smith

Address

City, State, Zip

RE:   TERMS AGREEMENT

          (Debt collector acct #/ reference original acct #)

Dear Mr. Smith:

In regards to our verbal agreement to accept settlement of the amount owing on the above described account, please accept this letter as our acceptance of the terms listed below once we have received your payment.

TERMS:

1.  [Debt collector name] agrees to accept [$xxx.xx] as payment in full for debt originally owned by [original collector] [original account #] listed under [debt collector name/account number].

2. [Debt collector name] agrees to report this tradeline to the three main Credit Repositories/Bureaus as a “Zero Balance” and “Paid as Agreed” account.

3. [Debt collector name] will not give this tradeline any new account number, resell this debt or any remaining balance to any other party, re-age the or change the original date of delinquency for this account, or change the reporting status after the terms of the agreement have been met other than the agreement listed in #2 above.

4. (Note to consumer, negotiate for this #4 if possible, however if successful, you will not need terms #2 and #3. Make sure you leave enough time for your delivery method)

 [Debt collector name] will remove the account in its entirety as it was reported in error.

 This payment must be received by [debt collector] within __ business days of this letter at the address listed below.

 Sincerely,

Debt Collector

(Name/title of individual making decision)

Address

City, State