[today’s date]
[original creditor or name of collection agency if account was sold]
[creditor address]

RE: [account ex: Citibank Mastercard] account # [full account number] (if contacting a collection agency include the original acc. number, i.e., the Mastercard number in this case, and also include any acc. number assigned by the collection agency –this number would be on one of your collection letters)

Dear Customer Relations Manager, (this will usually work if you are contacting the original creditor. If you are contacting a collection agency, use: To whom it may concern)

After recently reviewing my credit report, I took notice that the above-mentioned account is currently in [status of account, ex: Charge Off] status. I sincerely would like to take care of this account as soon as possible.

Due to [whatever caused you to be late on your payments, ex: illness], I unfortunately got behind on my payments and was unable to meet my obligations. However, since then my situation has greatly improved and I am in the position to recompense this debt.

I am willing to pay [creditor’s name] [x payments a month] equalling the amount of [total they are requesting] provided that the above account is updated on all credit reporting agencies to state: PAID AS AGREED, or completely removed from all credit reporting agencies upon my final payment.

I am not agreeing to an updated credit report that states this account as: “PAID CHARGE OFF” or the like, as this will not significantly increase my credit score, nor will it reflect my sincere willingness to restore my good name and hopefully, someday, again do business with your company.

Your written response will serve as an agreement to my proposal and I will begin payments. Thank you very much for your valued time.

Best regards,
[first & last name] [street address] [city, state, zip code]