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Letter to creditors to keep them off your back with excellent ratings

I heards there were letters to be written to creditors to keep them off your back and kept in good standing. Karl talked about his mother using them and I can't find it anywhere. Please help.

Hello, Jeff.
I can’t find the video. Did you have any questions on the topic?

I remember in one of Karl's audio files, that he talked about his mothers work in the IRS and when she had difficulty with making payments to a creditor, she simply wrote them a letter and apparently never had any trouble with them and maintained an excellent credit rating. I have had recent issues with a creditor and wrote to them with regards to a sudden uprising of a medical condition that would impair my ability to work and make the normal payments. They responded by removing one month of missed payments and that was the end of it for them. I honoirably made what I could and they have been penalizing me ever since. I just was looking to understand what Karl's mother did.

The resulting of all this is that my credit rating went from 766 to 520 in 2 months time and prevented my credit union from giving me a personal loan to get lower rates on some things. They ruined everything. Wish I could tell them of the financial damages they have imposed on me, but they don't seem to care anymore.

Karl’s mother worked for the IRS; being that the IRS does seasonal employment, there were times where she couldn’t pay bills. So she wrote to who she owed with something like this (my words):

Dear sir or madam,
i currently owe XXX.XX to you, however, at this time i am out of work.
Enclosed is a check for $X.XX for a payment towards what i owe.
Please accept this payment in Good-Faith that I will settle is debt once I return to work.
God Bless.

I don’t know or recall to who the debt was owed, unfortunately.

I personally dealt with something similar with a bank; however, it was written in my contract that unless I made the minimum payment, which was decided by the bank, fees would be added to my account at their discretion, and they “may” report these issues to any credit bureau.

I wrote them many times and got the same reply from one of the higher-ups telling me to call their number to solve the issue. The people on the phone wanted to know what the issue was, but they also wanted the minimums met, else I would get charged. So I found the section about extra charges and after doing the math, it would max the card before I could begin to pay the debt, so it went into collections.

Have you contacted someone up the chain (President of the Company)?

If you have been in good standing, go up the chain; someone higher up can be of more helpful with this.

Also, if you have the money to settle the debt, you can let them know you want to pay it off, but on the condition they remove all negative marks. This might take a few months to reflect.

Hopefully that helps.

-Allan

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