Sample Credit Card Cancellation Letter
Here's a mistake we hear about from time to time: Joe decides to take our advice and reduce the number of credit cards he has in his wallet. So he goes and cuts up a few of his cards and tosses them in the trash.
Good for him, right? Well, yes.
But Joe needs to take one more step.
Here's the problem: Cutting up your credit cards doesn't close the accounts–you actually have to let the credit bureaus know that you've closed the accounts. And if the accounts aren't closed, you may hurt your chances of getting credit in the future because it will appear that you've got open credit lines from those old cards.
Dolan Smart Money Move: To close a credit card account, simply send a letter with your name, address and account number to the credit card company, asking them to close the account. The point is to show credit rating agencies that you are canceling and not being canceled by the card company because you're a deadbeat.
We want to make this as easy as possible so we've written one for you. To make your point clear, use our form letter below to write to the company:
Credit Card Cancellation Letter
[Your name]
[Your address]
[Date]
Dear Sir or Madam:
Please let this letter serve as notice that I am terminating my credit card account effective immediately. Please close the following account:
Credit Card Company: ____________
Account Number: ________________
Please send me written confirmation that my account has been closed. Also, please confirm that you have notified all appropriate credit card bureaus that this account was closed at my request.
Thank you for your prompt attention to this matter.
Sincerely,
[Your Signature]
Source : http://www.dolans.com
How to Cancel your Auto Insurance Policy
It’s true there are a lot of fish in the sea and that you’ve got to kiss a lot of frogs before you find the handsome prince, so it’s not unheard of that you may want to switch insurance providers. Like in a divorce, the way to do it is as amicably as possible and without hard feelings for either party. So if you’ve decided you want to play the field and go to another insurance agency, before you fly the coop, there are a few things you need to think about first:
– Don’t just stop paying your premium. The insurer will just cancel YOU then, and this will show up on your credit report as an unpaid bill. Maybe a big one, depending on how many months are left on your policy. This will sully your sterling reputation and from henceforth you will be labeled a BAD RISK (read: “deadbeat”) in insurance-land. Whatever company you decide on in the future will then charge you a higher rate – sort of a poetic justice kind of thing. So if you’re going to make the break, be civil about it and at least write them a “Dear John” letter. This will also help to eliminate any confusion and give you a written record to guard against any potential problems with the change. And even if you don’t give a whit, it gives your current provider a little lead time to close out your policy.
– If at all possible (like if you’re not moving out of state), postpone your switch until your current policy comes up for renewal. Otherwise, you will pay a penalty for canceling prematurely. The amount of your penalty depends on how much time is left on your policy: The more months remaining, the higher the penalty. You’ve broken their hearts, and now you’re going to pay for it. Just be glad they’re not suing you for breach of promise and asking for the engagement ring back.
– Don’t change your mind after you commit. The worst thing you can do is buy from one insurer, get a wandering eye, and buy from another right afterward. The first insurer will really get you for premature cancellation, since they’ve only had you covered for such a short time. Hell hath no fury like an insurer scorned.
– Don’t play the field too frequently. Despite rumors to the contrary from spurned policyholders, the insurance biz really does try to maintain an image of trust and good faith. If you’re a company-hopper, no insurer can really get to know you well enough to give you the benefit of the doubt should anything questionable arise in your relationship – kind of like that old lipstick-on-the-collar kind of thing. In this case, it’d be the old dent-in-the-fender story.
If you’re determined you still want to check out that greener-looking grass on the other side of the insurance fence, make sure there's no lapse in your coverage. You want the new company to be waiting in the wings, ready to marry as soon as the divorce is final. Coordinate with your new insurer to guarantee that your new policy takes effect as soon as the old one ends. Never, ever cancel your existing policy until you know exactly when your new one begins. If you leave a gap, that little fender bender you might have while you're uninsured could wipe out any new policy savings you had anticipated, and your old insurer will be snickering all the way to divorce court.
Source : http://www.autoinsurancecompendium.com
Sample Letters For Private Mortgage Insurance Cancellation
606 Young Street
Dallas, TX 75202
October 7, 1998
ABC Mortgage Company
5150 Financial Way
Dallas, TX 75202
REF: PMI Cancellation, Loan Acct. # 123 456 789
To Whom It May Concern:
Please cancel my private mortgage insurance at once.
Sincerely,
Benjamin F. Dover
------------------------- Template Started--------------------------------
{Consumer's Name}
{Consumer's Current Billing Address}
{Consumer's City, State, Zip}
{Date}
{Name of Your Mortgage Company}
{Mortgage Company Mailing Address}
{Mortgage Company City, State & Zip Code}
REF: PMI Cancellation, {Your Loan Account Number}
To Whom It May Concern:
Please cancel my private mortgage insurance at once.
Sincerely,
{Your signature}
{Your Printed Name}
------------------------- End Of Template --------------------------------
Source : http://www.bendover.com
