[Your Name] [Your Address] [City, State, ZIP] [Date] [Collection Agency Name] [Collection Agency Address] [City, State, ZIP] Subject: Referral of Account for Collection — [Debtor Name], Account # [Account Number] Dear [Collection Agency Name], I am writing to refer the account of [Debtor Name] with account number [Account Number] to your agency for collection proceedings. Despite several attempts to contact the debtor and numerous collection efforts by our company, the outstanding balance of [Amount Due] remains unpaid for [Number of Days] days beyond the due date. [Debtor Name] is a resident of Colorado, and as such, I understand that the Colorado Fair Debt Collection Practices Act (CFD CPA) applies to any collections activities conducted in relation to this debt. We expect your agency to adhere to all relevant regulations and guidelines outlined in the CFD CPA. To provide you with a comprehensive understanding of the debt, please find the following detailed information regarding the account: — Debtor Name: [Debtor Name— - Account Number: [Account Number] — Original Creditor: [Original Creditor Name] — Total Amount Due: [Amount Due— - Date of Last Payment: [Last Payment Date] — Date of Default: [Default Date] Additionally, here are some important details related to the debt: 1. Nature of Debt: [Briefly describe the nature of the debt, such as outstanding credit card balance, unpaid medical bills, etc.] 2. Supporting Documentation: [Specify any available documentation supporting the debt, e.g., invoices, signed agreements, or account statements] 3. Communication History: [Provide a brief overview of all previous attempts made to contact the debtor and any communication exchanged] Considering the debtor's lack of response and our unsuccessful attempts to resolve this matter in-house, we are seeking your expertise and assistance in collecting the outstanding amount. As per your usual procedure, please initiate collection efforts, including but not limited to: — Sending formal demand letter— - Contacting the debtor via phone calls or email — Reporting the debt to credit reporting bureaus, if necessary — Implementing appropriate legal actions, if required We kindly request that you provide periodic updates regarding the progress of the collection process and inform us immediately if any payments are received or if you encounter any challenges along the way. Please note that any additional fees, charges, or costs incurred during the collection process should be thoroughly explained and must comply with the CFD CPA. Thank you for your prompt attention to this matter. Should you require any further information or supporting documentation, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. We trust in your expertise and professionalism in successfully collecting the outstanding debt. We look forward to working with your agency to resolve this matter promptly and efficiently. Sincerely, [Your Name] [Your Title/Position] [Your Company Name]
Colorado Sample Letter for Collection - Referral of Account to Collection Agency
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How to fill out Colorado Sample Letter For Collection - Referral Of Account To Collection Agency?
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Format the letter thusly: Your full name and address. The collections agency's name and address. A request for the amount of the debt claimed to be owed. A request for the name of the original creditor. A request for the judgment information (if applicable) A request for proof of the company's license.
3 Things You Should NEVER Say To A Debt CollectorAdditional Phone Numbers (other than what they already have)Email Addresses.Mailing Address (unless you intend on coming to a payment agreement)Employer or Past Employers.Family Information (ex.Bank Account Information.Credit Card Number.Social Security Number.
The debt dispute letter should include your personal identifying information; verification of the amount of debt owed; the name of the creditor for the debt; and a request the debt not be reported to credit reporting agencies until the matter is resolved or have it removed from the report, if it already has been
Among the insider tips, Ulzheimer shared with the audience was this: if you are being pursued by debt collectors, you can stop them from calling you ever again by telling them '11-word phrase'. This simple idea was later advertised as an '11-word phrase to stop debt collectors'.
Format the letter thusly: Your full name and address. The collections agency's name and address. A request for the amount of the debt claimed to be owed. A request for the name of the original creditor. A request for the judgment information (if applicable) A request for proof of the company's license.
Partial repayment. When dealing with a collection agency, start your negotiations low. Start by offering cents on every dollar you owe, say around 20 to 25 cents, then 50 cents on every dollar, then 75.
If you have inaccurate or incomplete collection accounts on your credit report, the Fair Credit Reporting Act gives you the power to dispute this information directly with the credit bureaus or creditor. You can send a dispute using the dispute form on each credit bureau's website.
The third collection letter should include the following information:Mention of all previous attempts to collect.Invoice number and amount.Original invoice due date.Current days past due.Instructions on what they should do next.A warning of the impending consequences.More items...
Steps to take before sending someone to collectionsCall the debtor.Send debt collection letters.Resend your invoice with added late fees.Offer a settlement.Go to small claims court.Hire a lawyer.
The debt dispute letter should include your personal identifying information; verification of the amount of debt owed; the name of the creditor for the debt; and a request the debt not be reported to credit reporting agencies until the matter is resolved or have it removed from the report, if it already has been
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With over 632 million consumers, the agency's staff works in each of the 50 states, the territories, and the District of Columbia. This year, CFPB brought a record 13 billion in civil financial enforcement actions, including settlements with 13 major financial companies for misrepresenting risks in mortgage products. In addition, the bureau is actively working with Congress to protect consumers from unfair practices and predatory practices in the private sector, including the use of arbitration agreements and arbitration clauses in consumer contracts. The Federal Deposit Insurance Corporation is another important federal agency that protects the American people from risky financial transactions such as the subprime mortgage and real estate market turmoil that occurred during the last decade. While the FDIC's core mission remains to insure deposits in the U.S.
