[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Re: Outstanding Debt Notice Account Number: [Insert Account Number] Balance Due: $[Insert Amount] Dear [Debtor's Name], I hope this letter finds you well. We are writing to inform you that our records indicate an outstanding debt of $[Insert Amount] is owed to [Your Company Name]. It has come to our attention that the aforementioned amount remains unpaid despite our previous attempts to remind you of this obligation. We understand that circumstances can sometimes make it difficult for individuals to meet their financial obligations. In light of this, we would like to offer you an opportunity to settle this debt with a one-time payment. By doing so, you can avoid any further collection actions, and we can work towards resolving this matter amicably. We are willing to accept a reduced payment of $[Insert Negotiated Amount] as settlement in full for the outstanding debt mentioned above. This reduction includes a [Insert Percentage]% discount on the total amount due. The aforementioned payment must be made no later than [Insert Deadline Date] to qualify for this special offer. To make the payment, you can choose any of the following convenient methods: 1. Online Payment: Visit our website [Insert Website URL] and follow the instructions to make a secure online payment using your credit/debit card or bank account. 2. Mail Payment: Send a check or money order payable to [Your Company Name] to the following address: [Your Company Address]. Please ensure that you include your account number on the payment for proper processing. 3. Phone Payment: Contact our dedicated Debt Collection Department at [Insert Phone Number] and provide your account details to make a payment over the phone. Alternatively, if you believe there is an error or discrepancy regarding this debt, or if you require additional information to validate it, please contact us immediately at [Insert Contact Number] or via email at [Insert Email Address]. We are committed to resolving any concerns or disputes promptly and fairly. Please remember that ignoring this notice may result in further collection actions, which can adversely affect your credit score and lead to legal consequences. By taking advantage of this settlement offer, you can prevent these potential complications and relieve yourself of this financial burden. We sincerely hope that you consider this offer seriously and take the necessary steps to fulfill your payment obligation. Resolving this matter promptly will benefit both parties involved, providing legal closure and allowing you to move forward without any lingering liabilities. Thank you for your attention to this matter. We appreciate your cooperation and look forward to a positive resolution. Should you have any questions or concerns, please do not hesitate to reach out to us. Sincerely, [Your Name] [Your Title] [Your Company Name]
North Dakota Sample Letter for Debt Collection - Letter Offering Opportunity to Pay Debt
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How to fill out Sample Letter For Debt Collection - Letter Offering Opportunity To Pay Debt?
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Example letter My situation is unlikely to improve for at least 3 months. I enclose a copy of my financial statement. This shows income and expenses for me and the offers I can make to my creditors. The offers have been worked out based on what I owe so that each creditor gets a fair share of the money.
If you've got past due debt and are struggling to pay off the full amount, you may be able to negotiate it down. Depending on your situation and financial priorities, this can help you get out of debt faster and, in some cases, improve your credit.
Write a debt settlement letter to your creditor. Explain your current situation and how much you can pay upfront. Also, provide them with a clear description of what you expect in return, such as the removal of missed payments or the account shown as paid in full on your report.
Writing the Settlement Offer Letter Include your personal contact information, full name, mailing address, and account number. Specify the amount that you can pay, as well as what you expect from the creditor in return. A good starting point for negotiation could be offering around 30% of the amount that you owe.
They may accept a deal if you offer a reasonable amount over what they paid for the debt, which covers their costs, and provides a reasonable profit.
Keep in mind that negotiating parameters vary from one debt collection company to another. While one agency may accept one-third of what you owe, another one may require 75% of your full debt amount. Before you suggest a lump-sum amount, determine the maximum amount you can afford and don't budge.
Don't provide personal or sensitive financial information Never give out or confirm personal or sensitive financial information ? such as your bank account, credit card, or full Social Security number ? unless you know the company or person you are talking with is a real debt collector.
Your debt settlement proposal letter must be formal and clearly state your intentions, as well as what you expect from your creditors. You should also include all the key information your creditor will need to locate your account on their system, which includes: Your full name used on the account. Your full address.