Dear [Debtor's Name], Re: Attempt to Collect Debt before Acceleration — Account # [Account Number] I hope this letter finds you well. This correspondence serves as an attempt to collect the outstanding debt of $[Amount] owed to [Creditor's Name]. We have made several previous attempts to contact you regarding this matter but have yet to receive any response or payment from you. South Dakota Debt Collection Laws require us to make this final effort to collect the debt before proceeding with acceleration. We believe it is important to provide you with an opportunity to resolve this matter before taking further legal action. [Creditor's Name] has provided us with detailed information regarding your outstanding debt, which includes [Description of Debt]. The original agreement for this debt was entered into on [Date] and the last payment received was on [Date], leaving a remaining balance of $[Amount]. As per South Dakota law, you are entitled to dispute the validity of the debt within 30 days of receiving this letter. If you choose to dispute the debt or any portion thereof, please do so in writing and provide any supporting documents or evidence as soon as possible. Failure to dispute the debt within the specified timeframe will be considered an acknowledgment of its validity. Ignoring or avoiding this matter will not make it go away. We strongly encourage you to take immediate action and respond to this letter. There are various options available to address this debt, such as: 1. Paying the debt in full: You can settle the debt by submitting the full amount of $[Amount] through one of the following payment methods [Payment methods and instructions]. Once the payment is received, we will consider the debt satisfied, and no further action will be taken. 2. Negotiating a settlement: If you are unable to pay the full debt amount, we may be able to work out a mutually acceptable payment arrangement. Please contact our office at [Creditor's Contact Information] to discuss this further and establish a feasible repayment plan. 3. Disputing the debt: If you believe there is an error or discrepancy in the debt, you must submit a written dispute within 30 days of receiving this letter. Please outline the specific basis for your dispute and provide any supporting documentation. Upon receiving your dispute, we will investigate the matter and respond accordingly. It is important to note that if you fail to pay the debt or respond to this letter within the specified timeframe, we may proceed with acceleration and pursue legal action to recover the debt. This may result in additional costs and potential damage to your credit score. We want to resolve this matter in an amicable and fair manner. Our goal is to work towards a resolution that is mutually beneficial for both parties. Ignoring or delaying this matter will only lead to further consequences. We strongly encourage you to take this opportunity to address the outstanding debt. To avoid any misunderstandings, please ensure that all future correspondence regarding this matter is in writing. You can reach our office at [Creditor's Contact Information] during business hours [Working Hours]. Thank you for your prompt attention to this matter. Sincerely, [Your Name] [Your Title] [Your Company]
South Dakota Sample Letter for Attempt to Collect Debt before Acceleration
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