Subject: Comply with Debt Settlement — Offering an Opportunity to Resolve Outstanding Balance Dear [Debtor's Name], RE: Account Number: [Account Number] We hope this letter finds you well. This correspondence regards the outstanding debt related to the mentioned account, which we have been contracted to collect on behalf of [Creditor's Name]. Our records indicate an unpaid balance of $[Outstanding Balance] on the aforementioned account. It is our sincere intention to assist you in resolving this financial obligation in a mutually beneficial manner. At [Debt Collection Agency's Name], we understand that circumstances arise which may prevent individuals from promptly fulfilling their financial responsibilities. Hence, we want to provide you with an exclusive opportunity to settle this debt and alleviate the potential consequences associated with unresolved accounts. Located in the vibrant region of Mecklenburg County, North Carolina, [Creditor's Name] holds a strong presence within the community and upholds a reputation for exceptional service and integrity. It is with their best interests in mind, as well as your own, that we have been entrusted to recover this unpaid debt. To ensure a fair and equitable resolution can be achieved, we would like to propose a debt settlement offer. This arrangement would allow you to fulfill your obligation and put this matter behind you. We are sensitive to individual circumstances, and therefore, we are willing to accept a reduced amount of $[Settlement Amount] as full payment for the outstanding balance. Considering the significance of this opportunity, we encourage you to take this offer seriously. By choosing to accept our proposal, you will effectively resolve your debt with [Creditor's Name] and mitigate any further actions that may be taken to collect on this account. To proceed with the debt settlement process, we kindly request that you respond to this letter within [Number of Days] days of receiving it. We understand the weight of this situation and are committed to working with you to find a viable solution. In the event that you require additional time or have any concerns, please do not hesitate to contact our office at [Debt Collection Agency's Phone Number]. Our team of dedicated professionals is available to address any queries or clarify the details of this offer. We believe in your willingness to cooperate and resolve this matter promptly. To facilitate communication, please use the given reference number: [Reference Number]. Ensure to include it in any correspondence or when making a payment. We look forward to receiving your response within the specified timeframe and finalizing the debt settlement process. Remember, seizing this opportunity will allow you to clear your financial slate and move forward with peace of mind. Thank you for your attention to this matter. Sincerely, [Your Name] [Your Title] [Debt Collection Agency's Name] [Debt Collection Agency's Address] [Debt Collection Agency's Phone Number] [Debt Collection Agency's Email Address] [Reference Number: XXX]
Mecklenburg North Carolina Sample Letter for Debt Collection - Letter Offering Opportunity to Pay Debt
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Offer a specific dollar amount that is roughly 30% of your outstanding account balance. The lender will probably counter with a higher percentage or dollar amount. If anything above 50% is suggested, consider trying to settle with a different creditor or simply put the money in savings to help pay future monthly bills.
"If you're happy with their offer, and you should be because it's less than what you actually owe them, then you should at least consider it," he says. The alternative, according to Ulzheimer, is the creditor either outsourcing the debt to a collector or even suing you.
When writing a debt settlement letter, it's important to be explicit and detailed. Treat the letter as a contract between you and your creditor. Include your personal information and account number for easy identification. You'll need to outline the amount you can pay and what you expect in return.
Start by offering cents on every dollar you owe, say around 20 to 25 cents, then 50 cents on every dollar, then 75. The debt collector may still demand to collect the full amount that you owe, but in some cases they may also be willing to take a slightly lower amount that you propose. A payment plan.
If you decide to try to settle your unsecured debts, aim to pay 50% or less. It might take some time to get to this point, but most unsecured creditors will agree to take around 30% to 50% of the debt. So, start with a lower offerabout 15%and negotiate from there.
Start by offering cents on every dollar you owe, say around 20 to 25 cents, then 50 cents on every dollar, then 75. The debt collector may still demand to collect the full amount that you owe, but in some cases they may also be willing to take a slightly lower amount that you propose.
Offer a specific dollar amount that is roughly 30% of your outstanding account balance. The lender will probably counter with a higher percentage or dollar amount. If anything above 50% is suggested, consider trying to settle with a different creditor or simply put the money in savings to help pay future monthly bills.
Offer a Lump-Sum Settlement Some want 75%80% of what you owe. Others will take 50%, while others might settle for one-third or less. Proposing a lump-sum settlement is generally the best optionand the one most collectors will readily agree toif you can afford it.
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.
You may have more room to negotiate with a debt collector than you did with the original creditor. It can also help to work through a credit counselor or attorney. Record your agreement. Sometimes, debt collectors and consumers don't remember their conversations the same way.