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If you’ve negotiated your debt with your creditor or collection agency, you need to confirm the offer in writing and get the creditor’s signature prior to making any payment. This is when a Letter of Acceptance of Verbal (Debt Settlement) Offer can help. Given below is a sample format of such a letter. Letter of [...]
A counter offer for debt settlement is what you negotiate to pay your creditors/collection agency in response to their offer for payment of the debt in full. You can send in a letter to the creditor in order to counter the amount he has asked you to pay. A sample format of the counter offer [...]
A counter offer for debt settlement is what you propose to pay your creditors/collection agency in response to the offer they make for payment of your debt in full. A sample counter offer letter for settlement is given below for your reference. It should be attached to the Debt Settlement Agreement Letter sent to your [...]
Under the FDCPA, no collection agency can take a legal action against you for non-payment of debt once the Statute of Limitation (SOL) period expires. However, if a collection agency tries to collect on a debt and threatens to sue you even after the SOL expires, you should use the Expired SOL Notification Letter to [...]
There are ways by which you can stop harassing phone calls from collection agency. One such way is to send a Cease and Desist Letter to the collection agency thereby requesting them to stop contacting you. Given below is a sample Cease and Desist Letter. Your Name Your Address Your Phone# Collector’s Name Collector’s Address [...]
If you’re interested to deal with your original creditor regarding payment of debt and would not like to interact with the collection agency, you’ll need to stop their collection efforts. Under the FDCPA, you have the right to ask the collection agency to stop contacting you and they must comply with your request. This is [...]
Debt validation works only with collection agencies and not the original creditor. The only way you can make your original creditor verify your debt is by telling him that you’ll sue his company for defamation if he cannot prove that you are actually late on payments or even that you are on the debt account. [...]
If you have contacted the collection agency and requested a validation of debt, but they haven’t sent you a proof of your legal obligation to pay off debt, you need to send a letter to the credit bureau. You should send the letter via a registered mail. Debt Validation Follow-up Letter to credit bureau Your [...]
If a collection agency doesn’t contact you with enough proof even after you’ve requested a debt validation, you may send them a Debt Validation Follow-up Letter (via registered mail). Here’s a sample of such a letter. Your Name Your Address Your Phone # Collector’s Name Collector’s Address Date Dear Collection Manager, Re: Account Number__________ I [...]
Your Name Your Address Your Phone # Collector’s Name Collector’s Address Date Dear Collection Manager, Re: Account Number__________ This is to inform you that I’ve recently pulled my credit report and noticed that there’s a collection from your agency on my credit report. I have never been notified of this collection. However, this letter does [...]