Free Debtor Help: Debt Settlement and Collection Letter

Debt Settlement Letters are Common in Debt Collection

The following is an example of a debt settlement letter sent by a debt collector.

PERSONAL & CONFIDENTIAL
Interested in saving $1,416.2 1, read on

Our client has authorized us to accept a 40% discount off your outstanding balance to settle the account in full. The complete details of your account are:

• Client
• Original Creditor
• Account #
• Outstanding Balance
• File #

We can accept this reduced amount under your preferred option:
1. Pay the full amount to us in one payment.
2. Pay a down-payment and the remaining balance 30 days after your first payment is received.
3. You may have an opportunity to split your settlement into 2 payments each. Call our office for details.
4. Contact one of our agents, who have been specially trained to listen to your circumstances and guide you through the process, there may be other payment options available based on your specific situation. Call us, toll free. Agents trained to handle your specific account are available:

(All times listed are Eastern Standard Time) Or visit our website for 24 hour payment options. Make sure you enter your payment code (Disc.).

This is an attempt to collect a debt and anv information obtained will be used for that purpose. This is a communication from a debt collector. Unless you notify this office within 30 days after receiving this notice that you dispute the validity of this debt or any portion thereof, this office will assume this debt is valid. lf you notify this office in writing within 30 days from receiving this notice, this office will: obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. lf you request this office in writing within 30 days after receiving this notice, this office will provide you the name and address of the original creditor, if different from the current creditor.

notice see reverse side for important information

This notice ("Notice") is being forwarded to you in compliance with the requirements of the Gramm-Leach-Bliley Privacy Act, 15 U.S.C. sec. 6801 et seq. and it has no reflection or bearing upon the status of your account. This Notice refers to the terms "Account Owner", "we", "us" or "our." This Notice describes our privacy policy and how we treat the information we receive about you.

Information We May Collect

We collect non-public personal information about you that is obtained from one or more of the following sources:

1. Information we received from companies that sold us your account (for example, applications and other related forms);
2. lnformation we received from consumer-reporting agencies and other third parties or sources permitted by the Fair Credit Reporting Act; and
3. Information we receive directly from you.

Information We May Share With Our Affiliates

As Account Owner, we may share identification information (such as name and address), information about our transactions and experiences with you (such as payment history), and information that does not identify you, with companies related to us by common control or ownership ("affiliates").

Information We May Share With Nonaffiliated Companies

We may share all of the information we collect about you, as described above, with nonaffiliated companies, as permitted by law. For example:

1. We may share information about you with companies that we use to perform account-servicing functions to manage and maintain your account and to process transactions that you have authorized; and
2. We may report information about you to consumer reporting agencies, government agencies in response to subpoenas, or others in connection with investigations.

Confidentiality and Security of your Account

We restrict access to nonpublic personal information about you to only those employees who need to know such information, and third party service providers who provide support services to us. We maintain physical, electronic and procedural safeguards to protect your personal information.

Additional Rights and Modifications

You may have other privacy protections under state or federal laws. This notice does not affect any rights or privacy protections provided by these laws. We may amend this Notice at any time, and will inform you of changes as required by law.

Please direct all inquiries in regard to this Notice.

Vermont Residents Only: Following the law of your state, we will not disclose nonpublic personal financial information about you to nonaffiliated third parties (other than as permitted by law) unless you authorize us to make that disclosure. Your authorization must be in writing. If you wish to authorize us to disclose your nonpublic personal financial information to nonaffiliated third parties, you may write to us.

In accordance with the Fair Debt Collection Practices Act (FDCPA): This is an attempt to collect a debt by a debt collector. Any information obtained will be used for that purpose.