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Sample Debt Settlement Letter -- $3,169 Saved!

Collection agencies usually work on a commission basis. They receive assignments to collect on delinquent accounts and then keep a piece of whatever they collect. Since the only way collection agencies can make money is to work out deals, they settle accounts for 50% or less on a routine basis. In this example, the client negotiated a 45% settlement on a debt balance of $5,763, which resulted in a savings of $3,169. There is simply no reason to be afraid of dealing with collection agencies, and their involvement can actually help in some cases. There are numerous websites and so-called "experts" that tell you to never settle an account with a third-party collection agency. What nonsense! There is a legitimate need for the collection industry to exist, and I personally have nothing against most of the companies doing business in this industry. Sure, there are bad actors as with any industry, and some agencies should be avoided for that reason. But the important thing is to get your debts RESOLVED, and settling with a collection agency is one way to accomplish that goal.

Note: The image file below is a scanned reproduction of a faxed original. The client's name, address, and account information have been deleted to protect their privacy. No other alterations have been made in any way to the originals or the digital images.


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Sample Debt Settlement Letter - 45% Collection Agency Settlement Negotiated by Client

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Charles Phelan

Charles J. Phelan has been helping people become debt-free without bankruptcy since 1997. A former executive in the debt settlement industry, he teaches the do-it-yourself method of debt negotiation. Audio-CD material plus expert personal coaching helps consumers achieve professional results at a fraction of the cost.
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How to Eliminate Your Debts Quickly and Safely Without Filing Bankruptcy

Confused by all the conflicting deft relief information on the Internet? ZipDebt's 32-page consumer debt guide has helped *tens of thousands* of people understand their options and avoid getting ripped off by shady debt companies.

Free Download

 

$100,000 in Credit Card Debt: Financial Survival Tactics for High-Balance Debtors & Small Business Owners

If you're in deep, this is the information you're looking for. Learn why individuals and small business owners seeking to reduce very high levels of unsecured debt MUST USE DIFFERENT TACTICS than the average consumer with $10,000 to $30,000 of debt.

Free Download