Who says you can't settle with Collection Agencies?
Here is a great example of a 30% settlement made with a Collection Agency. The client paid only $4,514 against a debt balance of $15,044, and saved a whopping $10,530. As you can see, it's not necessary to be a professional negotiator to achieve these results. While 30% deals are less common than 40% to 50%, this letter is proof that it's certainly possible to work with Collection Agencies to settle your accounts. Bear in mind that this account was past the point of "charge-off" by the original creditor, who then assigned the debt for collection activity to this organization. Even at this late stage, the creditor still wanted to cut their losses and get what they could for the account. Would a third-party settlement company have achieved the same deal? Perhaps. But they would have charged more than $2,250 to do so.
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.
