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Debt Settlement Letter By Collection Agency
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Debt Settlement Letter to Atlantic Credit & Finance*

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Years have passed since you made a payment on a credit card account. One day, you receive a letter from a debt collection agency demanding you pay off the entire balance of the outstanding credit card, as well as the interest and late fees that have accrued since the account closed.

You do not have the money to take care of the delinquent credit account, but you want to remove the financial blemish from your credit report. How do you pay off a credit card account, without having to pay off the entire balance?

You propose a debt settlement in a letter crafted by a licensed consumer protection lawyer.

Why Hiring a FDCPA Lawyer Makes Sense

Hiring an experienced consumer protection lawyer makes sense for several reasons. First, your lawyer will propose a debt settlement amount that you can afford, as well as appease Atlantic Credit & Finance enough to accept the terms of the debt settlement.

Second, a consumer protection lawyer will know every legal deadline mandated by state and federal law that governs the debt settlement process. Finally, and most important, by hiring an experienced consumer protection lawyer, you receive the full protection of a landmark federal law called the Fair Debt Collection Practices Act (FDCPA).

Enacted by the United States Congress on September 20, 1977, the FDCPA mandates third party debt collectors to provide full disclosure when attempting to collect outstanding credit card and personal loan accounts.

Bill collectors must also present consumers with evidence an alleged debt exits and inform consumers they have 30 days to dispute the validity of a delinquent debt.

The FDCPA contains several provisions that prohibit original creditors and debt collection agencies from using aggressive debt collection tactics, such as using abusive language and/or issuing any type of threat. Any violation of the FDCPA is legal cause for your lawyer to file a lawsuit against a third party debt collector to seek financial damages.

Debt Settlement Letter to Atlantic Credit & Finance*

Actual Sample Letter for Atlantic Credit & Finance

Your debt settlement letter to Atlantic Credit & Finance will request the bill collector to accept a percentage of what you owe on a credit card or personal loan account. Although the percentage can be as low as 25%, you should expect to pay off at least 50% of the original debt.

The letter will contain the contact information of the debt collection agency, as well as the name and number of the delinquent account, as the top of the letter.

You should propose a debt settlement term, but not reveal why you cannot afford to take care of the entire credit card or personal loan balance. Never offer any information unless it is requested by a representative from Atlantic Credit & Finance.

Debt collection agencies would rather receive a part of an entire credit card or personal balance than receive nothing at all. Moreover, make sure the third party debt collector signs and dates the return letter confirming acceptance of your debt settlement terms.

Debt collection agencies such as Atlantic Credit & Finance come to the negotiating table with experienced lawyers. Level the legal playing field against the bill collector by speaking with a highly rated FDCPA lawyer today.

Additional Resources

*Disclaimer: The content of this article serves only to provide information and should not be constructed as legal advice. If you file a claim against Atlantic Credit & Finance or any other third-party collection agency, you may not be entitled to any compensation.

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