Saddled with one of more debts can take a toll on the stoutest of consumers. Constant letters and phone calls from a debt collection agency like DCM services ramps up anxiety to the point of producing considerable stress.
You feel like you are backed into a corner and there is no way out. However, you can propose a settlement to DCM Services that eliminates the outstanding credit card or personal loan balance from your credit report.
Debt settlements typically represent agreements reached between consumers and third party debt collectors, although original creditors can also accept debt settlement proposals. Debt settlement terms allow consumers to pay off delinquent debts at a fraction of the amount of the original debt amount.
Bill collectors accept less money because as the old adage goes, some money is better than no money. If you decide to settle an outstanding credit card or personal loan balance, you should consider hiring a licensed consumer protection lawyer to ensure the letter persuades DCM Services to accept the proposed debt settlement terms.
Reasons to Hire a Lawyer to Write a Debt Settlement Letter
An experienced consumer protection lawyer can help you write a persuasive debt settlement letter for DCM Services. Far too many consumers allow their emotions taint the message of a debt settlement letter.
You lawyer will clearly explain your proposed debt settlement terms, without using emotionally charged language that motivates DCM Services to come after you with more motivation to collect the delinquent debt in full.
Moreover, experienced consumer protection lawyers know how to the sending of debt settlement letters to achieve optimal effectiveness.
Your lawyer will also make sure DCM Services does not violate any of the consumer protection provisions written into the ground breaking Fair Debt Collection Practices Act (FDCPA).
The FDCPA prohibits third party debt collectors from harassing consumers, as well as implementing deceptive debt collection techniques. By hiring an experienced FDCPA lawyer, you demonstrate to DCM Services that you are serious about protecting your legal rights.
If a bill collector violates one or more provisions of the FDCPA, your lawyer will file a lawsuit to seek monetary damages for each FDCPA violation.
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Actual Debt Settlement Letter
Although no two debt settlement letters are identical, each debt settlement letter sent to a debt collection agency such as DCM Services includes similar language. The top of the letter should present the date of the debt settlement letter, as well as your complete contact information and the account name and number.
Within the heart of the letter, your lawyer will propose the amount of the debt settlement and emphasize that the amount proposed is all you can afford. You do not have to explain to DCM Services why you can afford only the amount proposed in the debt settlement letter.
You might ask “Why would DCM Services” accept less money? The answer is most debt collection agencies operate on the principle that settling for less money is a much better option that you filing for bankruptcy.
Some bill collectors settle consumer debts for as little as 25% of the amount of the original debt. However, you should expect to pay at least 50% of the original debt, if you want a debt collection agency to take your proposed debt settlement seriously.
Contact a consumer protection lawyer to learn more about how the FDCPA prohibits third party debt collectors from implementing unethical debt collection practices.
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 DCM Services or any other third-party collection agency, you may not be entitled to any compensation.