A letter arrives from Delta Outsource Group that requests you settle a long forgotten outstanding debt. The decision you make on how to handle the letter and subsequent phone calls will determine if the debt collection agency is successful in getting you to take care of the alleged credit card balance.
You can ignore the letter from Delta Outsource Group, but several other options are much better alternatives than tossing the third party debt collector letter into a trash can. You can dispute the alleged debt, claim the statutes of limitations has expired, or send Delta Outsource Group a debt settlement letter.
Settling a delinquent consumer debt represents a formal agreement made between a consumer and a bill collector. Debt settlements typically involve debtors paying less than what is owed for the entire credit card or personal loan balance.
You can send a lump sum payment or agree to spread out payments over multiple months to fit within the family budget. Although for profit debt settlement companies offer services to help consumers arrange debt settlement agreements with debt collection agencies, you should consider working with a licensed consumer protection lawyer to receive the most favorable terms.
Hire a Lawyer to Negotiate with Delta Outsource Group
You need to hire an experienced lawyer to deal with a third party debt collector such as Delta Outsource Group, but not just any lawyer. A consumer protection lawyer that has successfully argued cases under the landmark Fair Debt Collection Practices Act (FDCPA) ensures you enjoy all the protections granted by the 1977 federal consumer protection law.
For example, the FDCPA requires bill collectors to inform consumers about their identities, as well as explain consumers have 30 days to contest the validity of an alleged credit card or personal loan balance. In addition, the FDCPA prohibits aggressive debt collection agency tactics, which include using abusive language and making threats to file a lawsuit to collect a delinquent consumer debt.
Example of a Debt Settlement Letter
Although there is not one correct way to write and send a debt settlement letter, most FDCPA lawyers will use something similar to the following format.
Contact information for debt collection agency
Account name and number
To whom it may concern:
Your company recently mailed me a letter demanding that I payoff the entire balance of a personal loan account worth $2,400. I have attached a copy of the letter your debt collection agency sent me.
After speaking with my FDCPA lawyer, I counter your demand that I pay off the full personal loan balance with a settlement proposal that I pay two-thirds of the debt in question. If you agree to my debt settlement proposal, I will immediately send you a check for $1,600 to take care of this matter.
Please sign and date the bottom of this letter to verify you agree to my debt settlement proposal.
Remember not to send Delta Outsource Group any money until the bill collector has signed and dated the debt settlement letter. Adding the date to the letter is important, as it establishes a timeline for events covered by FDCPA provisions.
Do not allow Delta Outsource Group gain the upper hand in a debt settlement negotiation. Speak with a lawyer today to ensure you receive all the legal protections granted by the FDCPA.
*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 Delta Outsource Group or any other third-party collection agency, you may not be entitled to any compensation.