You have several options to consider for handling attempts by Rash Curtis &Associate to collect the outstanding balance on a credit card or personal loan account. One of the options involves sending the debt collection agency a debt settlement letter.
Why would you want to settle the delinquent debt? For starters, you can settle for much less than what you owe. You also will benefit by not receiving a negative hit on your credit score. You want the account to read “paid in full” or “closed by request of consumer” on your credit report.
After you send Rash Curtis & Associates an offer, you want to establish a timeline that clearly defines the number of days the third party debt collector has to contact you about the offer.
You also want in writing the debt settlement provisions agreed to in writing, as well as confirmation the bill collector considers the debt paid in full upon reception of a check or money order. Do not send payment to settle a debt until Rash Curtis & Associates agrees to the debt settlement terms in writing.
Why You Should Hire a Lawyer
By working with a licensed consumer protection lawyer, you propose a reasonable debt settlement request to Rash Curtis & Associates. Although some debt collection agencies settle consumer debts by accepting a lump sum payment as low as 25% of the balance, you can expect Rash Curtis & Associates to ask for much more money to close the account.
After examining your financial records, a consumer protection lawyer will determine the right amount of money to request in a debt settlement letter. Your lawyer will also know how to time the letter to prevent a bill collector from gaining the legal upper hand.
Dealing with a debt collection agency also requires you to understand how the Fair Debt Collection Practices Act (FDCPA) works. An experienced FDCPA lawyer might opt to file a civil lawsuit to make a third party debt collector pay for violating one or more provisions of the groundbreaking federal law.
Monetary damages allowed by the FDCPA are limited to $1,000 per violation. However, your lawyer can request money for actual damages, such as emotional duress caused by the actions of a debt collection agency.
Actual Sample Letter to Rash Curtis & Associates
Although no two debt settlement letters read alike, the letter your FDCPA lawyer drafts will include common information. Here is a sample debt settlement letter that covers all the legal bases:
- Name of Collection Agency
- City, State, Zip Code
- Account Number
To whom it may concern:
I recently received a letter from your debt collection agency requesting I pay $11,483 owed on a credit card account I had with Macy’s I have attached a copy of the letter you sent me for your reference.
After a thorough review conducted by my FDCPA lawyer, I have concluded that I am unable to pay the full amount owed to Macy’s. I propose that I settle the outstanding debt by sending your debt collection agency a lump sum payment of $5,000.
If you agree to the debt settlement terms my lawyer and I propose, please sign and date the letter, and then return it to me at the address listed below. After receiving the signed and dated letter, I will send you a personal check for $5,000.
Drafting an effective debt settlement letter requires the experienced hand of an accomplished consumer protection lawyer. Speak with a FDCPA lawyer today to determine whether you should send a debt settlement letter to Rash Curtis & Associates.
*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 Rash Curtis & Associates or any other third-party collection agency, you may not be entitled to any compensation.