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Debt Settlement Letter By Collection Agency
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Debt Settlement Letter to RGS Financial*

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After you receive a letter demanding payment on an outstanding credit account, the anxiety caused by the mounting personal financial issue can lead to you making one or more mistakes.

One of the mistakes a debt collection agency like RGS Financial wants you to make involves not understanding every option you have to deal with the delinquent consumer debt. Under a groundbreaking federal law, you have the right to dispute the alleged debt or invoke the statute of limitations mandated by your state.

You also can settle the debt by sending a letter to RGS Financial.

A debt settlement represents a legally binding agreement between a consumer and a third party debt collector. Terms of debt settlements typically allow consumers to pay a percentage of an entire debt.

Debt settlement agreements contain legal language that clearly states whether a consumer will send a lump sum payment or spread payments out over several months. For profit debt settlement companies offer consumers services that include writing professional debt settlement letters.

However, you are much better off hiring a licensed consumer protection lawyer to write a debt settlement letter to RGS financial.

Protect Your Rights by Hiring a Lawyer

Before September 22, 1977, consumers had little, if any legal recourse for dealing with aggressive bill collectors. After passage of the Fair Debt Collection Practices Act (FDCPA), the legal playing field leveled to give consumers a fighting chance against debt collection agencies.

The standard for consumer protection laws does not directly address debt settlement letters, but the federal law does grant consumers numerous legal protections that an experienced consumer protection lawyer will uphold.

The FDCPA prohibits third party debt collectors from using aggressive debt collection tactics, which includes threatening consumers with legal action. A bill collector like RGS Financial is not allowed to call you between the hours of 9pm and 8am.

The United States Congress also outlawed deceptive debt collection techniques, such as impersonating law enforcement in attempts to collect delinquent debts. Every violation of the FDCPA carries a financial penalty and you have the right to seek actual damages for enduring emotional duress.

Debt Settlement Letter to RGS Financial*

Example of a Debt Settlement Letter for RGS Financial

The debt settlement letter your FDCPA lawyer sends to RGS Financial will look something like the following sample letter:


Collection agency contact information

Name and number of outstanding credit account

To whom it may concern:

RGS Financial recently sent me a letter asking that I take care of a Bank of America personal loan account of $10,000. I have included a copy of the letter for reference.

Because I cannot afford to pay off the entire $10,000, I am sending this letter to request a debt settlement worth 50% of the original personal loan balance. If you agree to my proposed debt settlement, I would like to make monthly payments of $200 until the debt is fully paid off.

If you agree to my proposed debt settlement terms, please sign and date the bottom of this letter.


Your name


Never send a third party debt collector like RGS Financial any money until you receive confirmation of a debt settlement approval in the form of a signed and dated return letter.

Settling a consumer debt with a debt collection agency has far reaching implications, which include improving your credit score. Speak with a consumer protection lawyer to craft a persuasive debt settlement letter for RGS Financial.

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 RGS Financial or any other third-party collection agency, you may not be entitled to any compensation.

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