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Collection Settlement Letter

Collection agencies send a letter on behalf of another company for the settlement of the outstanding payment. They send the first letter of collection as a reminder for the due payment. When they receive a positive reply of the first letter of collection they send collection settlement letter in response to the debtor. It covers all the relevant information regarding the settlement of the outstanding payment including the date, payment structure, mode of payment, exact amount and so on.

It presents the final outcome of the consolidation or negotiation of the debt. It indicates all the terms and conditions of the settlement in simple and courteous tone. It also offers the entire possible manners to make the settlement easy for lender and debtor.

Sample Collection Settlement Letter

From

Mr. Allen Carter

Sure Collection Agency

45 North Street

Doodle Square

Carolina 5787

To

Mr. Nick Doe

D 61 Yankee Avenues

Filling Road

Carolina 5787

Date: 17th of February 2014

Subject: Settlement of Outstanding Credit Card Payment

Dear Mr. Doe,

This letter is to notify you about our confirmation to settle your outstanding payment that is $0000 for the credit card account number XX000. If we receive a full payment of amount $0000 from you in cash by 21 February 2014, we would settle the amount and provide you the receipt of the settlement.

You are requested to make the full payment within the given time frame to avoid any legal proceedings. You can send this payment to our office or allow us to send our executive to make collection.

Please inform us the convenient time to send our executive for the collection. You are required to fill the enclosed form of settlement and give it back to our executive with the outstanding amount. Once again I would like to remind you that we will receive the payment only in cash. Kindly feel free to contact us for further assistance.

Thank you.

Sincerely,

Allen Carter

Sure Collection Agency

Given Below are a few collection letter samples for a clearer Idea.

Bad Check Collection Letter
A bad check collection letter is generally written as a formal notification after receiving a bad check. It requests the sender to collect the bad check and promptly settle the payment with a valid one.

Bad Debt Collection Letter
Bad check collection letter serves as a final formal notice reminding about the nonpayment. This is usually written by the debt collection agency hired by another company.

Collection Letter for Dental Offices
Collection letter for dental offices is the best effort to motivate and encourage the patient to pay the outstanding amount promptly.

Collection Letter for Rent
Collection letter for rent is usually written by landlord to notify the tenant regarding the nonpayment of rent amount.

Final Notice Collection Letter
Final notice collection letter serves as a last formal notice regarding the due payment. This letter is usually sent after the two or three collection reminder letters.

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