The above settlement is below our average. You can see that Bank of America settled with us for 35.6% of the existing balance. It shows Bank of America accepting $6,300 on a $17,695.28 balance. Our usual settlement is between 40 and 60 percent of the balance.
“We are offering you a an excellent opportunity to settle your Bank of America account for the amount shown above and void further collections efforts. The opportunity to take advantage of this offer will expire 10 days from the date of this letter. Please send the above referenced payment to Bank of America, PO Box 60069, City of Industry, CA 91716-0069.
It is important that you act quickly. If we do not hear from you within the allotted time, your account may be referred to a collection agency or an attorney for possible suit.
Please make your check or money order out to Bank of America, and include your account number to ensure proper credit. Upon receipt of the payment, your account will be considered settled and will be reported to the credit bureaus to indicate “Settled for Less than the Full balance.”
