Here is an average settlement for 48% of the clients existing balance. You will find settlements from as low as 12.75% in these actual letters.
"This letter will serve as confirmation we will accept the sum of $926.48 as settlement in full on the above referenced closed account. If payment is not received within the required time(s), or your check(s) do not clear, this offer will be null and void. Your payments are due as follows and should be completed via check-by phone:
- $308.83-Due April 28, 2006
- $308.83 - Due May 28, 2006
- $308.83 - Due June 28, 2006
Once the funds dear and the proceeds are applied to your account, your account will be considered satisfied and closed. Your account will be reported to the national consumer reporting agencies as ''account paid in full for less than the full balance." Please be advised that due to processing time, interest and fees will continue to accrue pursuant to the terms and conditions of your cardmember agreement up to forty-five (45) days after the final payment has been received. Any remaining balance on your account may be reported to the Internal Revenue Service as a discharged debt. If an amount greater than the agreed to settlement offer is paid, it will not entitle you to a refund unless the amount exceed? The actual balance owing including interest and fees."
