This letter represents a 50% settlement. This means that the client paid only half of what they actually owed on the debt. Our average settlement ranges between 40 and 60 percent, which is illustrated by this particular settlement.
"We are pleased we found a settlement that works for you. This letter confirms that we agreed to settle your credit card account for $8588.19. As a result of this settlement, you will benefit from all these advantages:
You will only pay $8588.19, a significant savings over the full balance. We will stop all attempts to collect. Upon conclusion of the settlement, we will report your account to the national credit bureaus as settled with a remaining balance due of zero (0.00).
The total settlement amount must be received within the agreed timeframe. If you do not complete your settlement arrangement on time, this agreement will become null and void. We will continue our collection efforts."
