This form is a sample letter in Word format covering the subject matter of the title of the form.
Settlement Offer Rejection Letter Sample With Collection Agency In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-0014LTR
Format:
Word;
Rich Text
Instant download
Description
Form popularity
FAQ
Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take.
Your creditors do not have to accept your offer of payment or freeze interest. If they continue to refuse what you are asking for, carry on making the payments you have offered anyway. Keep trying to persuade your creditors by writing to them again.
If you're behind on a large balance and try to send a smaller payment, the debt collector might reject it. That's especially true if the agency handling your debt has a policy against accepting anything less than a full payoff.
Tip for Drafting an Effective Settlement Letter Be concise. Your letter might be 20-30 pages long if your claim is complex. Be organized. Reread your letter to make sure you haven't said anything that the opposing party can twist around to use against you. Be polite and professional.
After a state-wide ballot initiative passed decisively in 2022, Arizona now has stronger protections against consumer debt collection, including from medical bills.
Statutes of Limitations for Each State (In Number of Years) StateWritten contractsOpen-ended accounts (including credit cards) Arizona 6 6 Arkansas 5 5 California 4 4 Colorado 6 647 more rows
Fair Debt Collection Practices Act (FDCPA) § 1692-1692p). Third-party debt collectors are prohibited from engaging in unfair, deceptive, or abusive practices while collecting these debts. Under the FDCPA, third-party debt collectors: may contact a person only between a.m. and p.m. at home or work.
Remember that you do not have to agree to their specific amount, and you can negotiate the debt down. Some debt collectors are willing to settle for 50% of what they say you owe. Others may want 75-80%. You can start with a low offer and work your way up from there.
This letter should clearly state the reasons for rejecting the offer, such as it not providing maximum compensation for the damages incurred. Provide specific reasons for your rejection, highlighting the damages and losses not covered by the proposed settlement.
