[Danielle]

… I have 2 old debts that are in collections since 2019 and want to write a letter to the collections agency (Portfolio Recovery) requesting a settlement.

1. Has anyone here initiated the request and were you successful?

2. If so, what did you include and/or not include in your letter?

3. What is a reasonable percentage to offer if the full amount isn’t possible for me to pay?

4. Should I request removal from my credit report in this letter?

5. Should I list both accounts in the one letter or write & send a separate letter for each account?

5. Any other tips/advice you can offer?

TIA!

[Karen]

Make sure you have at least $1,000 for back and forth offer. If you can pay them off you should because it really is debt you owe.

We had 3 many moons ago and they settled for 30-50%. Maybe start at offering to pay 25% , you might get lucky.

I also would not negotiate over mail but make a call to portfolio recovery.

As soon as you receive a letter stating the amount you settled for stating payment in full, only then send a money order that they have to sign to show they received the payment.

[Author]

Posts