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How to Settle an Overdue Debt

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  • 08-22-2013, 06:38 PM
    melw365
    How to Settle an Overdue Debt
    My question involves collection proceedings in the State of: New York

    Hi
    Any advice on approaching a debt collector (ASSET ACCEPTANCE LLC) about a judgement that I would like to settle. Should I call or send a registered letter and should I approach with an amount?

    Any advice would be appreciated.

    Thanks
  • 08-24-2013, 10:31 AM
    Mr. Knowitall
    Re: How to Settle an Overdue Debt
    I don't see any point in spending money to certify your letter. The fact that they receive it doesn't mean that they have to do anything more with it than drop it in the circular file.

    Do you actually know who you are trying to contact? A "to whom it may concern" letter sent to a general address may well also end up in the circular file.
  • 08-24-2013, 10:58 AM
    adjusterjack
    Re: How to Settle an Overdue Debt
    Quote:

    Quoting melw365
    View Post
    Any advice on approaching a debt collector (ASSET ACCEPTANCE LLC) about a judgement that I would like to settle.

    Depends on what you mean by "settle."

    Do you have 60% to 80% of the balance in cash to offer?

    If not, then what is it you plan on offering?

    Quote:

    Quoting melw365
    View Post
    Should I call or send a registered letter and should I approach with an amount?

    I'd go with a phone call with the offer. But then make sure you get any agreement in writing before you turn over the money. Keep good written records forever.
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