Fair Debt Collection
Have you recently settled a debt and are searching for a paid in full letter? Good news, we’ve got two free sample form letters below. But there are some things you should know before you send a letter, including whether you might be entitled to a refund or cash back. How? Keep reading.
First, debt collection and credit reporting–you know, the sort of activities that coerce consumers into paying debts–often violate must know consumer rights like the Fair Debt Collection Practices Act and Fair Credit Reporting Act. And when these rights are violated you can be entitled to a cash award plus no cost attorney representation.
For example, and quite often, additional fees and interest charges are added after you’ve sent in your final payment; doing so can violate the FDCPA. If this happens to you, don’t pay more than the agreed upon amount without first seeing if the collector’s demand you pay more is even legal.
Another problem many consumers face after paying a debt is not having their credit report properly updated to reflect the debt is no longer due. Sometimes credit reports are not updated at all, and other times they are incorrectly updated. Either way, you won’t get the credit rating bump you deserve and have earned by paying the debt. After you pay the debt get a free copy of your credit report and if there are any inaccuracies at all, get a free no obligation Fair Credit case review, you could be entitled large money damages.
If a debt collector insists you still owe a debt that has been paid in full, your credit report isn’t accurately updated, or if you believe you are a victim of any other illegal or unfair debt collection or credit reporting practices, submit your information to FREE* Fair Debt and Fair Credit Lawyers by:
- Clicking here for a FREE* Case Review;
- Calling toll free 888-FDCPA-LAW (888-332-7252);
- Clicking here to locate a FREE* Consumer Lawyer.
You might be entitled to statutory damages of up to $2,000, plus any actual damages suffered, plus attorney fees!
Two sample paid in full form letters are below, use the first or second letter below depending on which scenario fits your situation. The letters should be sent to collectors via return receipt requested anytime you pay a debt.
Sample Paid in Full Letter Informing Collectors of Your Final Payment. . Although your letter should demand confirmation from the bill collector or collection agency that the debt is paid in full, collectors often don’t respond to such requests so be sure to keep a copy to serve as proof you paid off the debt.
Paid in Full Letter–Final PaymentToday’s Date Your Name Attention: {name of collector} Account Number: {account or reference number} Dear Mr. /Ms. {Collector’s Name or Collection Agency’s name} You’ll find my final payment on the above referenced account enclosed. I request written confirmation showing this account as {paid in full or settled} according to our agreement on {insert date of agreement}. However, should you choose not you provide me with confirmation, I will use your acceptance of this final payment as proof that you agree the account is {paid in full or settled}. Now that this debt is paid, I do not expect to hear from you except to confirm the account is paid. I will consider any other contact from you or you company as harassment and will immediately report your actions to my State Attorney General and to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Finally, I expect you to remove this account and all references to my personal information from your records. Signature just above printed name |
Previously settled debt letter.
Previously Settled Debt LetterToday’s Date Your Name Attention: {name of collector if known} RE: Collection letter dated {date of letter here} or phone call on {date of call here} reference account #: {account or reference number} Dear Mr. /Ms. {Collector’s Name of name of Collection Agency} This letter is to inform you that the account in question was settled on [insert date] with [insert name of collection agency]. I have enclosed copies of the settlement letter and proof of payment. You now have proof that this debt is no longer collectable, therefore I demand that you remove this account, and all references to my personal information, from your records. I do not expect to hear from you again regarding this matter however, should you choose to ignore this notification, I will consider any contact not in accordance with the Fair Debt Collection Act, a serious violation of the law and will immediately report any violations to my State Attorney General and to the Federal Trade Commission and, should it become necessary, take legal action to protect my myself.
Signature |