Sign Agreement to Extend Debt Payment

How to eSign a document: Sign Debt Settlement Agreement Template online

hi there this is Michael Bovee with consumer recovery network.com and I want to continue on with an additional video in our debt settlement series and actually one of the most important ones what you have to do to actually document a settlement and make no mistake you absolutely have to have these settlements documented because they can come back to haunt you in a big way what happens when you negotiate and settle a debt we've talked about in Prior videos you have to do this over the phone you can't just send off a letter and expect the collection agency or the bank the collection attorney to respond to these things it's outside the norm they're not gonna do it they almost rarest rarest of exceptions so everything starts on the phone but what about when you've got it all worked out you've got this meeting of the minds the bank agrees the collection agency agrees to a certain amount and it's something you can do and afford you need to memorialize that in a letter and these are very common letters that these agencies collection banks attorneys they use them over and over and over again in fact it's a template and they just insert your particulars sometimes on the screen with your file it can click a button and generate a letter so they're very common and they have templated language some of that language is there to protect them and some of it's there to protect you there's some key items that you need to look for you need to be identified your account needs to be identified the terms meaning you don't have to show what you owed or the full balance necessarily but oftentimes that will appear but also you need to see that this is what they're agreeing to accept and that was dollars that dollar amount spelled out any terms for the payment so if it's spread out over any more than one lump sum payment like a two payments three payments even twelve payments that has to be in the document and the date with which that payment is due or the lump sum is going to be received and the fact that you are settling this debt but you're not paying it down you need some kind of verbage in these letters that says that you're paying this off that this is deemed settled that there is no remaining balance code behind me on one of the pages of the consumer recovery network.com website is a results page and we've put these up there there are about 20 of them if you click any one of these links you can see examples we've purposely put examples up there of settlements from debt collection agencies debt buyers banks and attorneys so you can see a mixture of what a settlement letter looks like we've sanitized them with our clients information on them so take a look at some of these...