Download Debt.com’s settlement offer template ». They have five days to do so under the Fair Debt Collection Practices Act (FDCPA). And you know that you may have a problem and it may be part of the reason for the bounced check. Developed by industry leader Ben Ricci, the following five collection letter samples have proven to boost collection rates by up to 40%. Sample Letter For Disputing A Debt Collection Notice ... Below is a sample, fill-in-the-blank letter that you can use as a guide for disputing a debt with a collector. And it makes a good strong demand. Now, a final demand letter is really much more effective in writing in terms of calling somebody and verbalizing a final demand. This template letter makes an initial debt settlement offer to a third-party debt collector. You basically inform your customer that you will at your option–which gives you an out if you don’t go through with it–report the discharged debt to the IRS as debt cancellation income. You also need to provide a statement that you're requesting validation of the debt. We have prepared your invoice; therefore, payment is due [30 days from date of invoice]. The demand letter from attorney is an official notice, at the request of their client, to have something returned, paid, or for requested action. It keeps companies from contacting you again until they can prove that they own the debt and that you really owe the debt. A debt collection letter is a notification a creditor sends to their debtors to inform them of an impending debt and consequences of not repaying the debt in time. Sign up for our newsletter to get the latest articles, financial tips, tools, giveaways and advice delivered right to your inbox. If you look at the last paragraph where you’re telling them all these nasty things you’re going to do to them if they don’t pay but then it gives them a chance to avoid these nasty things like, “We’re not going to report you to the major credit bureaus and affect your business credit rating if you pay this bill.” and things of that nature. Collection letter from an attorney. Download Now the Before Action Collection Letter Sample, You can legally get the IRS to help you combat delinquencies, and this guide reveals how. Editor's Note: This article originally appeared on Consumerist. Never ask for a post-dated check in response to a customer who “won’t have the check for two weeks.” In many states, the criminal provisions regarding bad checks do not apply to post-dated checks…. Explain the repercussions of not paying the balance immediately. "What Is a Statue of Limitations On a Debt?" Start right now by downloading each one of these letter guide tutorials and sample letters today. No business owner should have to spend that much time getting a customer to pay for a product or service that they provided for that customer. 2. Do not admit to owing the debt or make any reference to payment.