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Debt Settlement Letter - CREDITOR: Bank of America

 
March 10, 2009
Client Savings: $13,002.17 (74%)
RE: Settlement Proposal
CREDITOR: BANK OF AMERICA
ACCOUNT: XXXXXXXX8958474
CURRENT BALANCE: $17,585.17
 

DEAR   ,

This letter confirms that ARS National Services, Inc. is duly authorized to accept $4583.00 as settlement-in-full of the above-referenced account. This settlement requires funds reach this office by March 11, 2009.

Bank of America may be required by law to report this settlement to one or more taxing authorities. The bank makes no representation about tax consequences this may have or any reporting requirements that may be imposed on the bank. You should consult independent tax counsel of your own choosing if you desire advice about any tax consequences which may result from this settlement.

Your payments must reach this office by the due dates or this offer will become null and void. To ensure your funds are received by the due date, Associated Recovery Systems accepts "Quick Check" by phone and Western Union "Quick Collect" (Code City: Ambridge, California).

Your returned check may be collected electronically if the check is returned for insufficient or uncollected funds. If your bank fails to honor your check, this offer will become null and void.

Sincerely,

Jose Calderon
Account Representative
(800) 232-1258 x1204

ASSOCIATED RECOVERY SYSTEMS
(A division of ARS National Services, Inc.)

THIS COMMUNICATION IS FROM A DEBT COLLECTOR.
THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE

 

Synopsis:

The above debt settlement letter from creditor, Bank of America represents a 26% debt settlement we reached for our client.  The creditor originally demanded from our client $17,585.17. However, our debt negotiation settled the debt with Bank of America for $4,583.00. Our client's debt settlement total savings was $13,002.17.

 
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