Allied International Credit - Sample Letter

RE: Barclays Bank
Account No.: 5140217999022346
Reference No.: 5949121
Current Amount Due: $1,583.73

“Please allow this letter to serve as formal notifications of our assignment of the above referenced account being placed for collections. On behalf of Barclays Bank this letter serves as representation of the current balance due, and of the arrangement that we have made for resolution.

Per our telephone conversation, we have agreed to accept $712.67 as Settlement in Full towards your account. As discussed a two month payment arrangement has been established to allow you to make this payment. All payments are to be done via electronic funds transfer.

PAYMENT SCHEDULE:
1. $554.30 is due on or before 08/28/08
2. $158.37 is due on or before 9/30/08

If this arrangement is not honored within the parameters specified, the offer will become void. AT that time the full balance of $1,583.73, and any returned items of previously posted funds, will come due immediately.

Upon clearance of funds and completion of this arrangement your account with this office and its client will be Settled In Full. Please allow 90 days for Barclays Bank to update your credit profile to the appropriate status. IF after 90 days your credit profile does not reflect the accurate status please contact Barclays Bank.

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

Sincerely,

Tony Miles
Colelctions Manager