If you work for a bank, credit company, debt collection agency or medical facility, or own a business, you most likely need to collect debts. There are laws in place that regulate the process of debt collection, protecting the rights of both the debtor and the creditor. In addition, a professional and appropriate sample letter for collecting debt is a valuable tool in achieving debt settlement. These letters can vary greatly depending on the type of collection, as well as the time frame the debtor has to reach a settlement. But all such letters should clearly and simply communicate the desired settlement process while avoiding the appearance of being abusive or deceptive.
Type your name and/or business or company name at the top of the page, followed below by your address. Double-space and type the current date.
Double-space and type the debtor's information, including his name and the name of his business (if this is a business debt collection) and the corresponding address. Double-space and type your formal greeting, such as "Dear Mr./Mrs." and the debtor's last name.
Double-space again and type your first paragraph. The content of this paragraph will vary depending on many factors, including whether this is a first or final notification, the relationship (if any) between you the creditor and the debtor, and the type of debt you are referring to. However, the paragraph should clearly explain that you are contacting the debtor for the purpose of collecting a specific debt that is owed and most likely overdue. Be sure to refer to either the account number associated with the debt or mention the service received that has not yet been paid for.
Double-space and type the second paragraph, in which you will offer any possible payment plans or reductions. Let the debtor know that you are willing to work with her to resolve the debt. If this is a final notification, remind the debtor of your previous attempts at settlement and tell her she is receiving final notification.
Double-space again and type your closing paragraph. Express your desire to receive some form of return communication and/or payment, typically a phone call or letter. You may want to request a specific time frame in which to receive this communication and/or payment. If you feel it is necessary, inform the debtor of the next step in the process if he does not communicate or make payment, but avoid being rude.
Double-space; type your formal closing, such as "sincerely"; and type your full name, title and phone number. After printing, you may sign the document, although it is not necessary for legal purposes.