I received the letter as follows, please let me know if this is typical for FS, and if you have settled with them under these terms successfully with no issue.
it states the date, creditor, ref#, last 4 digits of @mex account, and balance
In regards to your @mex acct.
In our phone conversation today, you requested written confirmation of your agreement to settle the above account. This letter, therefore, confirms that, as settlement you have agreed to make three payments to this office in the total amount of $xxxx.xx, with the first payment of $xxxx.xx due on or before /date/, and the second payment of $xxxx.xx due on or before /date, and the third payment of $xxxx.xx due on or before /date/. Upon receipt and clearance of your payments as agreed, we will notify our client to update its records accordingly regarding this settlement.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.