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"Effectively, the letter should contain the terms you are proposing, including what you're willing to settle the debt for in exchange for the collection agency removing the past due account ...

Key Points An unpaid debt could damage your credit score. It’s common for debts to be turned over to collection agencies ...

Never share sensitive personal information with unverified ... Here’s what you can do if you receive a debt collection text, call, email or letter: Staying ahead of scams is the best way to ...

A consumer debt is a debt incurred by an individual primarily for personal, family ... postcard or use any language or symbols on the envelope or letter or telegram that indicates it is for collection ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal ... on a $5,000 debt and a collection agency ...