Posted by pjc on 4/30/07 11:17pm
Msg #188192

Colony Mortgage Lenders

in Glendale, Ca. I filed a complaint with the Better Business Bur. regarding non-payment. Has this avenue worked for anyone? Don't know what else to do??!! Thanks, Patti

Reply by Becca_FL on 5/1/07 12:34am
Msg #188200

Patti,

I have a great collection letter that is geared towards lenders. Email me and I'll send you a copy. It IS harsh, but it gets the job done.

FYI - You must have stones to use this letter.

Reply by Kevin/Ct on 5/1/07 4:43am
Msg #188212

I have been doing collections for 22 years. In most contract collection cases a demand letter is required as a precondition to initiating litigation. I have found that the most effective demand letter is not necessarily threatening, but rather short...to the point...and explains in a matter of fact manner that litigation is about to commence if payment is not received within the time period stated in the demand letter.

Demand letters heavily laced with threats only communicate the drafters' frustration with nonpayment, and suggest that he/she is not likely to follow through with the necessary litigation.

A cold, dispassionate statement of fact is often more threatening. It also does not open the door to a countersuit.