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Settle Debt with Tek-Collect Inc

Dena Standley | April 23, 2024

Dena Standley
Legal Expert, Paralegal
Dena Standley, BA

Dena Standley is a seasoned paralegal with more than 20 years of experience in legal research and writing, having received a certification as a Legal Assistant/Paralegal from Southern Technical College.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Summary: Tek-Collect Inc. will pursue you if you have debt with one of their clients. However, if you owe a genuine debt, you may be able to settle with them for less than you owe. SoloSettle allows you to approach them with a professional yet convincing settlement offer.

Settling debt is an excellent way to manage your debt situation if you do not have enough money to pay all your debts in full. Like most debt collection agencies, Tek-Collect Inc. accepts debt settlement offers if you can prove that you do not have the ability to pay the debt in its entirety.

Creditors often accept settlement offers after negotiation, but they require you to pay a lump sum after signing the agreement. If there is a remaining balance, it should be paid within the shortest time possible. Today, we will explore the debt settlement process and suggest the easiest way to settle your debt with Tek-Collect Inc. Before that, let's consider Tek-Collect Inc. reviews and what they are all about.

What is Tek-Collect Inc?

Tek-Collect Inc. is a legitimate third-party debt collection agency based in Columbus, Ohio. The business started and was incorporated on 11/26/2001 and has been accredited by BBB since 2005.

Tek-Collect Inc. helps their clients get the money owed by consumers who defaulted on their payments for more than 90–180 days. After they succeed in getting the money, their clients pay them a certain percentage of the total collected. The following is their contact information:

  • Physical address: 871 Park St, Columbus, OH 43215-1441
  • Tek Collect Inc phone number: (866) 652-6500
  • Website
  • BBB profile

In some situations, Tek-Collect buys the debt from creditors for a smaller percentage than what was owed and tries to collect it at its original amount. In such situations, you can get a settlement offer for as little as 30% of what you originally owed. For example, if you owe a creditor $1,000 and they sell the debt to TekCollect for $200, you can get a settlement deal of between $300 and $400.

TekCollect Inc reviews

Consumers have had both positive and negative things to say about TekCollect. However, most major platforms list overwhelmingly negative reviews from consumers who’ve had a negative experience with TekCollect. For example, they have a star rating of 1.15 in their BBB profile, 1.7 from Birdeye, 2.5 from WalletHub, and 1 from Google Reviews. The complaints listed are failure to get someone to help them with their debt situation, inaccurate debt figures on their reports, non-response when calling TekCollect Inc.'s phone number, and failure to correct disputed or fraudulent debt. Here is a screenshot of complaints from WalletHub.

If your rights have been violated under the Fair Debt Collection Practises Act, report them to the Consumer Financial Protection Bureau, Better Business Bureau, and Fair Trade Commission. The attorney general's office in your state also addresses such complaints and can communicate with Tek-Collect Inc. to rectify the error.

How to settle debt with Tek-Collect Inc

Many consumers have gotten out of debt using various debt relief programs, including debt settlement. Debt settlement entails approaching creditors, in this case, Tek-Collect Inc., and asking them to accept a payment that is less than what you owe. Follow these steps to increase your chances of getting a great deal.

1. Respond to TekCollect’s debt lawsuit with an Answer

If Tek-Collect Inc. has sued you, the first step before asking for a settlement is to respond to the lawsuit. Within the letter, you will see a Complaint document that lists all the allegations Tek-Collect Inc. has against you. You must answer with either deny, admit, or deny for lack of knowledge for each claim listed.

Afterward, you must list your affirmative defenses that explain why you are not responsible for the debt and, if you are, why you should not pay it as it is. The affirmative defenses you use can force Tek-Collect Inc. to withdraw the case and accept to settle. Remember to send the Answer document before the deadline in your state, or Tek-Collect Inc. may receive a court ruling in their favor if you file late.

2. Make an offer to start negotiations

After sending the Answer document, you can now strategize on how you will make an offer to Tek-Collect Inc. Before drafting your offer, first calculate what percentage of the debt amount you are able to gather to pay Tek-Collect Inc. You should have a reasonable amount because Tek-Collect Inc. will only accept your offer if you agree to make a lump sum payment.

After you establish how much you can pay, approach them with a settlement offer, but make the offer less than the amount you can afford to pay. TekCollect will come with a counteroffer, and you need to be able to adjust your offer upwards. Debt collectors can accept an offer as low as 30%-45%, while others won’t agree to go below 80%-90%. Often, the reasons and evidence you give showing your inability to pay the whole amount will determine how low they will go.

3. Get the settlement agreement in writing

Debt collectors are known to go back on their word if you do not put everything in writing. After you agree, offer them a settlement agreement form to sign. You may also need to have two witnesses sign it to address any loopholes they may exploit. Use this sample settlement agreement as a guide.

Settle with SoloSettle

Make an Offer

SoloSettle is the simplest way to settle your debt

Unlike other debt settlement companies that want to control the entire settlement process, SoloSettle is different. It is an online tool that allows you to send a professional debt settlement offer to creditors or debt collection agencies. The app enables you to stay in control of the negotiation process. You do not have to worry about what the agent in charge of your debt says to the creditor or what offer they make.

To learn more about how to settle debt with the help of SoloSettle, check out this video:

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