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Help with letter to collection agency - Settle now or I elect arbitration

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Hello All,

I have 2 collections on my credit report. 

Item 1 is 727 and the other is around 800.

I'd like to offer the collection agency x percentage to settle the accounts.

How should I craft a letter that states? Also what percentage should I offer? 

"Here is my offer and/or I'd also like to request arbitration please pay my filing fee"

 

 

Thanks


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