How to Settle Debt with Tek-Collect Inc

Tek-Collect Inc. will pursue you if you owe money to their clients. You can settle with them for less than you owe.

Debt settlement works when you cannot pay the full amount. Most collection agencies accept reduced payments if you prove financial hardship.

Creditors typically require a lump sum payment after accepting your offer. Any remaining balance must be paid quickly.

What is Tek-Collect Inc?

Tek-Collect Inc. is a third-party debt collection agency based in Columbus, Ohio. The company was incorporated on November 26, 2001.

BBB has accredited them since 2005. They collect debts for clients who have not received payments for 90-180 days.

After successful collection, their clients pay them a percentage. Here is their contact information:

• Physical address: 871 Park St, Columbus, OH 43215-1441
• Phone number: (866) 652-6500
• Website: tekcollect.com

Sometimes Tek-Collect buys debt from creditors at a discount. They purchase it for less than the original amount owed.

You might settle for as little as 30% of your original debt. For example, if you owe $1,000 and they bought it for $200, you could settle for $300-$400.

TekCollect Inc Reviews

Consumer reviews are mostly negative across major platforms. BBB shows a star rating of 1.15.

Birdeye rates them 1.7 stars. WalletHub gives them 2.5 stars, and Google Reviews shows 1 star.

Common complaints include:

• Difficulty reaching customer service representatives
• Inaccurate debt figures on credit reports
• No response when calling their phone number
• Failure to correct disputed or fraudulent debts

If they violate your rights under the Fair Debt Collection Practices Act, take action. Report them to the Consumer Financial Protection Bureau.

You can also file complaints with the Better Business Bureau and Federal Trade Commission. Your state attorney general’s office handles these complaints too.

How to Settle Debt with Tek-Collect Inc

Debt settlement has helped many consumers eliminate outstanding balances. You approach creditors and request a reduced payment amount.

Follow these steps to increase your chances of success.

1. Respond to TekCollect’s Lawsuit with an Answer

If Tek-Collect Inc. sues you, respond before requesting a settlement. The lawsuit includes a Complaint document listing allegations against you.

You must answer each claim with admit, deny, or deny for lack of knowledge. Our partner Solo can help you respond to debt collection lawsuits.

Include affirmative defenses explaining why you are not liable. Strong defenses can force Tek-Collect Inc. to withdraw their case.

Send your Answer document before your state’s deadline. Missing the deadline may result in a default judgment against you.

2. Make an Offer to Start Negotiations

After filing your Answer, calculate what you can afford to pay. You need a reasonable lump sum amount ready.

Start with an offer lower than what you can actually pay. Tek-Collect will counter, and you can adjust upward.

Debt collectors may accept 30-45% of the original debt. Others will not go below 80-90% of the balance.

Your evidence of financial hardship determines how low they will go. Document your inability to pay the full amount.

3. Get the Settlement Agreement in Writing

Debt collectors sometimes break their promises without documentation. Always get written confirmation of any agreement.

Provide them with a settlement agreement form to sign. Consider having two witnesses sign it as well.

Written agreements protect you from future disputes. Keep copies of all signed documents in your records.

Settle Your Debt Professionally

You can send professional settlement offers directly to collection agencies. Our partner Solo provides tools to negotiate settlements on your terms.

You maintain control throughout the entire negotiation process. No middleman decides what offer to make on your behalf.

Professional settlement tools increase your chances of acceptance. Creditors take formal offers more seriously than phone calls.