The Last Demand is a pre-collection service that provides a professional Final Notice to debtors. This notice is used as a tool for amicable resolution between the original creditor and the debtor. This service provides a “last opportunity to pay” for debtors before their unresolved account is sent to debt recovery services for a full collection campaign and subject to credit reporting and additional fees.
By disputing the debt, a notice will be sent to the original creditor to validate the claim and your account will be placed on a dispute status, temporarily halting the expiration date. You will be required to submit validating documents to verify the debt is not yours and you can request validating documents from the original creditor to verify the debt is yours. Once your claim has been deemed valid or invalid, the expiration countdown will either discontinue or resume from the point of when the claim was disputed.
If a partial payment is made and the account expires, the remaining balance will rollover to a collection agency and become subject to recovery efforts from it.
Once your pre-collection account expires, the remaining balance will be transferred to a licensed collection agency and become subject to recovery efforts from it. The implications of this transfer results in your account being subject to additional fees, legal assistance, and/or official credit reporting.
