Settle For less Negotiation Letter. Free Sample Credit Help Letter  Word / Text  


Debtor's Settlement Offer for Account No. [Account number]

I am aware that I owe a balance to your company. This letter is an offer to settle the debt for less because of my inability to pay the entire balance. Because of my financial circumstances, [deep in debt,
out of work, borrowing the money, insurance settlement with limited funds, considering bankruptcy, illness, loss of family member with income, etc. List your reason here as to why you are offering to
pay less.] I am only able to pay a portion of this debt.

I realize you may be motivated as well, because of the age of the debt and my financial crisis. Refusing to work with me will only make matters worse for both of us.

You claim the amount owed on the account is $________. Please accept this offer to settle this account under the following conditions ONLY:

The parties involved agree to settle the account in full for the sum of $__________ and this amount is accepted as full and final payment on said debt. Complete discharge and settlement of all monies
due will be created, provided that the amount agreed upon shall be paid in the following manner:

Payment terms: how debt will be paid, i.e., 10 payments of $200.00 on the 1st of each month after the execution of this agreement, three payments of $250.00 to be paid monthly on the 1st of each
month, etc.

Payment location: where you will send payment each month- full address.

Other terms: list arrangements made, such as, creditor agrees to freeze the account without any additional fees or interest added to the balance etc.

Credit reporting: list account status terms you are requesting such as “settled in full”, “settled for less”, “paid in full”, “deleted” etc.

Governing states: This agreement shall be binding under the laws of [list your state and the creditor’s state].

If your office agrees to this settlement, please send back confirmation on your company letterhead and signed by someone with the authority to accept such offers. Time is of the essence because of
my financial situation so please reply as soon as possible.

Kind regards,

Joe Consumer



Full Name___________________
Home Phone_________________
Work phone_________________












Settle For less Negotiation Letter. Free Sample Credit Help Letter



Improve Bad Credit Get good Credit Home

More free credit letters 

Free Sample Bad Credit Negotiation Letter for Creditors