Writing debt settlement letters? What to include? Anyone have a “mock” letter?

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I’ve asked questions regarding debt settlement a few times. As some of you know, one of my friends is going to through this process and asking me for advice. I know very little, so I turn here for some help. :o) Here is my question and scenario…

She wants to make an offer to the credit card company, so she is going to send a letter in writing and have them respond in writing. What should her letter include?! I have no idea. Maybe something similar to the below? Or, is more needed? THANK YOU!

Credit Card Company,

In regards to account #### for HER NAME, I am willing to offer you $ XXXX.XX as payment in full. If this amount in accepted, the debt will be settled and account closed.

Please respond in writing and upon receipt (if the offer is accepted), I will mail you a money order for that amount.

Thank you,

1 Comment
  1. Reply
    Ivan G
    November 10, 2011 at 3:56 pm

    here you go:

    Your Name
    Your Address
    Your Phone #

    Creditor’s Name
    Creditor’s Address

    Dear Creditor,
    Re: Account Number__________

    After a long period of financial crisis, I’m finally in a position where I can take care of my debt whose account number is given above. I would appreciate in advance all efforts your company is willing to take in order to help me resolve my debt problems. I’m sincerely trying to settle this debt and pay it off faster.

    The amount I would propose to pay towards full settlement of the debt is $ ___________. Additionally, I would request you to take off any late payment or charge-off on this account from my credit report.

    The fact is, I’m currently negotiating debt with several creditors and I have limited amount of money to pay the creditors. So, I have decided to settle only those debts for which I can satisfy the terms and conditions as mutually agreed between myself and my creditors.

    I have already reached acceptable settlements with a couple of creditors and I doubt whether I will have enough funds available till the end of this month. However, I’d like to regain my credit rating and if you can help me do so, I’d be willing to offer you some more money as part of my settlement.

    If you find the above terms and conditions acceptable, please sign this letter of agreement and send me a copy. Upon receipt of this agreement, I shall forward you the stated amount through money order.

    Yours truly,

    Your Signature
    Your Name

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