Debt Settlement Letter Sample With Payment Plan In Harris
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FAQ
And I want to offer this as full and final settlement of the account. I amWe are we are making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.
Clearly define objectives before drafting the settlement offer. If monetary compensation is involved, the offer should specify the amount, payment schedule, and contingencies for non-payment. Non-monetary terms, such as confidentiality clauses, mutual releases, or other protective measures, should also be considered.
I hope we will be able to agree upon an acceptable debt repayment plan. I have taken a careful look at my financial situation. I have set up a realistic minimum budget for my living expenses and have developed a debt repayment program. I am hoping you will accept a reduced payment of per month.
Tip for Drafting an Effective Settlement Letter Be concise. Your letter might be 20-30 pages long if your claim is complex. Be organized. Reread your letter to make sure you haven't said anything that the opposing party can twist around to use against you. Be polite and professional.
Your settlement letter should begin with a heading that clearly identifies it as a settlement proposal. Be sure to include your contact information, such as your name, address and phone number so that the recipient can get in touch with you if necessary.
Most debt settlement letters include: The date, name, and address of the credit card company. A notation after the address that this is regarding a hardship letter. The credit card number and amount of the debt. A short statement of your financial situation, why you're in that situation, and why full payment is a hardship.
I am applying to make a repayment arrangement on the grounds of financial hardship. I assume you will stay all enforcement action while you consider my application. If this is not possible, please let me know immediately in writing. I have been in financial hardship because (give a reason).
The debt settlement company calls the borrower's creditor and negotiates a lump-sum debt payment of $20,000 to satisfy the previously required monthly debt payments of $10,000. The creditor, having written off the borrower due to non-payments for three months, accepts the lump-sum payment of $20,000.
An example of a settlement can be a town, city, village, outpost, or metropolis. These settlements are usually located near natural resources or close together for security.
Payment settlement involves collecting the funds for the amount recorded for an order. For example, when using credit cards, the settlement process specifically involves contacting the payment system and collecting the required amount of funds against the credit card.
