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A debt settlement letter is a written proposal for you to offer a specific amount of money in exchange for the forgiveness of your debt. These letters address why you're unable to pay the debt, how much you're willing to pay now, and what you would like from the creditors in return.
The letter must state the exact amount you are seeking and why you believe you are entitled to it. In the letter state that you intend to file an action in Small Claims Court if the matter is not resolved within 10 business days. Send separate demand letters to each person or business you plan to sue.
What Should Be Included in a Settlement Agreement? Identifying information for all involved parties. A description of the issue you're seeking to settle. An offer of resolutions that both parties agree to. Proof of valid consideration from both parties without coercion or duress. Legal purpose.
The letter must state the exact amount you are seeking and why you believe you are entitled to it. In the letter state that you intend to file an action in Small Claims Court if the matter is not resolved within 10 business days. Send separate demand letters to each person or business you plan to sue.
Frequently Asked Questions (FAQ) Type your letter. ... Concisely review the main facts. ... Be polite. ... Write with your goal in mind. ... Ask for exactly what you want. ... Set a deadline. ... End the letter by stating you will promptly pursue legal remedies if the other party does not meet your demand. Make and keep copies.
In general, you may send your demand letter via email, mail, text message or even hand delivery. For letters that you mail, consider sending your letter with tracking information so that you know when it has been delivered.
Using an Angry Tone. Writing in an angry tone or personally attacking the other party is the worst thing you can do in a demand letter. If you let your emotions speak, you'll only invite the receiver to respond in the same tone.
Frequently Asked Questions (FAQ) Type your letter. ... Concisely review the main facts. ... Be polite. ... Write with your goal in mind. ... Ask for exactly what you want. ... Set a deadline. ... End the letter by stating you will promptly pursue legal remedies if the other party does not meet your demand. Make and keep copies.