Jan 2, 2025 · A debt settlement offer is a legal document that proposes a new arrangement to resolve a debt. Generally, the debtor sends this letter to suggest a one-time payment, which is less than the full amount owed, in exchange for the creditor forgiving the remaining balance.

Aug 1, 2024 · A debt settlement letter contains a proposal offer that will hopefully open the door to negotiate a fair and reasonable debt settlement. This letter is useful whether you are negotiating with the original creditor, a collection agency, or a debt buyer.

Jun 18, 2019 · Use this template letter to make an initial debt settlement offer if the debt is still with the original creditor. It includes a negotiating point requesting to remove any late payments or charge-off statuses from your credit report.

When you send a debt settlement offer letter to a creditor, it’s important that you explain to them how you plan to settle the outstanding amount, along with any payment amounts and scheduled dates.

Nov 20, 2023 · If you have debts that you cannot pay, debt settlement is a way to reduce them. Your debt settlement letter will offer a proposal to settle your debt in full for less than the amount you owe. A well-prepared letter has a better chance of success.

A debt settlement offer letter is a written proposal that a debtor or his attorney sends to a creditor or a debt collections agency to offer a specific amount of money to forgive a debt. A creditor may also send a debtor an offer letter.

In an effort to save both of us a great deal of time and expense I am offering to settle this account for $ _______. (see alternative text below) If you accept my offer, please send written confirmation to my address listed above. Once I receive your written confirmation, I will mail payment to your organization within five business days.

Apr 11, 2024 · You can draft your own debt settlement letter using our sample letter below, or start the debt negotiation process with SoloSettle to get the ball rolling on settling your debt. Is a debt collector pursuing you for an old debt you wish was long behind you?

Debt Settlement Offer Letter [Free Templates] A Debt Settlement Letter: A letter drawn up by the debtor when they are unable to pay the full amount of money, but they are willing to close the debt if the lender agrees to new terms.