debt-settlement-letter-requesting-pay-for-delete-collector.pdf, Study notes of Business

Download debt-settlement-letter-requesting-pay-for-delete-collector.pdf and more Study notes Business in PDF only on Docsity! DEBT SETTLEMENT LETTER REQUESTING PAY FOR DELETE (COLLECTOR) [Your Name] [Your Address] [Your Telephone] [Date] [Collector’s Name] [Collector’s Address] [City, Zip Code] [Collector’s Phone Number] Re: Debt Settlement Proposal Account Number: [Account Number] Dear [Sir/Madam or Collector’s Name], Thank you for taking the time to read this letter. I’m writing in regard to the debt you claim that I owe (referenced above). I’d like to offer to settle the account for a reduced amount. Unfortunately, I’m unable to pay the debt in full due to my business failing, leading to bankruptcy and a loss of income—please accept my apologies. I’ve used up my savings to make ends meet and I’m in a financial crisis. Nonetheless, I’d like to work with you to repay this debt, and humbly request that you agree to my terms. I propose that we settle this debt for [your offer amount]. In exchange, I also ask that you remove this collection account from my credit report with all of the credit bureaus that you report to (Experian, Equifax, and/or TransUnion). In addition, if I pay this debt, you and any associated companies must agree to release me from all liability related to it and to take no further action against me to enforce or collect it. If you agree, please prepare and mail me a written and signed settlement agreement. As soon as I receive the agreement, I’ll pay the proposed amount within [number of days/weeks/months]. Please be aware that, due to my circumstances, I have several financial obligations to meet. I would like to prioritize yours, and I sincerely hope we can reach an agreement soon enough that I’ll be able to do so.