APPENDIX 6 - Sample Debt Settlement Letter
YOUR NAME ADDRESS CITY, STATE, ZIP HOME PHONE (Creditor’s Name) (Address) (City, State, Zip) RE: (Your Name) (Creditor’s Account Number) (Your Social Security Number) (Date)
I (Your Name), would like to settle the outstanding debt with (Creditor’s Name). (Give explanation why you have not paid the debt. Los of job, illness, etc.) I have a strong interest in paying back the debt. Currently, there is an outstanding debt balance owed in the amount of (Input dollar amount). I am prepared to settle the outstanding debt for (Input the lump sum amount you can afford to pay). As part of my settlement offer, I am requesting the following conditions listed below: SETTLEMENT CONDITIONS: 1. My account will show paid in full with no future monies owed associated with the account number listed above. 2. Any litigation filed against me is dropped and no future litigation in any state will be filed against me associated with the account number listed above. 3. Delete all negative listings pertaining with the account number listed above from all three bureaus below. EQUIFAX Credit Information Services TRANS UNION Corporation EXPERIAN (Formerly TRW) Upon an acceptance letter from (Creditor’s Name) regarding settlement amount and settlement conditions, I (Your Name), will over night a Money Order in the amount of (Input settlement amount) paid to (Creditor’s Name) for settlement of the debt in full associated with the account number listed above. (Creditor’s Name) agrees to forward that settlement letter to all three credit bureaus and any other credit bureaus that we deal with for deletion of negative listings, which is listed above in settlement conditions. _____________________________________________________________________________________________ (Print Your Name) Date
_____________________________________________________________________________________________ (Sign Your Name) Date