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Here is a template you can use to draft your debt settlement agreement. Customize the information contained in this agreement to match your circumstances. The agreement letter can be either simple or complex, depending on your specific financial situation and the type of debt that you owe. A word of caution: This is only a template.
A debt settlement agreement is a contract for renegotiating and settling owed debt. A standard resolution is for the debtor to make one or several large payments to the creditor within a specific timeframe.
Sample Debt Settlement Letter. You can use the sample debt letter below as a template for your own debt settlement effort. Customize it to fit your individual circumstances. Review the sample letter, then we’ll break it down with some items to consider for each section.
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?
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.
A Debt Settlement Agreement is a document used by a Debtor (the person who owes money) or Creditor (the person who is owed money) to resolve an outstanding debt that is owed. Often, a Debtor finds themselves unable to pay the full amount of a debt that they owe to a Creditor.
There are several ways to prepare a settlement letter, including hiring an attorney to write it for you or going online to download a template to use as a starting point. There are also several sample letters you can look at to get an idea of what your completed letter should look like.