Bank Loan Settlement Letter
Bank Loan Settlement Letter
April 5, 2054
Sarah Wilson
1606 Jones Avenue,
Greensboro, NC 27401
Ms. Wilson,
We are writing to confirm the terms of the settlement agreement reached regarding your outstanding loan with Harbor Trust Bank. After careful consideration and negotiation, we have agreed upon the following terms:
1. Loan Details:
- Loan Account Number: ABC123456
- Original Loan Amount: $10,000
- Current Outstanding Balance: $7,500
2. Settlement Amount:
- Agreed Settlement Amount: $5,000
- Payment Method: One-time lump sum payment via check
3. Concessions:
- Reduction in principal balance to $5,000
- Waiver of accrued interest and late fees
4. Payment Schedule (if applicable):
- N/A
5. Other Conditions:
- Upon receipt of the agreed settlement amount, the loan will be considered fully settled, and no further amounts will be due or payable by you in connection with this loan.
Please sign and return a copy of this letter to indicate your acceptance of the terms outlined herein. Upon receipt of your signed acceptance, we will proceed with the necessary arrangements to finalize the settlement.
If you have any questions or require further clarification regarding this settlement agreement, please do not hesitate to contact us.
Thank you for your cooperation in resolving this matter. We look forward to the successful completion of this settlement agreement.
Bill Gauthier
[YOUR COMPANY NAME]
