Debt Settlement Demand Letter Outline
Debt Settlement Demand Letter Outline
September 25, 2050
ABC Collections
456 Oak Avenue
Springfield, IL 62701
Subject: Debt Settlement Demand Letter
Dear ABC Collections,
I am writing to formally request a settlement of my debt with your organization, account number 7890123. Due to unforeseen financial difficulties, including a recent job loss and mounting medical expenses, I am unable to pay the total amount owed.
1. Background Information
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Current balance: $5,000
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Date account opened: January 15, 2050
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Account status: Charged off
2. Offer for Settlement
I propose a settlement amount of $2,500, which I can pay in a lump sum by October 31, 2050. I believe this offer is reasonable considering my financial situation and the amount of debt currently owe.
3. Justification for Settlement
My current financial hardships have significantly impacted my ability to repay the full balance. Settling the debt at this amount is beneficial for both parties, as it allows me to clear this obligation while ensuring that you recover a portion of the debt rather than risking further losses.
4. Request for Confirmation
Please confirm in writing that you accept my settlement offer by October 25, 2024. Upon your acceptance, I will arrange for the payment as discussed.
5. Additional Conditions
If this settlement is agreed upon, I request that you:
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Mark the account as "Settled in Full" with all credit reporting agencies.
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Provide a written confirmation that the debt has been settled upon receipt of the payment.
Thank you for considering my request. I hope to resolve this matter amicably. I look forward to your prompt response.
Sincerely,
[Your Name]
