Travis Texas Sample Letter for Agreement to Compromise Debt: [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Name of Creditor] [Address] [City, State, ZIP Code] Subject: Agreement to Compromise Debt — Account Number [X] Dear [Name of Creditor], I hope this letter finds you well. I am writing to propose a mutually beneficial agreement to compromise the outstanding debt that I owe to [Name of Creditor], account number [X]. Recognizing the financial challenges I have faced recently, I believe this agreement could help us reach a fair resolution while providing me with an opportunity to repay my debt. I understand the importance of fulfilling my financial obligations and take full responsibility for the outstanding debt. However, due to unforeseen circumstances [such as medical expenses, unemployment, or any other relevant reason], I am currently unable to meet the full amount owed within the original terms. In light of this situation, I am proposing a compromise amount of [Proposed Compromised Amount, e.g., 50% of the total outstanding debt] to be accepted as full satisfaction of the debt. I believe this amount reflects my sincere intention to honor my obligation while considering my current financial constraints. To signify my commitment, I am willing to make a lump-sum payment of [Proposed Payment Amount and Method, e.g., EX via certified check or money order] within [Proposed Payment Timeframe, e.g., 30 days] of your acceptance of this proposal. Upon receipt of the payment, I kindly request that [Name of Creditor] clear my account of any remaining debt and provide me with a written confirmation of the settlement. To ensure transparency and legal protection for both parties, I propose that this debt settlement agreement be documented in a legally binding contract. Should you accept this offer, I kindly request that you draft a formal agreement outlining the terms and conditions of the compromise, including the compromised amount, payment terms, and any other relevant provisions. I understand that the acceptance of this proposal is entirely at the discretion of [Name of Creditor]. However, I sincerely hope that you will consider my financial circumstances and the proposed compromise amount as a viable solution to settle this debt. Please contact me at your earliest convenience to discuss this matter further or to address any concerns you may have regarding this proposal. I can be reached at [Phone Number] or [Email Address]. I look forward to resolving this matter amicably and in a mutually beneficial manner. Thank you for your time and consideration. Sincerely, [Your Name] Different types of Travis Texas Sample Letter for Agreement to Compromise Debt might include variations in the circumstances leading to the debt, compromised amounts, proposed payment methods, and payment timeframes. Additionally, specific types might be tailored for debts to different types of creditors, such as credit card companies, medical providers, or utility providers. The variations in these letters would be based on the specific circumstances and requirements of each debt situation.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.