Dear [Creditor's Name], I am writing to discuss a potential compromise on the debt that I owe to your company. I wanted to address this matter promptly and find a resolution that is mutually beneficial for both parties involved. Firstly, I want to provide some context regarding my current financial situation. I reside in Bronx, New York, a vibrant borough that is one of the five boroughs of New York City. Known for its rich cultural diversity, historical significance, and bustling neighborhoods, the Bronx is home to a vast population facing various economic challenges. Unfortunately, due to unexpected circumstances, such as medical expenses and a loss of employment, I have found myself struggling to meet my financial obligations. I understand the importance of fulfilling my debt and maintaining a good credit history, which is why I am reaching out to discuss a potential compromise. I am aware that there may be different types of sample letters for compromises on a debt, so I would like to propose two possible approaches: 1. Lump Sum Settlement: Considering my current financial constraints, I am open to offering a lump sum payment as a compromise. While I may not be able to settle the full amount, I am willing to negotiate a lump sum payment that I believe is fair and within my means. This arrangement would allow me to fulfill the debt in a timely manner and alleviate some financial burden on my side. 2. Extended Payment Plan: Alternatively, I understand that you may prefer the debt to be repaid over a longer period. In that case, I propose an extended payment plan that accommodates my financial capabilities. This approach would involve breaking down the debt into manageable monthly installments, allowing me to fulfill my obligations without causing significant financial strain. In either case, I want to emphasize my genuine commitment in resolving this debt amicably and maintaining a positive relationship with your company. I recognize the importance of fulfilling my financial responsibilities and will make every effort to honor the agreed-upon compromise. I kindly request your understanding and consideration of my situation. If you find either of the proposed approaches acceptable, I would appreciate receiving a formal agreement outlining the terms and conditions for the compromise. This will ensure clarity for both parties and provide a foundation for moving forward. Thank you for your attention to this matter, and I look forward to your prompt response. Should you require any further documentation or wish to discuss this matter further, please feel free to contact me at your convenience. Sincerely, [Your Name]
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.