Dear [Creditor's Name], I hope this letter finds you in good health and spirits. I am writing to discuss a potential compromise on the outstanding debt I owe to [Creditor's Company]. I understand that my financial situation has prevented me from fulfilling my obligations as agreed upon in the original contract, and I sincerely apologize for any inconveniences caused. As you may be aware, I reside in Hillsborough, Florida, a county known for its vibrant community and diverse industries. Hillsborough County is situated in the heart of the Tampa Bay area and is home to several major cities, including Tampa, Plant City, and Temple Terrace. The county boasts a population of over 1.4 million residents, making it the fourth-most populous county in Florida. Unfortunately, due to unforeseen circumstances such as job loss and medical expenses, I have found myself struggling to keep up with my financial commitments. Despite my best efforts, my current financial status does not allow for full payment of the debt owed at this time. However, I am committed to resolving this matter and am I proposing a compromise to settle the outstanding debt. I have conducted thorough research and carefully assessed my financial capabilities, and I believe that the following proposal represents a fair and reasonable compromise for both parties involved: 1. Lump-Sum Settlement: I understand that the total amount owed is [EX]. I propose a one-time payment of a reduced amount of [OXY] to satisfy the debt in full. By accepting this compromise, you will not only receive a partial payment in a timelier manner but also avoid the potential risks and costs associated with further debt collection efforts. 2. Monthly Installments: If the lump-sum settlement is not feasible, I request the opportunity to repay the debt in monthly installments. After a thorough evaluation of my income and expenses, I propose making monthly payments of [OZ] over a mutually agreed-upon period of time until the debt is fully settled. This option would allow me to fulfill my financial obligations while ensuring a steady flow of income toward the outstanding debt. I understand that my current financial situation may have raised concerns about my ability to fulfill either of these proposed compromises. However, I am dedicated to regaining my financial stability and committing to the agreed-upon terms. To provide reassurance, I would be willing to sign a legally binding agreement to fulfill my obligations promptly and as outlined in our compromise. I kindly request reviewing my proposal and considering this request for a compromise on the debt owed. I believe that by reaching a fair compromise, we can both alleviate the financial burden and move forward with a renewed commitment to financial responsibility. Thank you for your understanding and cooperation in this matter. I look forward to hearing from you soon to discuss the next steps and finalize a mutually agreeable compromise. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Phone Number] [Email Address]
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.