Your debt settlement proposal letter must be formal and clearly state your intentions and what you expect from your creditors. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain.Our debt settlement agreement template helps to clearly outline repayment terms to reach a mutually agreeable solution. Use this template letter to make an initial debt settlement offer if the debt is still with the original creditor. When drafting a debt settlement letter, you'll want to include basic information, including your name and account number. Corinthian Group Discharge.