After careful consideration of my financial situation, I am offering to settle this debt for (Proposed Settlement Amount), which is (Specify the Percentage, eg, 50%) of the total outstanding balance. I believe this is a fair and reasonable offer given my circumstances.

Specifically, the rule states that a debt collector cannot: Make more than seven calls within a seven-day period to a consumer regarding a specific debt. Call a consumer within seven days after having a telephone conversation about that debt.

Some collectors want 75%–80% of what you owe. Others will take 50%, while others might settle for one-third or less. So, it makes sense to start low with your first offer and see what happens. And be aware that some collectors won't accept anything less than the total debt amount.

Treat the following as a set of general guidelines: Gather complete information before you start writing. Describe your injuries and medical treatment. List your medical expenses, lost wages, and non-economic damages. Make a settlement demand. Include a deadline for legal action if you want to, but don't bluff.

I respectfully request that you forgive my alleged debt, as my condition precludes any employment, and my current and future income does not support any debt repayment. Please respond to my request in writing to the address below at your earliest convenience. Thank-you in advance for your understanding of my situation.

Unfortunately, my circumstances are unlikely to improve in the foreseeable future and I have no assets to sell to help clear my debt. I am therefore asking you to consider writing off my debt as I can see no way of ever repaying it. If you are unable to agree to this, please explain your reasons.

I respectfully request that you forgive my alleged debt, as my condition precludes any employment, and my current and future income does not support any debt repayment. Please respond to my request in writing to the address below at your earliest convenience. Thank you in advance for your understanding of my situation.

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Below, we've created an example of a debt settlement proposal letter that you can use as a guide. Your letter can be sent via your preferred contact method.This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. The Direct Deposit SignUp Form (FS Form 1200) is available in Chapter 9, Forms. How to Complete the FS Form 1200. Debt settlement is one of the most effective ways to resolve a debt and save money. A good debt settlement letter should be concise, thorough, and convincing enough to get a creditor to agree to your terms. Our debt settlement agreement template helps to clearly outline repayment terms to reach a mutually agreeable solution. Many of these forms can be filled out on a computer and then printed. Learn how to write a professional Debt Settlement Letter using this template.

Debt Settlement Letter Sample With Attached Resume In Franklin

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