This letter is in reference to the account number identified above and its outstanding debt. To make a debt settlement agreement, you should identify your debt owner, negotiate a settlement, and formalize the agreement in writing with all details.Use this letter to help you negotiate a full and final settlement offer with a creditor. You can fill in the appropriate information and mail this to the debt collection agency harassing you. Sample Cease and Desist Letter: Insert date. If you're worried about how to get out of debt, here are some things to know — and how to find legitimate help.