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.Not sure about how to counter your creditor's debt settlement offer? Download this free Debt Settlement Offer Letter sample. What should I include in a debt settlement letter? In general, Texas has very few official legal forms. I am now experiencing financial hardship due reduced income. This is a type of offer where you ask the creditor to accept part of the amount you owe and write off the rest. If they refuse to answer all of your questions, there's a good chance you're in the middle of a scam. Don't respond and file a complaint with us.