This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. A debt settlement letter is all you need to negotiate debts with your creditors.It asks you to pay a certain settlement amount to the collection agency. 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. Here is a quick template for those looking to send a settlement offer to a collection agency or Pay for Delete. What follows is a general guide to Ohio's open-government laws – the 2024 Sunshine Laws Manual.