Use this letter to help you negotiate a full and final settlement offer with your lender. Your debt settlement proposal letter must be formal and clearly state your intentions and what you expect from your creditors.The template below can help you write your own pay for delete letter. Simply update the bolded portions with your own information. Use this letter to help you negotiate a full and final settlement offer with a creditor. Check out our settlement letter selection for the very best in unique or custom, handmade pieces from our templates shops. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. When drafting a debt settlement letter, you'll want to include basic information, including your name and account number. Not sure about how to counter your creditor's debt settlement offer? Download this free Debt Settlement Offer Letter sample.