I am writing to explain the bankruptcy filed and discharged July 2008. I filed bankruptcy due to extenuating financial circumstances.I received a letter from the courts that our mortgage company has filed for bankruptcy under chapter 11. Use this example below as a guide when writing to or talking with creditors. Replace the blanks with your own information. This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. Not properly protecting your assets could leave your property – and even your home – vulnerable to being sold to pay off creditors. Mortgage lender requirements. Filing income taxes is a convoluted process, and politicians know it.