The letter is typically addressed to the insurance claims adjuster assigned to the case. Read our Mutual Release and Settlement Agreement template to understand our law firm's procedure in most settlements.If your lender agrees to settle a debt for less than you owe, you'll need a written agreement of the terms. (Note: This section must be completely filled out. Once prepared, the petition must be signed in the presence of a notary public. ______The parties' custody and visitation order, filed on. This Debt Settlement Agreement (hereafter, "Agreement") is between. ("Creditor(s)"), and. A divorce settlement agreement (also known as a marital settlement agreement) can speed up the divorce process and avoid a costly trial. Debt settlement letters help resolve debts.