This article provides a template for a debt settlement proposal letter and explains what a debt settlement letter should contain. (1) Credit Accounts.In a claim based upon a credit card, revolving credit, or open account, the petition must state: (A) the account or card name;. The first step in a debt settlement negotiation with a bank, credit card company, or collection agency is to confirm the debt belongs to you. 2. How much money are you being sued for? This article explains your rights and options under the law if you are facing debt collection. MyH2O is a Fort Worth Water program designed to improve customer engagement and utility operations through advanced technology. Specify that the proposed payment will work as a complete settlement for the entire debt. Fill it out and file it with your Original Petition for Divorce. No information is available for this page.