1. In the sample letter, fill in your personal information. At Linebarger: By credit card, check or money order.If you've stopped paying your creditors for unpaid debts, they will likely report your account as a charge-off after four to six months of non-payment. A letter of credit is a letter from a bank guaranteeing that a buyer's payment will be received on time and for the correct amount. I. PURPOSE: The County recognizes the foundation of any wellmanaged debt program is a comprehensive debt policy. Out externally to their bank? This program will help you write a letter that formally requests the money you are owed. This is called a Demand Letter. Out externally to their bank? Where students fill a bag to take home.