Connecticut Sample Letter for Compromise on a Debt

• Category: Letters - Nonlegal - Collections
• State: Multi-State
• Control #: US-0163LR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Request for Debt Compromise Dear [Debtor's Name], I hope this letter finds you well. I am writing to discuss a matter of mutual interest regarding the outstanding debt that exists between us. As you may be aware, the economy has been challenging for many people, including myself, and I find myself struggling to meet all of my financial obligations. Firstly, let me express my gratitude for your understanding and patience thus far. I acknowledge that I owe you a sum of [Amount owed] for [specific purpose/loan]. While I fully intend to honor my obligations, the current circumstances have made it increasingly difficult for me to repay the debt in its entirety within the agreed-upon timeframe. Considering the aforementioned circumstances, I am humbly requesting your cooperation in a debt compromise. A compromise would enable us to find a fair and reasonable solution for both parties involved. I propose that we explore the following options: 1. Reduced Settlement Amount: In light of my financial constraints, I ask if you would consider accepting a reduced settlement amount, which would help me manage my debt burden effectively while fulfilling my commitment to repay you. I propose a decreased payment of [Proposed reduced amount]. 2. Extended Repayment Period: Alternatively, I suggest extending the repayment period. By doing so, I would be able to distribute the payments over a longer duration, enabling me to fulfill my obligations while maintaining a manageable monthly budget. I propose extending the repayment term by [Proposed duration]. It is vital for me to emphasize my sincere intent to honor my commitments. I firmly believe that through a compromise, we can reach a mutually beneficial arrangement that would ease the financial strain on both parties involved. I kindly request that you carefully consider this proposal and respond with your thoughts and any alternative suggestions you may have. Furthermore, I am hopeful that we can come to an agreement that not only satisfies our respective needs but also preserves the amicable relationship we have enjoyed thus far. Please feel free to contact me at your convenience to discuss the matter further and find the most suitable resolution. Thank you for your understanding and cooperation. I eagerly anticipate your prompt response. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Request for Debt Compromise Dear [Debtor's Name], I hope this letter finds you well. I am writing to discuss a matter of mutual interest regarding the outstanding debt that exists between us. As you may be aware, the economy has been challenging for many people, including myself, and I find myself struggling to meet all of my financial obligations. Firstly, let me express my gratitude for your understanding and patience thus far. I acknowledge that I owe you a sum of [Amount owed] for [specific purpose/loan]. While I fully intend to honor my obligations, the current circumstances have made it increasingly difficult for me to repay the debt in its entirety within the agreed-upon timeframe. Considering the aforementioned circumstances, I am humbly requesting your cooperation in a debt compromise. A compromise would enable us to find a fair and reasonable solution for both parties involved. I propose that we explore the following options: 1. Reduced Settlement Amount: In light of my financial constraints, I ask if you would consider accepting a reduced settlement amount, which would help me manage my debt burden effectively while fulfilling my commitment to repay you. I propose a decreased payment of [Proposed reduced amount]. 2. Extended Repayment Period: Alternatively, I suggest extending the repayment period. By doing so, I would be able to distribute the payments over a longer duration, enabling me to fulfill my obligations while maintaining a manageable monthly budget. I propose extending the repayment term by [Proposed duration]. It is vital for me to emphasize my sincere intent to honor my commitments. I firmly believe that through a compromise, we can reach a mutually beneficial arrangement that would ease the financial strain on both parties involved. I kindly request that you carefully consider this proposal and respond with your thoughts and any alternative suggestions you may have. Furthermore, I am hopeful that we can come to an agreement that not only satisfies our respective needs but also preserves the amicable relationship we have enjoyed thus far. Please feel free to contact me at your convenience to discuss the matter further and find the most suitable resolution. Thank you for your understanding and cooperation. I eagerly anticipate your prompt response. Yours sincerely, [Your Name]