Georgia Sample Letter for Agreement to Compromise Debt

• Category: Letters - Nonlegal - Agreements
• State: Multi-State
• Control #: US-0051LR
• 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 Code] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP Code] Subject: Agreement to Compromise Outstanding Debt Dear [Debtor's Name], I am writing to propose a mutually beneficial agreement regarding the outstanding debt owed to me. This letter serves as a formal offer to compromise the debt in order to alleviate the financial burden for both parties involved. As a Georgia resident, I have been dealing with the challenges associated with unpaid debts, and I believe it is in our best interest to reach a compromise that enables us to settle this matter amicably and avoid further legal complications. I am aware that everyone faces unforeseen circumstances and financial difficulties at times, and I am willing to work with you to resolve this debt issue. After careful consideration, I propose the following terms for a debt compromise agreement: 1. Amount: The total outstanding debt amount that we currently disagree on is [EX, XXX.XX]. I propose that we settle this amount by accepting [EX, XXX.XX] as full and final payment, thus releasing you from any additional obligation related to this settlement. 2. Installment Option: To accommodate your financial situation and provide reasonable repayment terms, I am willing to accept the settlement amount of [EX, XXX.XX] to be paid in [number of installments] equal monthly installments. These installments will commence starting [date] and will continue until [end date]. Please note that no further interest will be accrued during this settlement period. 3. Confirmation of Settlement: Upon receipt of the full settlement amount, I will provide you with a written confirmation of the debt being considered fully satisfied. This document will act as evidence that the debt has been legally compromised, and no further action will be taken to pursue the remaining balance owed. Please understand that this offer is contingent upon your acceptance and compliance with the agreed-upon terms. If you find these terms to be reasonable and suitable, please sign and date this letter in the space provided below. Kindly return a copy of this letter to me within [number of days] from the date of this letter to formalize our agreement. By signing this letter, you acknowledge that you fully understand and accept the terms outlined herein and intend to honor your commitment to repay the compromised debt amount as agreed upon. Should you have any questions or concerns regarding this proposal, please do not hesitate to contact me at [your phone number] or [your email address] to discuss further. I believe that this agreement will provide both of us the opportunity to tackle our financial challenges responsibly and move forward. Thank you for your attention to this matter, and I look forward to resolving this issue amicably. Sincerely, [Your Name] — Georgia Sample Letter for Agreement to Compromise a Personal Debt — Georgia Sample Letter for Agreement to Compromise a Business Debt — Georgia Sample Letter for Agreement to Compromise a Medical Debt — Georgia Sample Letter for Agreement to Compromise a Student Loan Debt

[Your Name] [Your Address] [City, State, ZIP Code] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP Code] Subject: Agreement to Compromise Outstanding Debt Dear [Debtor's Name], I am writing to propose a mutually beneficial agreement regarding the outstanding debt owed to me. This letter serves as a formal offer to compromise the debt in order to alleviate the financial burden for both parties involved. As a Georgia resident, I have been dealing with the challenges associated with unpaid debts, and I believe it is in our best interest to reach a compromise that enables us to settle this matter amicably and avoid further legal complications. I am aware that everyone faces unforeseen circumstances and financial difficulties at times, and I am willing to work with you to resolve this debt issue. After careful consideration, I propose the following terms for a debt compromise agreement: 1. Amount: The total outstanding debt amount that we currently disagree on is [EX, XXX.XX]. I propose that we settle this amount by accepting [EX, XXX.XX] as full and final payment, thus releasing you from any additional obligation related to this settlement. 2. Installment Option: To accommodate your financial situation and provide reasonable repayment terms, I am willing to accept the settlement amount of [EX, XXX.XX] to be paid in [number of installments] equal monthly installments. These installments will commence starting [date] and will continue until [end date]. Please note that no further interest will be accrued during this settlement period. 3. Confirmation of Settlement: Upon receipt of the full settlement amount, I will provide you with a written confirmation of the debt being considered fully satisfied. This document will act as evidence that the debt has been legally compromised, and no further action will be taken to pursue the remaining balance owed. Please understand that this offer is contingent upon your acceptance and compliance with the agreed-upon terms. If you find these terms to be reasonable and suitable, please sign and date this letter in the space provided below. Kindly return a copy of this letter to me within [number of days] from the date of this letter to formalize our agreement. By signing this letter, you acknowledge that you fully understand and accept the terms outlined herein and intend to honor your commitment to repay the compromised debt amount as agreed upon. Should you have any questions or concerns regarding this proposal, please do not hesitate to contact me at [your phone number] or [your email address] to discuss further. I believe that this agreement will provide both of us the opportunity to tackle our financial challenges responsibly and move forward. Thank you for your attention to this matter, and I look forward to resolving this issue amicably. Sincerely, [Your Name] — Georgia Sample Letter for Agreement to Compromise a Personal Debt — Georgia Sample Letter for Agreement to Compromise a Business Debt — Georgia Sample Letter for Agreement to Compromise a Medical Debt — Georgia Sample Letter for Agreement to Compromise a Student Loan Debt