Guam 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 Code] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, Zip Code] Subject: Request for Debt Compromise Agreement Dear [Debtor's Name], I hope this letter finds you in good health. I am writing to discuss the outstanding balance on the debt owed to me, which currently stands at [insert outstanding amount]. After careful consideration and understanding your present financial constraints, I am open to reaching a compromise to settle this outstanding debt. Being aware of the challenges faced by many individuals [in Guam], I believe that entering into a debt compromise agreement would be a beneficial solution for both parties involved. As such, I propose the following terms for our mutual agreement: 1. Total Debt Amount: The initial outstanding balance of [insert outstanding amount] will be reduced to a more manageable amount of [insert proposed compromise amount]. 2. Repayment Schedule: I suggest that this compromised amount be repaid in [monthly/weekly] installments over a period of [insert proposed repayment period]. This extended timeline aims to alleviate any financial burden on you while ensuring steady progress towards debt settlement. 3. Interest Rates and Fees: To further assist you in settling the debt, I am willing to waive any accrued interest and late payment fees associated with the outstanding balance. This will provide you with additional relief and enable a smoother repayment process. 4. Legal Agreement: In order to ensure a clear understanding and protect both parties' interests, it is recommended to draft and sign a legally binding agreement to solidify the compromise terms. I propose that we engage the services of a reputable attorney to prepare this agreement comprehensively. By entering into this debt compromise agreement, both parties can benefit greatly. You will have an opportunity to rebuild your financial stability, and I will be able to partially recover the outstanding balance while avoiding any potential legal complications. I kindly request that you review these proposed terms and provide me with your response within [insert reasonable timeframe]. Should you have any concerns or suggestions regarding the proposed compromise, please feel free to discuss them with me. I am open to exploring possible variations to ensure that the agreement is fair and feasible for both parties. I believe that through open communication and mutual understanding, we can reach a compromise that will alleviate the financial burden on both parties while achieving a resolution to this outstanding debt. Thank you for your attention to this matter, and I look forward to your prompt response. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, Zip Code] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, Zip Code] Subject: Request for Debt Compromise Agreement Dear [Debtor's Name], I hope this letter finds you in good health. I am writing to discuss the outstanding balance on the debt owed to me, which currently stands at [insert outstanding amount]. After careful consideration and understanding your present financial constraints, I am open to reaching a compromise to settle this outstanding debt. Being aware of the challenges faced by many individuals [in Guam], I believe that entering into a debt compromise agreement would be a beneficial solution for both parties involved. As such, I propose the following terms for our mutual agreement: 1. Total Debt Amount: The initial outstanding balance of [insert outstanding amount] will be reduced to a more manageable amount of [insert proposed compromise amount]. 2. Repayment Schedule: I suggest that this compromised amount be repaid in [monthly/weekly] installments over a period of [insert proposed repayment period]. This extended timeline aims to alleviate any financial burden on you while ensuring steady progress towards debt settlement. 3. Interest Rates and Fees: To further assist you in settling the debt, I am willing to waive any accrued interest and late payment fees associated with the outstanding balance. This will provide you with additional relief and enable a smoother repayment process. 4. Legal Agreement: In order to ensure a clear understanding and protect both parties' interests, it is recommended to draft and sign a legally binding agreement to solidify the compromise terms. I propose that we engage the services of a reputable attorney to prepare this agreement comprehensively. By entering into this debt compromise agreement, both parties can benefit greatly. You will have an opportunity to rebuild your financial stability, and I will be able to partially recover the outstanding balance while avoiding any potential legal complications. I kindly request that you review these proposed terms and provide me with your response within [insert reasonable timeframe]. Should you have any concerns or suggestions regarding the proposed compromise, please feel free to discuss them with me. I am open to exploring possible variations to ensure that the agreement is fair and feasible for both parties. I believe that through open communication and mutual understanding, we can reach a compromise that will alleviate the financial burden on both parties while achieving a resolution to this outstanding debt. Thank you for your attention to this matter, and I look forward to your prompt response. Sincerely, [Your Name]