Hawaii 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. Dear [Creditor's Name], I am writing to propose a debt settlement agreement in order to resolve the outstanding balance on my account. I understand that I am currently unable to fulfill the full financial obligation, and I am seeking your understanding and cooperation in coming to a compromise that is favorable for both parties involved. As you may be aware, I have encountered unexpected financial hardships that have made it increasingly difficult for me to meet my financial obligations. These circumstances have led me to evaluate my current financial situation and explore alternative methods to address my outstanding debts. After careful consideration, I propose a compromise agreement where we can settle the outstanding debt for a reduced amount. This endeavor will allow me to repay a portion of the debt while alleviating the burden of the full amount and avoiding further financial distress. I assure you that this proposal is made in good faith, with the genuine intention to resolve the debt responsibly. To demonstrate my commitment, I am prepared to make a lump sum payment of [proposed reduced amount] within [timeframe]. By accepting this compromise agreement, both parties can find a mutually beneficial resolution. I propose that, upon receiving the lump sum payment, you will consider the outstanding debt fully settled. Please confirm your acceptance of this agreement by signing and returning a copy of this letter. Additionally, I kindly request that you update my credit report with the appropriate status to reflect that the debt has been settled through compromise. Doing so will help me rebuild my financial reputation and move forward from this challenging period. I understand that this proposition may not be ideal for either of us, but I believe it is a fair compromise given my current financial circumstances. I genuinely appreciate your understanding, consideration, and prompt attention to this matter. Thank you for your time and cooperation. I look forward to receiving your acceptance of this compromise agreement. Sincerely, [Your Name] Keywords: Hawaii, sample letter, agreement, compromise, debt settlement, outstanding balance, financial obligation, financial hardships, alternative methods, financial situation, proposal, reduced amount, burden, financial distress, responsibility, lump sum payment, timeframe, mutually beneficial resolution, acceptance, confirming agreement, credit report, settled through compromise, reputation, challenging period, understanding, consideration, attention.

Dear [Creditor's Name], I am writing to propose a debt settlement agreement in order to resolve the outstanding balance on my account. I understand that I am currently unable to fulfill the full financial obligation, and I am seeking your understanding and cooperation in coming to a compromise that is favorable for both parties involved. As you may be aware, I have encountered unexpected financial hardships that have made it increasingly difficult for me to meet my financial obligations. These circumstances have led me to evaluate my current financial situation and explore alternative methods to address my outstanding debts. After careful consideration, I propose a compromise agreement where we can settle the outstanding debt for a reduced amount. This endeavor will allow me to repay a portion of the debt while alleviating the burden of the full amount and avoiding further financial distress. I assure you that this proposal is made in good faith, with the genuine intention to resolve the debt responsibly. To demonstrate my commitment, I am prepared to make a lump sum payment of [proposed reduced amount] within [timeframe]. By accepting this compromise agreement, both parties can find a mutually beneficial resolution. I propose that, upon receiving the lump sum payment, you will consider the outstanding debt fully settled. Please confirm your acceptance of this agreement by signing and returning a copy of this letter. Additionally, I kindly request that you update my credit report with the appropriate status to reflect that the debt has been settled through compromise. Doing so will help me rebuild my financial reputation and move forward from this challenging period. I understand that this proposition may not be ideal for either of us, but I believe it is a fair compromise given my current financial circumstances. I genuinely appreciate your understanding, consideration, and prompt attention to this matter. Thank you for your time and cooperation. I look forward to receiving your acceptance of this compromise agreement. Sincerely, [Your Name] Keywords: Hawaii, sample letter, agreement, compromise, debt settlement, outstanding balance, financial obligation, financial hardships, alternative methods, financial situation, proposal, reduced amount, burden, financial distress, responsibility, lump sum payment, timeframe, mutually beneficial resolution, acceptance, confirming agreement, credit report, settled through compromise, reputation, challenging period, understanding, consideration, attention.