Illinois Sample Letter for Settlement offer - Authorization of Settlement Offer
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How to fill out Sample Letter For Settlement Offer - Authorization Of Settlement Offer?
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FAQ
Include a paragraph explaining your circumstances and details of your financial situation that you want the creditor to take into account. Enter the amount which you can afford to pay. and I want to offer this as full and final settlement of the account.
I would like to offer an amount of to settle the outstanding debt amount of $ with you. I also like to request you to include the following conditions as a part of my settlement offer: My account will be showing as 'paid in full' with no future liability or involvement.
Dear Mr./Ms. Adjuster: Pursuant to our phone conversation on [insert date], please accept this letter as confirmation that we have agreed to settle, in full, my above-referenced claim for personal injuries for the amount of: [Agreed to Final Settlement Amount]. Thank you for your prompt attention to this matter.
Two Options for Taking the Settlement Offer Read the settlement offer carefully or have an attorney review the offer to be sure it's legally binding ? that the creditor or collector can't come after you for the remaining balance at some point in the future. Or, you can even try to negotiate a lower settlement.
The proposal should have your name, the creditor or debt collector's name, and the account number. It should also have the terms of the settlement, such as the amount being paid, whether it's paid in a lump sum or over time, and the payment due dates.
A Settlement Offer Letter is a communication between two parties in a dispute. The dispute does not have to be in a court of law, although most of the time, it is. One party sends the other party this Settlement Offer Letter, with the proposed terms for a complete settlement between the parties.
What Should Be Included in a Settlement Agreement? Identifying information for all involved parties. A description of the issue you're seeking to settle. An offer of resolutions that both parties agree to. Proof of valid consideration from both parties without coercion or duress. Legal purpose.
I appreciate that your company is willing to work with me in settling the debts I owe. This letter is to confirm my acceptance of the verbal offer. The amount that your representative and I have mutually agreed upon to settle the debt in full is $ .