Maine 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. Sample Letter for Compromise on a Debt in Maine [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 a matter of utmost importance regarding the outstanding debt of [mention the specific debt, including the amount owed, any relevant dates, and the creditor's name]. I am facing financial hardships and kindly request your cooperation in reaching a mutually beneficial settlement through a debt compromise agreement. As you may be aware, a debt compromise agreement is a legal and negotiated settlement that aims to resolve the outstanding debt issue amicably. The agreement would involve you, as the debtor, reducing the debt amount owed to a reasonable and manageable sum, which would allow me to repay the remaining balance in a timely manner. Given my current financial situation, I believe that a debt compromise agreement is the most viable option for both parties involved. By agreeing to this, we can avoid lengthy legal proceedings and ensure a fair and equitable resolution. I am committed to resolving this matter in good faith and believe that an amicable compromise is in the best interest of everyone involved. To initiate the process, I kindly request you to provide me with a detailed breakdown of the outstanding debt, including any accrued interest, penalties, or additional charges. This will help me better understand the total amount owed and enable us to negotiate a fair and reasonable settlement. I assure you that I am committed to honoring my financial obligations and aim to resolve this matter as promptly as possible. Therefore, I propose the following compromise: 1. A reduction of the total outstanding debt by [proposed percentage or amount]. 2. A revised repayment plan with a monthly installment of [proposed amount], starting from [proposed start date], until the debt is fully settled. 3. A written agreement acknowledging the compromise and its terms, signed by both parties. It is crucial that we work together to find a resolution that considers both our interests. Therefore, I kindly request you to consider this proposal and respond within [mention a reasonable time frame, preferably within 14 days] to initiate the negotiation process. Please feel free to contact me at [your phone number] or [your email address] to discuss further details or if you have any questions regarding this matter. Thank you for your time and understanding. I look forward to resolving this debt issue with your cooperation and reaching a fair compromise that will alleviate my financial burden and allow you to recover a portion of the debt owed. Sincerely, [Your Name]

Sample Letter for Compromise on a Debt in Maine [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 a matter of utmost importance regarding the outstanding debt of [mention the specific debt, including the amount owed, any relevant dates, and the creditor's name]. I am facing financial hardships and kindly request your cooperation in reaching a mutually beneficial settlement through a debt compromise agreement. As you may be aware, a debt compromise agreement is a legal and negotiated settlement that aims to resolve the outstanding debt issue amicably. The agreement would involve you, as the debtor, reducing the debt amount owed to a reasonable and manageable sum, which would allow me to repay the remaining balance in a timely manner. Given my current financial situation, I believe that a debt compromise agreement is the most viable option for both parties involved. By agreeing to this, we can avoid lengthy legal proceedings and ensure a fair and equitable resolution. I am committed to resolving this matter in good faith and believe that an amicable compromise is in the best interest of everyone involved. To initiate the process, I kindly request you to provide me with a detailed breakdown of the outstanding debt, including any accrued interest, penalties, or additional charges. This will help me better understand the total amount owed and enable us to negotiate a fair and reasonable settlement. I assure you that I am committed to honoring my financial obligations and aim to resolve this matter as promptly as possible. Therefore, I propose the following compromise: 1. A reduction of the total outstanding debt by [proposed percentage or amount]. 2. A revised repayment plan with a monthly installment of [proposed amount], starting from [proposed start date], until the debt is fully settled. 3. A written agreement acknowledging the compromise and its terms, signed by both parties. It is crucial that we work together to find a resolution that considers both our interests. Therefore, I kindly request you to consider this proposal and respond within [mention a reasonable time frame, preferably within 14 days] to initiate the negotiation process. Please feel free to contact me at [your phone number] or [your email address] to discuss further details or if you have any questions regarding this matter. Thank you for your time and understanding. I look forward to resolving this debt issue with your cooperation and reaching a fair compromise that will alleviate my financial burden and allow you to recover a portion of the debt owed. Sincerely, [Your Name]