North Carolina 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] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Agreement to Compromise Debt Dear [Recipient's Name], I hope this letter finds you in good health. I am writing to propose a debt compromise agreement in regard to the outstanding balance I owe to [Creditor Name/Company]. I am hopeful that we can come to a mutually beneficial resolution to this matter. As you are likely aware, I have been facing financial challenges that have rendered me unable to meet my previous repayment obligations. However, I am committed to rectifying this situation and restoring my financial stability. After careful consideration and assessment of my financial standing, I believe it is in both parties' best interest to reach a compromise on the debt. I hereby propose the following terms for the debt compromise agreement: 1. Total Debt Amount: $[Total Debt Amount] 2. Proposed Compromise Amount: $[Proposed Compromise Amount] 3. Repayment Plan: I am prepared to make a lump sum payment of $[Lump Sum Payment Amount] to settle the debt upon your acceptance of this proposal. Alternatively, I can also arrange to make monthly payments of $[Monthly Payment Amount] over a period of [Number of Months] until the compromised amount is fully satisfied. 4. Release of Liability: Upon receipt of the agreed-upon payment, I request that you provide a written confirmation of the settlement and absolve me of any further liability for the remaining balance. 5. Timely Payments: I assure you that I will make all payments in a timely manner as agreed upon in this compromise agreement. 6. Legalities: This agreement will not be construed as an admission of liability or wrongdoing on my part, nor will it prejudice my rights to claim any exemptions or defenses otherwise available to me under North Carolina law. I kindly request that you give careful consideration to this proposal. With my current financial circumstances, this compromise would allow me to fulfill my obligations while avoiding further financial distress. Acceptance of this arrangement will enable me to move forward and regain control over my finances. Lastly, as I believe open communication and transparency are crucial to resolving financial matters, I am open to discussing any adjustments to the proposed terms if needed. Please feel free to reach out to me at [Phone Number] or [Email Address] to further discuss this agreement. I kindly request a response within [Specify Timeframe] to finalize the agreement and proceed with the necessary arrangements. I believe that through cooperation and understanding, we can reach a fair compromise that benefits both parties. Thank you for your attention to this matter. I look forward to your prompt response. Yours sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Agreement to Compromise Debt Dear [Recipient's Name], I hope this letter finds you in good health. I am writing to propose a debt compromise agreement in regard to the outstanding balance I owe to [Creditor Name/Company]. I am hopeful that we can come to a mutually beneficial resolution to this matter. As you are likely aware, I have been facing financial challenges that have rendered me unable to meet my previous repayment obligations. However, I am committed to rectifying this situation and restoring my financial stability. After careful consideration and assessment of my financial standing, I believe it is in both parties' best interest to reach a compromise on the debt. I hereby propose the following terms for the debt compromise agreement: 1. Total Debt Amount: $[Total Debt Amount] 2. Proposed Compromise Amount: $[Proposed Compromise Amount] 3. Repayment Plan: I am prepared to make a lump sum payment of $[Lump Sum Payment Amount] to settle the debt upon your acceptance of this proposal. Alternatively, I can also arrange to make monthly payments of $[Monthly Payment Amount] over a period of [Number of Months] until the compromised amount is fully satisfied. 4. Release of Liability: Upon receipt of the agreed-upon payment, I request that you provide a written confirmation of the settlement and absolve me of any further liability for the remaining balance. 5. Timely Payments: I assure you that I will make all payments in a timely manner as agreed upon in this compromise agreement. 6. Legalities: This agreement will not be construed as an admission of liability or wrongdoing on my part, nor will it prejudice my rights to claim any exemptions or defenses otherwise available to me under North Carolina law. I kindly request that you give careful consideration to this proposal. With my current financial circumstances, this compromise would allow me to fulfill my obligations while avoiding further financial distress. Acceptance of this arrangement will enable me to move forward and regain control over my finances. Lastly, as I believe open communication and transparency are crucial to resolving financial matters, I am open to discussing any adjustments to the proposed terms if needed. Please feel free to reach out to me at [Phone Number] or [Email Address] to further discuss this agreement. I kindly request a response within [Specify Timeframe] to finalize the agreement and proceed with the necessary arrangements. I believe that through cooperation and understanding, we can reach a fair compromise that benefits both parties. Thank you for your attention to this matter. I look forward to your prompt response. Yours sincerely, [Your Name]