Subject: New Hampshire Sample Letter for Agreement to Extend Debt Payment — Ensuring Stress-Free Repayment Dear [Creditor's Name], I am writing to you today to discuss the possibility of extending the debt payment agreement we currently have in place. As a responsible borrower, I understand the importance of meeting my financial obligations punctually. However, due to unforeseen circumstances impacting my personal finances, I find it necessary to propose an extension to the existing repayment schedule. Considering the nature of our lender-borrower relationship, I am confident that we can work together to find a mutually beneficial solution. I greatly appreciate your willingness to review my request carefully and consider the options outlined below. 1. Extension of Repayment Period: I kindly request an extension of the current repayment period, thereby allowing me additional time to fulfill my outstanding debt. With this extension, I assure you that I will make consistent, monthly payments until the entire balance is cleared. 2. Revised Monthly Payment Amount: Alternatively, I propose a revised monthly payment amount that matches my current financial capabilities while ensuring regular installment. This adjusted amount, carefully calculated, will align more closely with my existing income to avoid any further financial strain. 3. Temporary Suspension of Payments: In light of my ongoing financial hardships, I humbly request a temporary suspension of debt payments. This arrangement would allow me to stabilize my finances and overcome the temporary setbacks I am facing. Upon the agreed-upon duration’s conclusion, I commit to resume regular payments swiftly. I understand that any modification made to the original debt payment agreement should be formalized in writing to avoid any misunderstandings. Therefore, I kindly request your assistance in preparing an agreement amendment that clearly outlines the mutually agreed-upon terms, including the revised repayment schedule or the payment suspension period, if applicable. Moreover, I assure you that I will prioritize this outstanding debt and demonstrate unwavering commitment towards fulfillment. I value the trust you have placed in me, and I am devoted to restoring that trust through open communication and timely payment. If you find it necessary to discuss this matter further, please feel free to contact me at your convenience. I am more than willing to provide any additional documentation or details that you may require. Thank you for your understanding and consideration of my circumstances. I am confident that by working together, we can arrive at a solution that allows for a fair and equitable resolution of my outstanding debt. Looking forward to your prompt response. Sincerely, [Your Name] [Your Address] [City, State, ZIP] [Phone Number] [Email Address]
New Hampshire Sample Letter for Agreement to Extend Debt Payment
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The language can be as simple as: In order to settle this matter amicably, I offer you the sum of amount (inclusive of interests and costs) as the full and final settlement of the above claim/debt.
Your debt settlement proposal letter should contain the following:Your current financial situation.Debt settlement offer.Personal information.What you expect in return.Acceptance of the proposal.Acceptance of the proposal upon adjusting (negotiating) the amount to be paid.Rejection of the proposal.
Offer a specific dollar amount that is roughly 30% of your outstanding account balance. The lender will probably counter with a higher percentage or dollar amount. If anything above 50% is suggested, consider trying to settle with a different creditor or simply put the money in savings to help pay future monthly bills.
The limited time window in which debt collectors and creditors can sue debtors for nonpayment of credit card bills in New Hampshire is 3 years. The statute applies to "written contracts" or "open accounts. In most cases, once the statute of limitations on a case "runs out," the legal claim is not valid any longer.
The key is to be thorough in your request for debt verification. In your letter, ask for details on: Why the collector thinks you owe the debt: Ask who the original creditor is and request documentation that verifies you owe the debt, such as a copy of the original contract.
What percentage should I offer a full and final settlement? It depends on what you can afford, but you should offer equal amounts to each creditor as a full and final settlement. For example, if the lump sum you have is 75% of your total debt, you should offer each creditor 75% of the amount you owe them.
The following terms and conditions should be included in a settlement.Original creditor and collection agent's company name.Date the letter was written.Your name.Your account number.Outstanding balance owed on the account (optional)Amount agreed to as settlement.More items...
For most types of debt in England, Wales and Northern Ireland, the limitation period is six years. This applies to most common debt types such as credit or store cards, personal loans, gas or electric arrears, council tax arrears, benefit overpayments, payday loans, rent arrears, catalogues or overdrafts.
A debt collection letter should include the following information:The amount the debtor owes you.The initial due date of the payment.A new due date for the payment, whether ASAP or longer.Instructions on how to pay the debt.More items...?
Frequently Asked Questions (FAQ)Type your letter.Concisely review the main facts.Be polite.Write with your goal in mind.Ask for exactly what you want.Set a deadline.End the letter by stating you will promptly pursue legal remedies if the other party does not meet your demand.Make and keep copies.More items...
