Subject: Request for Response to Settlement Offer — Your Cooperation is Appreciated [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Position] [Law Firm/Company Name] [Address] [City, State, ZIP] Dear [Recipient's Name], I hope this letter finds you well. I am writing to formally request your response in relation to the settlement offer extended to us by your esteemed [Law Firm/Company Name]. As a resident of New Mexico, I am determined to ensure a fair resolution to the matter currently under consideration. I understand that the successful conclusion of this settlement is a crucial step towards reaching a mutually beneficial agreement, and thus the importance of clear communication and cooperation cannot be overstated. With that in mind, I kindly request your immediate attention and response to this letter, as well as the enclosed settlement offer documents. To provide some context, I recently received a settlement offer from your firm pertaining to a legal matter I have been involved in. Although I appreciate the efforts taken thus far to reach an agreement, I would like to request further clarification and discuss certain terms outlined in the proposal. Outlined below are a few specific topics, but not limited to, that I would like to address: 1. Terms and Conditions: It is essential for both parties to have a comprehensive understanding of the terms and conditions to ensure a fair and equitable resolution. I kindly request a detailed explanation of the terms proposed in the settlement offer. 2. Timelines and Deadlines: In order to efficiently proceed with this settlement negotiation, I would appreciate receiving clear timelines and deadlines associated with each stage of this process. This will help me make informed decisions and facilitate open and prompt discussions. 3. Documentation Support: Please provide me with all relevant documentation and evidence supporting your settlement offer. By reviewing these materials, I will be able to further evaluate the offer’s legitimacy and credibility. 4. Potential Amendments: Should we find certain terms in the settlement offer to be unfeasible or unjust, I welcome the opportunity to negotiate possible amendments. My primary objective is to reach a fair agreement that is in the best interest of all parties involved. By responding to this letter, you will enable me to better understand the proposed settlement offer, seek appropriate legal counsel, and engage in a meaningful discussion with you to potentially bring this matter to an amicable resolution. Therefore, I kindly request your prompt response within [reasonable timeframe] of receiving this letter. Thank you for your attention to this matter and for your cooperation. I believe that by working together transparently and respectfully, we can reach a settlement that is satisfactory to both parties involved. I look forward to hearing from you soon. Please feel free to contact me at [your phone number] or [your email address] should you require any further information or wish to discuss this matter in more detail. Yours sincerely, [Your Name]
New Mexico Sample Letter for Request to Respond to Settlement Offer
Description
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FAQ
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 $ .
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.
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 am writing about the money which you are claiming on the above account. I can confirm that I am unable to pay the money which I owe in full. Include a paragraph explaining your circumstances and details of your financial situation that you want the creditor to take into account.
To respond to a low settlement offer, evaluate the reasons for the offer. Determine the accurate value of the claim and the amount you are willing to accept to resolve it. Create a demand letter, provide more information or continue to pursue your legal claim as appropriate based on the circumstances.
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.
As agreed upon mutually, I confirm that I'll be paying $ towards settlement of my debt in full. As part of the settlement, I request you to remove any negative listing (late payment, collection etc) on this account from my credit file. I hope the above terms and conditions are acceptable to your company.
In response to your letter dated [Date of Insurer's Letter], I am unable to accept your offer of $[Offer Amount] to settle my demand for compensation in Claim Number [Claim Number from Above]. The figure you offered is insufficient in light of the facts of the case.
