[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Re: Settlement Offer — Authorization of Settlement Offer Dear [Debtor's Name], I hope this letter finds you well. I am writing to authorize the settlement offer we recently discussed related to the outstanding debt of [EX] owed to [Creditor's Name]. As per our negotiations, I propose the following terms for the settlement: 1. Settlement Amount: The agreed settlement amount is $[X]. Please note that this amount represents a discounted portion of the total debt and includes all outstanding interest and charges. 2. Payment Method: You have the option to settle the amount in full via a single payment or through installments. If you choose the installment option, please see the attached proposed payment plan detailing the number of payments and their respective due dates. 3. Release of Claims: Upon receipt of the settlement amount, [Creditor's Name] will consider the debt fully satisfied and release all claims related to this outstanding debt. Furthermore, both parties agree to not engage in any further legal action or pursue additional monetary compensation related to this matter. 4. Confirmation of Payment: Once the settlement amount is received, [Creditor's Name] will provide written confirmation of payment within [number of days]. 5. Credit Reporting: [Creditor's Name] will update the credit reporting agencies to reflect the debt as "settled" or "paid in full" once the settlement amount is received, ensuring the accurate and fair representation of your credit history. 6. Confidentiality: Both parties agree to keep the terms and conditions of this settlement confidential and shall not disclose any information pertaining to this agreement unless required by law or with prior written consent from the other party. To accept this settlement offer, please sign and return a copy of this letter within [number of days] from the date of this letter. Additionally, kindly indicate your preferred payment method and include any necessary documentation such as bank details for electronic transfer or mailing address for check payments. Should you have any questions or require further clarification, please do not hesitate to contact me at [Phone Number] or via email at [Email Address]. I encourage you to consider this settlement offer as an amicable resolution that allows both parties to avoid the burden of prolonged litigation. Thank you for your prompt attention to this matter. I look forward to receiving your acceptance of the settlement offer and working towards the resolution of this debt. Sincerely, [Your Name] Enclosures: — Proposed Payment Plan (if applicable)
South Dakota Sample Letter for Settlement offer - Authorization of Settlement Offer
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How to fill out South Dakota Sample Letter For Settlement Offer - Authorization Of Settlement Offer?
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FAQ
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.
This is a formal letter that should include: A summary of the original incident with any factual disputes highlighted. Evidence to support the version of events provided in the Settlement Demand Letter. An outline of any relevant legal standards that apply to the matter. A settlement offer and terms/timeline for acceptance.
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 $ .
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.
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.
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.
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.