Houston Texas Sample Letter for Agreement to Compromise Debt

• Category: Letters - Nonlegal - Agreements
• State: Multi-State
• City: Houston
• 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. Houston Texas Sample Letter for Agreement to Compromise Debt: [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Agreement to Compromise Debt Dear [Debtor's Name], I hope this letter finds you well. We are writing in regard to the outstanding debt you owe to [Your Company/Organization]. We understand that financial difficulties can arise, and we would like to propose a solution that benefits both parties involved. After careful consideration, we are willing to compromise the total amount owed to [Your Company/Organization] in order to resolve this debt amicably and avoid any legal action. We believe that finding a mutually beneficial agreement is in the best interest of both parties, and it can provide you with an opportunity to settle the debt and move forward. In light of your financial circumstances, we propose the following terms for the debt compromise agreement: 1. Debt Amount: The total amount owed to [Your Company/Organization], which currently stands at $[Debt Amount], will be compromised to $[Proposed Amount] upon acceptance of this agreement. 2. Payment Terms: We understand that paying the compromised debt in a lump sum might be challenging for you. Thus, we are willing to offer a flexible repayment plan. You may choose one of the following options: a. Option 1: Pay $[Agreed Amount] within [Number of Months] months in equal monthly installments, starting from [Date of First Payment]. b. Option 2: Pay $[Agreed Amount] in full on or before [Date], receiving a [Percentage]% discount on the compromised debt. 3. Proof of Payment: You are required to provide [Your Company/Organization] with appropriate documentation of payment. Once the payment is received in full, we will issue a written confirmation of debt settlement, relieving you of any further obligations related to this debt. 4. Confidentiality: Both parties agree to keep the terms and details of this agreement strictly confidential, not disclosing any information to third parties without prior written consent from the other party involved. Please note that this proposed agreement is a final settlement attempt, and failure to accept or adhere to the agreed terms may lead us to pursue legal avenues to recover the full amount owed. To accept this agreement, please sign and date a copy of this letter and return it to [Your Company/Organization] within [Number of Days] days of receiving this letter. Should you have any questions or need further clarification, please do not hesitate to contact us at the provided email address or phone number. Thank you for your prompt attention to this matter. We believe that this agreement will help us resolve the outstanding debt efficiently while providing you with an opportunity for financial relief. Sincerely, [Your Name] [Your Title] [Your Company/Organization]

Houston Texas Sample Letter for Agreement to Compromise Debt: [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debtor's Name] [Debtor's Address] [City, State, ZIP] Subject: Agreement to Compromise Debt Dear [Debtor's Name], I hope this letter finds you well. We are writing in regard to the outstanding debt you owe to [Your Company/Organization]. We understand that financial difficulties can arise, and we would like to propose a solution that benefits both parties involved. After careful consideration, we are willing to compromise the total amount owed to [Your Company/Organization] in order to resolve this debt amicably and avoid any legal action. We believe that finding a mutually beneficial agreement is in the best interest of both parties, and it can provide you with an opportunity to settle the debt and move forward. In light of your financial circumstances, we propose the following terms for the debt compromise agreement: 1. Debt Amount: The total amount owed to [Your Company/Organization], which currently stands at $[Debt Amount], will be compromised to $[Proposed Amount] upon acceptance of this agreement. 2. Payment Terms: We understand that paying the compromised debt in a lump sum might be challenging for you. Thus, we are willing to offer a flexible repayment plan. You may choose one of the following options: a. Option 1: Pay $[Agreed Amount] within [Number of Months] months in equal monthly installments, starting from [Date of First Payment]. b. Option 2: Pay $[Agreed Amount] in full on or before [Date], receiving a [Percentage]% discount on the compromised debt. 3. Proof of Payment: You are required to provide [Your Company/Organization] with appropriate documentation of payment. Once the payment is received in full, we will issue a written confirmation of debt settlement, relieving you of any further obligations related to this debt. 4. Confidentiality: Both parties agree to keep the terms and details of this agreement strictly confidential, not disclosing any information to third parties without prior written consent from the other party involved. Please note that this proposed agreement is a final settlement attempt, and failure to accept or adhere to the agreed terms may lead us to pursue legal avenues to recover the full amount owed. To accept this agreement, please sign and date a copy of this letter and return it to [Your Company/Organization] within [Number of Days] days of receiving this letter. Should you have any questions or need further clarification, please do not hesitate to contact us at the provided email address or phone number. Thank you for your prompt attention to this matter. We believe that this agreement will help us resolve the outstanding debt efficiently while providing you with an opportunity for financial relief. Sincerely, [Your Name] [Your Title] [Your Company/Organization]