Mecklenburg North Carolina Sample Letter for Compromise on a Debt

• Category: Letters - Nonlegal - Collections
• State: Multi-State
• County: Mecklenburg
• Control #: US-0163LR
• 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] [Debt Collection Agency Name] [Address] [City, State, ZIP] Subject: [Account Number/Debt Reference] Dear [Debt Collection Agency Name], I hope this letter finds you well. I am writing to discuss a potential compromise regarding the outstanding debt that I owe to your agency. I understand that [Debt Amount] is currently owed, but due to [explain your financial hardship], I find it challenging to meet the full payment obligations at this time. Based on my research, I have come across the option of entering into a debt compromise agreement, which could potentially benefit both parties involved. As a resident of Mecklenburg, North Carolina, I kindly request your consideration for the following proposed compromise: 1. Debt Amount Reduction: I kindly request a reduction in the total amount owed, which would alleviate a significant burden on my financial situation. After evaluating my current circumstances, I propose a reduced amount of [Proposed Reduced Amount] as a compromise to settle the debt in full. 2. Flexible Repayment Terms: Considering that my financial situation is currently constrained, I request flexible repayment terms that I can adhere to. This could include a monthly payment plan with lower installments or an extended repayment period, allowing me to meet the obligations without further straining my financial resources. 3. Waiving of Late Fees and Penalties: To facilitate the successful repayment of the compromised debt amount, I kindly ask for the waiver of any late fees, penalties, or additional charges associated with the original debt. By doing so, it will enable me to focus on repaying the principal amount in a timely manner. 4. Confirmation of Termination of Debt Obligation: Upon the successful completion of the proposed repayment plan, I kindly request a written confirmation from your agency stating that the debt has been fully satisfied and that no further collection or legal actions will be pursued. I must emphasize that my intention is to honor my financial obligations, and I genuinely seek a mutually beneficial resolution to this matter. Although I fully understand that your agency may not be obligated to accept this compromise, I believe it is in everyone's best interest to consider alternatives that allow for debt resolution without undue hardship on either party. Please find enclosed the necessary financial documents and supporting evidence that highlight my financial constraints. I kindly request that you carefully review my proposal and respond in writing within [reasonable timeframe, e.g., 30 days] to indicate whether you are willing to accept the proposed compromise. Should you require any additional information or if there is room for negotiation, I am open to discussing possible alternative solutions that could address both our concerns. Thank you for your time and attention to this matter. I genuinely hope that we can reach a fair compromise that allows me to settle my debt while alleviating any financial burdens on my end. I look forward to your prompt response. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Debt Collection Agency Name] [Address] [City, State, ZIP] Subject: [Account Number/Debt Reference] Dear [Debt Collection Agency Name], I hope this letter finds you well. I am writing to discuss a potential compromise regarding the outstanding debt that I owe to your agency. I understand that [Debt Amount] is currently owed, but due to [explain your financial hardship], I find it challenging to meet the full payment obligations at this time. Based on my research, I have come across the option of entering into a debt compromise agreement, which could potentially benefit both parties involved. As a resident of Mecklenburg, North Carolina, I kindly request your consideration for the following proposed compromise: 1. Debt Amount Reduction: I kindly request a reduction in the total amount owed, which would alleviate a significant burden on my financial situation. After evaluating my current circumstances, I propose a reduced amount of [Proposed Reduced Amount] as a compromise to settle the debt in full. 2. Flexible Repayment Terms: Considering that my financial situation is currently constrained, I request flexible repayment terms that I can adhere to. This could include a monthly payment plan with lower installments or an extended repayment period, allowing me to meet the obligations without further straining my financial resources. 3. Waiving of Late Fees and Penalties: To facilitate the successful repayment of the compromised debt amount, I kindly ask for the waiver of any late fees, penalties, or additional charges associated with the original debt. By doing so, it will enable me to focus on repaying the principal amount in a timely manner. 4. Confirmation of Termination of Debt Obligation: Upon the successful completion of the proposed repayment plan, I kindly request a written confirmation from your agency stating that the debt has been fully satisfied and that no further collection or legal actions will be pursued. I must emphasize that my intention is to honor my financial obligations, and I genuinely seek a mutually beneficial resolution to this matter. Although I fully understand that your agency may not be obligated to accept this compromise, I believe it is in everyone's best interest to consider alternatives that allow for debt resolution without undue hardship on either party. Please find enclosed the necessary financial documents and supporting evidence that highlight my financial constraints. I kindly request that you carefully review my proposal and respond in writing within [reasonable timeframe, e.g., 30 days] to indicate whether you are willing to accept the proposed compromise. Should you require any additional information or if there is room for negotiation, I am open to discussing possible alternative solutions that could address both our concerns. Thank you for your time and attention to this matter. I genuinely hope that we can reach a fair compromise that allows me to settle my debt while alleviating any financial burdens on my end. I look forward to your prompt response. Sincerely, [Your Name]