National Debt Relief ProgramDebt Settlement Legal LettersSample Letter 1(Creditor’s name), the Creditor/Creditor’s Representative and (debtor’s name), the Debtor agree to negotiate and settle the debt under the following terms and conditions.The Creditor and Debtor agree that the current outstanding debt is . Both parties agree that the Creditor will accept a cash payment of $_________ towards settlement of the debt in full. The Creditor agrees to compromise the debt under the condition that he’ll receive the payment by [date].If the Debtor fails to send in the amount agreed by , the Creditor shall immediately demand the payment of the original amount owed by the Debtor. (Creditor’s name) also declares that he is authorized to act as an agent of the Creditor’s company.This agreement for debt settlement shall be binding upon the Creditor, Debtor and their successors and assignees.Dated:Signature: (Creditor’s name),CreditorSignature(Debt credit repair or’s name),DebtorDebt Settlement Legal LettersSample Letter 2Your NameYour AddressYour Phone #Creditor’s NameDepartmentCreditor’s AddressDate Dear Creditor,Re: Account Number__________In response to my recent conversation with your customer service representative, I’d like to present a complete assessment of my financial situation.Unfortunately, I have a lot of debt and not enough funds to pay all my creditors. So, I’ll be able to negotiate and settle debt with a few creditors only. I have enclosed a copy of my financial statement with details of my monthly income and expenses. This will help you assess my financial situation and give you an idea as to why I have requested a debt settlement.The final debt amount that we agreed upon is $_________. As part of the settlement agreement, I request you to co-ordinate with the credit bureaus in order to remove negative entry (late payment, collections etc) on my account from the credit report.
