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Dear Creditor,
Re: Account No.
This is to confirm the settlement offer agreed upon by me and your customer service representative [name], [phone no.] on [date.].
I really appreciate that your company is willing to work with me in settling this debt. The amount we agreed to settle this debt in full is $_____. However, any references to late payment or charge offs on this account should be removed from my credit file.
If the above terms are acceptable to your company, please sign the attached letter of agreement and return the copy to me. Only upon the receipt of the ‘signed agreement’, I will send you a money order in the amount stated above.
Yours truly,
Your Signature
Your Name
Enclosure:
Example 2
Once you have settled debt repayment plans with a collection agency or a creditor's firm you need to have a copy of accepted terms and settlement issues as a document with a company representative's signature on it. This document is a must for your records before you start with any monetary transactions. This letter is best combined with the "Agreement to settle a debt" letter.
Dear Creditor,
Re: Account Number
Date:
In response to the mutual settlement between myself and your customer service representative, [phone number], made on [date], this is a letter of confirmation regarding the acceptance of verbal offer.
I'm very impressed with your company's kind consideration and willingness to work out the matter with me and help me in all earnest to settle this debt. Your support will be of immense help to me in settling this debt issue, which I wanted to resolve for a long time now.
The final amount we mutually agreed upon is $........... I also request you to take into consideration the fact that we also agreed that all my interest rates, late fees or any reference to them are to be eliminated from my credit report.
Keeping in mind my fruitful negotiation with your customer service representative, I hope that the above terms and conditions are acceptable to your company. On accepting my proposals please sign the attached letter to confirm our agreement and forward me a copy of the same with your signature. On receiving your approval letter I will send you a money order with valuation of the amount stated above.
Thanking you in anticipation.
Yours truly,
Your Signature
Your Name
Enclosure:
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