Debt Settlement Sample Letters

Written by Jill Morrison
Bookmark and Share

Debt settlement sample letters are available online to offer guidance to those seeking debt relief. A letter may be written to a creditor or collector offering a specific dollar amount to settle an account. This strategy often results in a reduction of the original debt by 40 percent to 80 percent. Sample letters are also available to repair credit with credit bureaus, to request a collection agency to cease and desist contact, and to correct numerous other financial situations.

Value of Debt Settlement Letters

People who are deep in debt may feel comfortable contacting creditors on their own or may wish to consult with a debt settlement company. Viewing sample letters online will provide an understanding of successful strategies for dealing with creditors. If a settlement agreement is made, it must be verified in writing. All correspondence should be sent by registered mail. Debtors have an advantage over creditors when settling debts. Sometimes, several letters are needed before results are obtained.

Other helpful hints are to keep a copy of all correspondence. Make it easy for collectors to respond by including a stamped, self-addressed envelope with all letters. Follow up on all phone conversations with a letter. The wording of letters is important. Debtors should remain calm, patient, and confident. They should be familiar with the statute of limitations in their state.

Settlement companies are an option used by many who experience debt problems. These companies provide experienced negotiators who regularly produce good results. Debt settlement is a time-consuming task that often causes high levels of stress. Settlement companies provide a trustworthy alternative. They negotiate paying off the debt as well as how it will be reported to credit bureaus.


Bookmark and Share