A Debt Forgiveness Letter is a formal document that informs the recipient they no longer have to pay the sum of money owed to the letter writer.
Whether you represent a financial institution that decided to make life easier for their client, you want to relieve a debtor of their financial liability due to extenuating circumstances, or you are prepared to meet the other parent of your child halfway and forgive their debt, use the appropriate template to notify the other party they do not owe you any money anymore.
While each Forgiveness of Debt Letter is unique and the person or entity that drafts it is encouraged to customize it to add a personal touch and include whatever details you consider necessary. However, at a minimum, your message must identify you or the company you represent, greet the individual whose debt you are prepared to forgive or settle, confirm your preparedness to cancel their financial obligations, indicate the amount of money the recipient of the letter has paid you already and the amount of money you are ready to forgive.
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