Sample Debt Forgiveness Letter

Sample Debt Forgiveness Letter

If you are in a situation where you will not be able to repay the full amount due for a credit card or bank loan, you will need to write a Debt Forgiveness Letter . In this letter you will explain your situation and why you feel you are unable to repay the remaining balance.

A person could find themself in this situation due to unforeseen events, such as a loss of income, unexpected medical bills, natural disaster, or a failed business. A Debt Forgiveness Letter Sample can be found through the link below.

When writing a Debt Forgiveness Letter, include the following details:

  1. Your name and mailing information.

  2. Today's Date.

  3. Name of the creditor.

  4. Memo line explaining what the letter is about.

  5. Opening salutation.

  6. Explanation about the nature of the letter and that you will not be able to repay the full amount of debt owed, and whether you are requesting full or partial debt forgiveness.

    • You will want to give a clear and full description why you are unable to repay the amount and if you previously had a reliable track record of timely payments.
  7. Close by providing the best way to contact you.

  8. Closing salutation and signature.

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