A Debt Settlement Offer Letter is a formal document prepared by a debtor and sent to a creditor with the suggestion to pay back a portion of an outstanding debt. This statement should explain why you cannot pay back the entire sum of money you owe whether it is a lump-sum payment or you have an agreement to pay in installments.
If you want to get rid of negative items on your credit report and possibly take out another loan or obtain a credit card from a different financial institution, first of all, you must handle the debt you currently owe, so a written proposal to the creditor who may agree to forgive your debt can be the first step you take when dealing with the difficult financial situation. You can download a Debt Settlement Letter template through the link below.
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