Example Debt Settlement Letter

Example Debt Settlement Letter -- $8,954 Saved!

One of the major reasons why it's possible for consumers to negotiate directly with their creditors is that settlement offers are a normal part of the collection process. Many creditors extend settlement offers automatically at certain stages in the collection cycle. In this example, the creditor offered to forgive 80% of the debt balance! Naturally, the client was very happy with the savings of $8,954. While settlements in the range of 35% to 50% are more typical, lower percentage deals like this are definitely possible. There was simply no reason for this client to pay $1,679 in fees to a third-party settlement company (based on the industry standard of 15% of the debt balance) when this result happened automatically.

Note: The image file below is a scanned reproduction of a faxed original. The client's name, address, and account information have been deleted to protect their privacy. No other alterations have been made in any way to the originals or the digital images.

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Sample Debt Settlement Letter - 20% Automatic Offer by Creditor

Charles J. Phelan has been helping people become debt-free without bankruptcy since 1997. A former executive in the debt settlement industry, he teaches the do-it-yourself method of debt negotiation. Audio-CD material plus expert personal coaching helps consumers achieve professional results at a fraction of the cost.
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How to Eliminate Your Debts Quickly and Safely Without Filing Bankruptcy

$100,000 in Credit Card Debt: Financial Survival Tactics for High-Balance Debtors & Small Business Owners