Sample Debt Settlement Letter - 40% Confirmation Letter from Creditor

When you settle a debt account, it's vitally imporant to document everything correctly so there can be no problem or misunderstanding later on. This is a good example of a confirmation letter received after negotiating a settlement by telephone. With a balance due of $9,431, the creditor accepted $3,773 to settle the account. This is a 40% settlement and a savings of $5,658 to the client. Since the client did this entirely on his own, he did not have to pay the usual fee of $1,415 (based on 15% of the debt) to a professional negotiator. Again, the creditor was willing to accept this deal because they made a simple business decision to cut their losses. Even with the new bankruptcy law in force, a creditor still risks losing 100% of the debt if they refuse to settle for a reasonable amount and the client ends up in Chapter 7 bankruptcy. And if the client files a Chapter 13 bankruptcy, the creditor will rarely collect more than 50% anyway (to be paid over FIVE YEARS). This is why thousands of debt settlements happen daily across the country.

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 - 40% Settlement Negotiated by Client

Sample Debt Settlement Letter -- $5,658 Saved!