Once the payment has been made, no further action will be taken by your party to recover the alleged claim. I will make the full payment with a cash cheque within five days of signing this contract. I understand that if the payment is not made according to the agreed time, this agreement is null and void and the total amount I owe will be due. Once I have made the agreed payment, you will delete all negative information about my credit report and, in the future, you will not place any negative information on my credit report regarding this debt. Please sign the provided copy of this debt compensation letter and send it back to me. Thank you for your kind consideration on this. If you have any questions, I can contact the phone number or email address. Many people may be in a financial position to have more debt than they can realistically pay with their income. There are several reasons why man is on his head in debt, and some of these reasons are good for paying the debt. The best way to reduce the amount they have to pay is to send their creditors a letter of debt repayment.
The letter should clearly state the difficulties that prompted the debtor not to pay his debts. Receive each debt account in writing and signed by the person concerned. This includes the date on which the agreed amount must be paid in full. If the creditor has agreed to settle the debt over the phone, the difficulties should not be mentioned in the letter. Here are some tips for writing the debt clearing letter: if no debt settlement is proposed, the creditor must hire a collection office, or even go to court, which he wants to avoid doing both. It should be written in the form of an official business letter and addressed to the creditor or the person responsible for repaying the debt. Below is a model of a debt settlement letter, based on a previous interview in which the creditor agreed to the terms of the debt settlement. High medical calculations for a family member`s person – Reduced working time with corresponding salary reduction – Reduced income for the individual or spouse for any reason – Business relocation due to employment – Professional retention – Divorce or separation – Family death – Significant property damage due to fire, floods or other natural disasters to lag behind in debt payment , including: the letter must indicate the facts and not be a place where the debtor complains about his difficulties and constantly complains about his problems.