Debt settlement. It is understood by the parties that the debtor has an unpaid debt to the creditor. By mutual interest of the parties, they agree that this unpaid debt will be labeled as paid when the debtor has to pay $_____ the creditor agrees to remove all harmful reservations from the debtor`s credit information. If you feel like you`re being harassed by a creditor, you can use this letter to ask them to reduce the number of calls they make to you. You might want to add more information about the impact of calls on you. If you are able to pay less than the agreed monthly agreement for a short period of time, you can send a temporary payment letter to creditors. Add details about how much you can pay and how long. On our recurring payment cancellation page, your rights are explained in more detail. However, if the original creditor is a large bank, you can make a small exception to this rule. Major credit card issuers will say they will send a contract after receiving a payment.
If they don`t turn away from this directive, open a new checking account with your bank or credit union. If you have a structured settlement, place the first payment on this special account. Allow the original creditor to make a payment from the new account. If the original creditor sends you a transaction contract, continue to fund the account as agreed. If they don`t send you a letter, talk to the Attorney General`s Office, the FTC, and a lawyer in your state who has experience in consumer law. Think about your budget so you can`t overdo it for your accounts. If you`re negotiating structured billing, give yourself enough time to make each payment. Be prepared to give up bad offers or offers that you can`t afford. Both parties are required to abide by the rules and regulations of the agreement, which benefits the parties, their successors and assigns. If this is agreed, agree that you or an associated company may not take any further action against me to enforce or recover this requirement and that I will be exempt from any liability. A structured settlement consists of a predetermined set of payments over a predefined period of time. Once the payment has been made, no further action is taken by you to collect the alleged debt.
I will make the payment with a cashier`s cheque within five days of signing this agreement. I understand that if the payment is not made in accordance with the agreed period, this agreement is void and not void and that the total amount I owe is due. Once I have made the agreed payment, you will erase any negative information contained in my credit information and do not put negative information about this debt in my credit information in the future. Please sign the attached copy of this letter on the debt settlement agreement and send it back to me. Thank you for your kind consideration on this matter. If you have any questions, you can reach me at the phone number or email address. You can use our downloadable form letters to inform your creditors that you cannot afford to track payments, request a temporary payment arrangement, file a complaint, or obtain information that can help you manage your debts.