Debt settlement articles

A lump sum debt settlement letter offer will give us a better chance of obtaining a larger discount, a well written and well formatted letter will go a long way. There are many examples of settlement letters on the net, I will explain what this letter should look like.

Before we reach the stage of sending a settlement letter we have had many discussions with our original creditor or collector and have a feel for what we think they will accept. As I said before a lump sum letter carries more weight than a letter proposing to pay in installments. A letter offering to settle unsecured credit card debt should be formatted in the following fashion:

- The current date.
- Your complete name as it appears on the credit card.
- Your current address.
- The name of the company or agency whom we are sending letter to.
- Address of company or agency we are mailing letter to.
- Original account number we are sending letter about.
- Body of letter. It should look something like this:

XYZ creditor or collection agency,

In an effort to save all of us a great deal of time and expense I´m offering to settle this account for $x,xxx.xx in one lump sum payment due on 7-15-2010.

If you accept my offer, please send written confirmation to my PO Box address. Once I receive your written confirmation, I will make payment to your organization by phone. However, please understand that I will not make any payments until receiving written confirmation that you accept my offer.

Sincerely,
XXX XXXX

This letter is precise and to the point, it is not complicated to write or to amend; changes can be made to it depending on the situation. Nevertheless this is the model to follow when writing to a creditor or collector when offering a lump sum debt settlement.