Today's
Date (dd-mm-yyyy)
Your Name
Your Address
Debt Collector's Name
Debt Collector's Address
RE: (Account # of Debt Owed, Customer
Name & Type of Debt)
Mr/Mrs. Debt Collector,
I have made regular on-time monthly
payments on the above referenced debt since our initial
debt negotiation date ____ (dd-mm-yyyy). According to
my records, I have made __## payments of _____$ each
leaving a principal balance of $_____.
I would love to make monthly payments
on this debt and pay it off as soon as I can. However,
I cannot afford the new higher monthly payment that
you are demanding. Unless you agree to continue receiving
my lower monthly payments, I will be forced to terminate
our relationship. Since I am officially contacting you
to settle this debt at a lower rate or terminate our
relationship, you can now contact me under 2 circumstances
only:
- To inform me that you accept my
original offer of the lower monthly payment $$___/month
- You intend to pursue my case in
court or are taking legal action against me.
If you do decide to pursue this case
in court, be aware that I have maintained detailed records
of our financial relationship and have made every effort
to make regular on-time payments. However, I simply
cannot afford the new higher monthly payment that you
are demanding. The judge will decipher this and know
that I have acted in good faith in this relationship,
and will rule the case in my favour.
I am not a chicken to run away from
my debts. This is why I am contacting you with this
letter. Thank you for your understanding.
Sincerely,
(Your Signature)
(Your Printed Name) |
