It is highly recommended that the notary`s agreement be certified and signed, or at least by an impartial third party. Additional payment. After payment by the debtor, the creditor does everything in its power to withdraw unpaid debts from the credit institutions. In addition, the creditor states that it will not provide any additional information that could adversely affect the debtor`s credit report. The debt settlement contract is a contract between a creditor and a debtor to renegotiate or compromise a debt. This is usually the case when a person intends to make a final payment for a debt owed. The debtor proposes a payment less than the outstanding (usually between 50% and 70%) if payment can be made immediately. I would be very grateful if you would accept my letter of approval and send me a letter of confirmation as proof of the acceptance of this letter. The first payment of the amount was attached to this letter.
But later, when my financial stability increases, I`ll get in touch with you as soon as possible. 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. 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. Payment agreements can also be concluded between private parties. Friends, family and co-workers can use all of these documents to ensure fair trade when lending or accepting money. 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. This is an official confirmation of our phone conversation on DATE regarding the payment of my debts.