How to counter a debt settlement offerA counter offer for debt settlement is what you propose to pay your creditors/collection agency in response to the offer they make for payment of your debt in full. A sample counter offer letter for settlement is given below for your reference. It should be attached to the Debt Settlement Agreement Letter sent to your creditor. Counter Offer Settlement Letter to creditor Your Name
Your Address Your Phone #
Creditor's Name
Department Creditor's Address
Date
Re: Account Number__________ I appreciate that your company is willing to work with me in settling my debt and paying it off. This letter is to make a counter offer in response to the settlement offer made by your customer service representative (over the phone) on [date]. The amount that I would propose to settle the debt in full is $_________. However, I would request you to remove any late payment entry or charge-offs on this account from my credit report. I'd like to inform you that I have several debt accounts with other creditors as well. Unfortunately, I have limited amount of funds. So, I can pay only those creditors who are willing to meet my terms. I have already reached mutually agreeable settlements with a few creditors and I doubt whether I'll have enough funds to pay everyone. If your company is willing to accept my proposal, please sign the attached letter of agreement and return a copy of the same to me. As soon as I receive this signed acknowledged agreement, I shall send you the money order in the amount I've proposed. Yours truly, Your Signature Your Name |
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