Acceptance of debt settlement offerIf you've negotiated your debt with your creditor or collection agency, you need to confirm the offer in writing and get the creditor's signature prior to making any payment. This is when a Letter of Acceptance of Verbal (Debt Settlement) Offer can help. Given below is a sample format of such a letter. Letter of Acceptance of Verbal Offer (debt settlement) Your Name
Your Address Your Phone #
Creditor's Name
Department Creditor's Address
Date
Re: Account Number__________ This letter is to confirm the debt settlement offer made between myself and your customer service representative (over the phone) on [date]. I appreciate that your company has agreed to work with me in settling my debt. The amount that your representative and I have agreed upon to settle the debt in full is $___________. I would appreciate if you co-ordinate with the credit bureaus and remove any negative entry related to this account. It'll actually help me regain a perfect credit rating. I hope you'll find the above terms acceptable. If it is so, please sign this letter of acceptance and return a copy to me. As soon as I receive this signed acknowledged agreement, I shall forward you the settlement amount (as stated above) through a money order. Yours truly, Your Signature Your Name Please Note: The Letter of Acceptance should be attached to your Debt Settlement Agreement Letter. |
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