Where are debt letter templates for Settlements

There are some sample letters here, but it doesn't look like any of them are appropriate for the initial offer:

http://www.debtconsolidationcare.com/letters/

You should read Nascardevil's post about negotiating with creditors. He recommends doing it on the phone, rather than by letter (and then following up with the agreement in writing):

http://www.debtconsolidationcare.com/settlement/how-to-negotiate.html

Thank you for the info, here's the thing I am still paying on my debt a few are over their limit but none have ever been late. I am trying to figure out what to do. Everything I have read is when people have stopped paying on them for a while. Any ideas?

If you are able to keep up with your minimum payments, then debt settlement may not be the right option for you. Creditors will usually not agree to settle for less than the full balance due as long as you are making your payments. They are getting their money and making a lot in interest, so they really have no incentive to settle. Once you are a few months behind, and if you have a hardship that they feel makes you a risk for bankruptcy or for completely defaulting on your balance, then they are more likely to settle and at least get something from you. However, your credit rating will probably suffer because you will have to be behind on your bills.

Have you looked into a debt management plan? You can go to nfcc.org to find non-profit Consumer credit counseling Services in your area. They will give you a free consultation, in person, or on the phone. You would pay them and then they would pay your creditors each month. Your payments would probably not be much (or any) less than what you are currently paying, but they might be able to get your interest rates lowered, and you would have your debts paid off sooner.

Alright, thanks again its just that I am only making minimum and with some being over the limit already they hit me with that fee too so it just keeps getting higher and higher. I definitely have a hardship

Most of the credit card companies also have hardship programs. However, they won't generally offer them to you until you are behind on your payments. Once I started falling behind and the collection calls started, most of them were eager to offer hardship programs in exchange for my agreement to make regular payments. It depends on the creditor, but most of them offered to lower the interest rate to somewhere between 0% and 10%, waive the late fees, and lower the minimum monthly payment amount to 1% of the outstanding balance. The programs are temporary though, usually for six to twelve months. And they will want you to explain what your hardship is (in our case, it was loss of income).

yeah mine is loss of income, divorce and two kids with autism that keep me for being able to work

May it help you in writing one : :D

[LEFT]1. Subject Line Request - Right off the bat let the loss mitigator know what you are requesting.

2. Brevity ??? Don???t let your financial hardship letter go on for page after page. Keep it as short as possible.

3. Personal - Let the loss mitigator get to know you and your circumstances.

4. Clarity ??? Get your points across in the clearest possible way and then provide a summary.

5. Information ??? Make sure you leave nothing out of your financial hardship letter. Attach important information such as bank statements, cash flow documents, income tax statements, letters of reference, etc.

6. Be Appreciative ??? The person reading this financial hardship letter did not get you into this mess but he or she is the one that can help you out of it. So be thankful and humble in your tone.

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The hardship letter is not the only tool in your chest for a financial reprieve but it is by far one of the most important. So make it your prime instrument when dealing with the bank and get it in soon. ;)