Letter of Acceptance of Verbal Offer - Sample 1

[Your Name]
[Your Address]
[City, State ZIP Code]
[Date]

[Creditor/Collection Agency Name]
[Attn: Settlement Representative Name]
[Address]
[City, State ZIP Code]

RE: Acceptance of Verbal Settlement Offer - Account #[ACCOUNT NUMBER]

Dear [Representative Name]:

I am writing to formally confirm my acceptance of the settlement offer I discussed with you verbally on [DATE].

Settlement Agreement Details:

• Original Creditor: [Creditor Name]
• Account Number: [Account Number]
• Current Outstanding Balance: $[Amount]
• Settlement Amount Agreed: $[Settlement Amount]
• Settlement Percentage: [Percentage]% of original balance
• Agreed Settlement Representative: [Name and Title]
• Phone Call Date: [Date]
• Time of Call: [Time]

Payment Terms I Have Agreed To:

• Settlement Amount: $[Amount]
• Payment Date: [Specific date or within X days]
• Payment Method: [Certified check/Money order/Bank transfer]
• Payment will be mailed/sent to: [Address or instructions provided]

Conditions of Settlement:

As discussed, this settlement is conditioned upon the following:

• This settlement represents full and final payment of the account
• No further debt will be owed after this payment
• The account will be marked "Settled in Full" on my credit report
• All collection efforts will cease immediately
• This negative account entry will be removed from credit reporting agencies

Next Steps:

I request that you:

• Send me a written confirmation of this settlement agreement within 5 business days
• Provide the mailing address for payment
• Provide specific payment instructions
• Confirm the settlement amount will be $[Amount]

Once I receive the written settlement agreement, I will make the full payment of $[Amount] immediately.

Thank you for working with me to resolve this matter.

Sincerely,

[Your Name]
[Your Signature]