Letter of Acceptance of Verbal Offer - Sample 2

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

[Creditor/Collection Agency Name]
[Address]
[City, State ZIP Code]

RE: Confirmation of Verbal Settlement Agreement - Account #[ACCOUNT NUMBER]

Dear Sir/Madam:

I am writing to formally document and confirm the settlement arrangement discussed in our telephone conversation on [DATE] with [Representative Name].

Settlement Terms:

Account Number: [Account Number]
Original Amount Owed: $[Amount]
Settlement Amount: $[Amount]
Reduction: [Percentage]%

Agreement Summary:

During our phone conversation, your representative [Name] and I agreed to the following settlement of this account:

1. I will pay the sum of $[AMOUNT] as a full and final settlement of account [ACCOUNT NUMBER]
2. Payment shall be made on or before [DATE]
3. Payment method will be [method]
4. Upon receipt and clearance of payment, no further debt will be owed

Credit Report Treatment:

I was advised that:

• The account will be reported as "Settled in Full"
• Collection efforts will stop immediately
• The negative account will be removed from my credit file

Important Documentation:

I require the following written confirmation before making payment:

• Written settlement agreement signed by an authorized representative
• Exact payment instructions including mailing address
• Confirmation of the settlement amount: $[AMOUNT]
• Statement regarding credit report treatment

Payment Plan:

I am prepared to make payment as follows:

• Full payment of $[AMOUNT] will be mailed [timeframe] of receipt of your written agreement
• Payment will be via [certified check/money order/bank transfer]
• I will retain proof of payment

Please send the written settlement agreement to the address shown above within 5 business days of receiving this letter. Upon receipt of the written agreement, I will immediately remit payment.

Thank you for your cooperation in resolving this matter.

Sincerely,

[Your Name]
[Your Signature]