The sample letter below is intended to be used as a debt negotiation letter to creditors.
VIA CERTIFIED MAIL RRR # (PUT THE NUMBER OF THE CERTIFIED MAIL RECEIPT HERE)
YOUR NAME
YOUR ADDRESS
CITY, STATE, ZIP CODE
Today's Date
Place collector's name here
Collectors address
Collectors city, state, zip
RE: Acct.# 5555554441
Dear (who ever you spoke with):
As we discussed, I became unemployed and was no longer able to pay on my account. As a result, the above-mentioned account was sent to collections (or charged off) by your company.
Since then, I have obtained a very rewarding and stable job. I would now like to either resume payments on this account at $(however much) per month, or simply pay the account in full.
I recently obtained a copy of my credit report and noted that your company has reported this account as: (delinquent, sent to collections). I wish to bring this account or matter to a resolution that will be fair, and beneficial for both of us. I hereby propose to pay you: X monthly payments of $money, or remit a check to you in the amount of $debt as payment in full provided you are willing to send me a letter stating you will report this to any and all credit reporting agencies as: 'PAID AS AGREED' or notify me in writing that you agree to delete this item from any and all credit reporting agencies.
Due to the inequities of the system I AM NOT agreeable to accepting a 'PAID P & L' or 'CHARGE OFF' for an additional amount of time on my credit report. It is my position that I have suffered enough as a result of this problem.
Upon receipt of your letter I will forward you a cashier's check or money order in the amount of(Agreed $$$).
Yours Truly,
Your signature / Today's date (signed)
Your name / Today's date (printed)
