Unsolicited Debt Settlement offer

With a debt settlement offer, you propose to pay your creditors a reduced sum of money instead of the entire outstanding amount. When you take the initiative to propose a settlement offer to the creditor, the debt settlement offer is termed unsolicited debt settlement offer.

If you are not sure about what an unsolicited debt settlement offer should look like, here is a sample that will help you understand how you should propose a debt settlement:

Your Name
Address
City, State, Zip
Home Phone

(Creditor's Name)
(Address)
(City, State, Zip)

Date

Dear Sir,

RE:
(Creditor's Account Number)

This is to inform you that I, would like to settle my outstanding debt with your company.

Currently, I owe you an outstanding debt balance of $________. I am interest in repaying the debt, but unfortunately, at present my funds are limited due to (Give explanation why have you defaulted on payments, job loss, illness, etc).

So, I propose an amount of $__________to settle the outstanding debt amount of $_________with you.

I also request the following conditions be included as a part of my settlement offer:

1. My account will show "paid in full" with no future money owed on the account listed above.
2. Any lawsuit filed against me will be cancelled, and no future litigation related to this account will be filed against me.
3. All the negative listings related to my account, will be removed from the credit bureaus.

I have several debt accounts with other creditors, and am currently negotiating my debts with them. I will only be able to pay those creditors who are willing to agree to a settlement.

I have enclosed a copy of my financial statements for your consideration.

If you are willing to accept my proposal, then please sign the debt settlement agreement enclosed with this letter and return a copy of the agreement to me.

As soon as I receive the signed agreement from you, I shall send you the money order in the amount I have proposed.

Sincerely

Your Signature_______________________

Your Name__________________________