,
Dear Sir, Re:
I really appreciate your company's willingness to work out a debt settlement agreement with me. At present, I am badly short of funds due to (Give explanations why have you defaulted on payments, job loss, illness, etc) and cannot afford the amount you have proposed.
So, I would like to propose a counter offer.
I would like to offer an amount of $ to settle the outstanding debt amount of $with you.
I would also like to request the following conditions as a part of my settlement offer:
I have several debt accounts with other creditors, and will only be able to pay those creditors who are willing to accept a settlement amount that I can afford.
I have enclosed a copy of my financial statements for your consideration.
If my settlement offer is acceptable to you, 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 will send you the money order in the amount I have proposed.
Sincerely,
Your Signature_______________________
Your Name_________________________