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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:

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

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_________________________