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Home > Does Anybody Have Any Sample Letters To Creditors For Debt Negotiation?

Does Anybody Have Any Sample Letters To Creditors For Debt Negotiation?

August 21st, 2008 at 12:20 am

I would like sample letters from people who are successfully doing there own debt negotiation. I would really appreciate that. Thanks.

Posted in Uncategorized | 12 Comments »

12 Responses to “Does Anybody Have Any Sample Letters To Creditors For Debt Negotiation?”

  1. merch Says:
    August 21st, 2008 at 12:58 pm 1219323533
    1219323533

    I think you just call them and they send you the letter. Call them up and go I can give you 50% on the dollar. If they say ok, then have them send it to you in writing then send them a check. Never give them access to your accounts.

    Now I have no practicle exerperience in this. And you might want to review Lost in Debt's blog for more advice.

    As an aside, I believe in paying all debt in full and would only use chap 13 if I was being forced to.

  2. drjeffdougal Says:
    August 21st, 2008 at 04:41 pm 1219336914
    1219336914

    Dear Merch,
    I reviewed Lost in Debt's blogs. There is a lot of information there. Lost in Debt did all her negotiation by phone, which I read somewhere else is a bad way to do it. I read that letters are better.

    Since most of my debt is interest, I have no problem in negotiating them down to a price that comes close to what I would be paying on a loan with reasonable interest. Ours are as high as 31%. Is that what you mean when you say paying in full?

  3. drjeffdougal Says:
    August 21st, 2008 at 04:44 pm 1219337091
    1219337091

    Dear Merch,
    In addition, I did call them awhile back and say that I will continue making payments if they will lower my interest to a reasonable rate. They refused. So morally I have no problem going into debt negotiation or bankruptcy.

  4. merch Says:
    August 21st, 2008 at 05:45 pm 1219340734
    1219340734

    I didn't know you could do it by letter, To me that would be less effective then calling them and just hounding them.

    But again, I have no practical knowledge on the situation.

    I do think you have a moral obligation to pay what you borrowed. And you did sign a contract with them to abide by their terms. With that said, I also don't believe in all the additional feesthat they are probably charging you.

    But they are probably doing that to jack up the balance for when they sell the debt to a collector. Whether you pay them or it goes to a collector, they have probably already made a nice profit off of you.

  5. fern Says:
    August 21st, 2008 at 10:44 pm 1219358661
    1219358661

    i know you can find sample creditor letters on line if you do a search.

  6. oceansluver78 Says:
    August 26th, 2008 at 03:09 am 1219720166
    1219720166

    just visit and visit the forums for information...myfico.com recommends everything be done in writting

  7. oceansluver78 Says:
    August 26th, 2008 at 03:09 am 1219720195
    1219720195

    just visit myfico.com and visit the forums for information...myfico.com recommends everything be done in writting

  8. drjeffdougal Says:
    August 26th, 2008 at 06:20 am 1219731629
    1219731629

    Thanks Oceansluver78, I appreciate that. I've gotta lot going on right now - opening new business (and it's going well by the way). But I have bookmarked and will go there first chance I get.

    I definitely think writing is smarter than calling. Records are always better than "he said, she said".

  9. Lost in Debt Says:
    September 5th, 2008 at 08:12 am 1220602326
    1220602326

    If your debt is with the original creditor you are much better to negotiate by phone. I settled $135,000 in credit card debt all by phone. I personally think that letters do not get the attention or personal interaction that is needed to convince the creditor you have a personal hardship and need to settle your debt.

  10. Dan Says:
    October 23rd, 2008 at 01:21 pm 1224768094
    1224768094

    Many samples of settlement letters can be found online, by simply googling the term.

    Do not make any payments to any creditor or collector with out having the agreed upon terms in writing.

  11. acceptance letters Says:
    August 11th, 2009 at 05:35 am 1249968949
    1249968949

    i can understand ur problem ,the very best solution is that u search online

  12. rob stewart Says:
    October 30th, 2010 at 05:20 pm 1288459253
    1288459253

    Here is a good example of a hardship letter sample to a mortgage company. Try to make contact with creditor or lender first and explain situation and your request and they can help you with specifics required.

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