My Financial debt Was 10 Years Old
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I appreciate that your company is willing to work with me in settling my debt and paying it away. This letter would be to make a counter offer in response towards the settlement offer made by your representative on DATE. The amount that I would propose to settle the financial debt in complete is $ XXX. However I would request you to get rid of any late check entry or charge-offs on this account from my credit report. I would like to inform you that I’ve a number of financial debt accounts with other creditors as well. Regrettably, I have limited amount of funds. So, I can pay only those creditors who are prepared to meet my terms. I have currently reached mutually agreeable settlements having a few creditors and I doubt whether I’ll have sufficient funds to pay everyone. If your company is prepared to accept my proposal, please sign the attached letter of agreement and return a copy of the same to me. As soon as I receive this signed acknowledged agreement, I shall send you the money order in the quantity I’ve proposed.
