This Debt Settlement Letter is between a debtor and a bank and/or creditor who agrees to settle a debt under certain terms and conditions. This agreement sets out the specific arrangements to settle the debt including the amount outstanding on the current debt and the final amount which the creditor has agreed to take in order to settle the debt. It also sets forth that the payment will be made in person on a certain date and requests that no further collection action be taken. It is imperative that an agreement of this type be clearly set out in writing. A written Debt Settlement Letter will be beneficial in the event there are future questions surrounding the pay-off of the debt or references to the debt on a credit report.

This Debt Settlement Letter includes:

• Parties: Name of the debtor and the creditor and/or bank who holds the debt;
• Amount of Debt: Sets forth the outstanding current debt and the amount which the creditor has agreed to as a final settlement of the debt;
• Collection/Credit Report: Sets out a request that no further collection action be taken and that any reference to the debt's interest rates or late fees be removed from the creditor's credit report.

Protect yourself and your rights by purchasing this attorney-prepared form.

This attorney-prepared package includes:

1. General Information
2. Instructions and Checklist
3. Debt Settlement Letter

State Law Compliance: This form complies with the laws of all states