[Your
Name]
[Your Mailing Address]
[Your City/State/Zip]
Certified Mail, Return Receipt Requested # [Insert
the Certified Mail Receipt Number here]
[Insert today's Date]
[Insert name of authorized creditor representative], [Insert
their title here]
[Insert name of creditor]
[Insert address of creditor]
[Insert City/State/Zip of creditor]
REF: Agreed settlement of
outstanding balance, account # [Insert account
number here]
Dear [Insert name of authorized
creditor representative here]:
As we have previously discussed, this letter outlines and confirms the
terms of our Agreement to settle the outstanding balance on the
account referenced above. By signing this settlement agreement
below, you agree on behalf of [Insert creditor name here] to the
following terms and conditions:
1. You agree to accept a payment of
[Insert final $$$ amount negotiated
here] as a full and final settlement of all
outstanding charges, fees, late fees, over-limit or late payment fees
on the account referenced above.
2. The entire amount of [Insert
final $$$ amount negotiated here] will be
immediately forwarded to you upon receipt of an executed original of
this settlement Agreement.
3. You agree to immediately Cease
& Desist all collection activities relating to this account,
either directly or through any third-party debt collection agent or
attorney.
4. You agree not to sell this debt
to any third party since you now recognize this account as either
SETTLED AS AGREED or SATISFACTORILY SETTLED
or simply SETTLED.
5. You agree that, upon execution
of this Agreement and receipt of the amounts referenced in paragraphs
1 and 2, you will remove any and all negative or derrogatory remarks,
information or statements reported to any and all credit reporting
bureaus in the United States of America.
6. Furthermore, you agree to have
any negative or derrogatory remarks, information or statements
reported to any and all credit reporting bureaus in the United States
of America placed by any third-party debt collection agencies or
attorneys also purged and permanently removed.
By affixing your signature and title below, you're certifying your
full and binding authority to conduct this level of business and
commit to this Agreement on behalf of [Insert creditor name here].
You also recognize that making false statements to induce execution of
this Agreement and subsequent transmittal of funds constitutes mail
and wire fraud and will be prosecuted in all appropriate civil and criminal
courts, both corporately and personally.
