Use these free letter samples as templates for your formal notification.
Many people may find themselves in the financial position of having more debt than they can realistically pay with their income. There are several reasons people get in over their heads in debt, and some of these reasons are good for getting debt settlement. The best way to start reducing the amount they have to pay is to send a debt settlement agreement letter to their creditors. The letter needs to clearly state the hardships that have caused the debtor to be unable to pay his or her debt. The person will not be successful in reducing his or her debt if they say they made too many purchases, and now they can’t pay for them. There are several legitimate hardships for getting behind on debt payments including: