Option One: You acknowledge the debt and know it must be paid. However, you believe you are entitled to an offset or reduction, need time to pay the debt, and/or wish to seek an overall reduction in the debt in either an absolute or percentage amount.
Date:
Dear ___________ (Creditor):
Thank you for your letter of _______________. .
We want you to know we take your concern very seriously, as expressed in your letter. In that regard, we wish to make the following explanation and provide the following information:
______________________________________________________________________
We hope you understand our concerns and hope you will seriously consider compromising your claim as a result. We would welcome your thoughts on the matter so we can settle this amicably for all parties. Please contact us at your convenience to discuss the matter further.
Please direct any future communication to me as follows:
__________________________ (Best address; best phone number; email address, if preferred).
Yours very truly,
_____________
Option Two: You dispute the debt in question. It is not a secured debt so you feel comfortable in disputing it strongly because specific collateral cannot be liquidated under the claim (such as your car under an auto loan or house under a secured mortgage)….
Note: This is just the part of the agreement. To get it drafted completely by legal experts, kindly contact the expert team of Aapka Consultant by clicking here
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