A debt payment plan letter template provides the framework for a debt repayment plan. It allows you to quickly draft a letter to creditors. These templates contain advice for all types of creditors, including non-priority lenders like credit cards. Make sure you read the guidelines provided before using a template. These letters should be drafted according to your situation, and they should be personalized. The goal is to get the attention of your creditors.
If you are negotiating a debt settlement with a debt collector, a debt payment plan letter template is a must. This letter should state your intentions and what you want from them. The letter should be in writing so that you and your creditor can both keep track of it. If the negotiations fail, the letter will serve as proof of the deal. After all, you will need it if you have to prove that you negotiated the terms of a debt settlement.
The letter should also include a request for deletion of the negative information on the credit report. If the debtor doesn't wish to delete the information, the letter should also mention the initial due date. Remember that the goal is to offer a lower amount and get the negative information off your credit report. If your debtor is not in a position to pay the full balance, your goal is to convince them to agree to a repayment plan.
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