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Sample Debt Negotiation Letter 6
Offer Payment Schedule

Note 1:  Do not send this letter if you can't afford to make the monthly payments you are agreeing to make.  It will not look good for you down the road if you default on an agreement you initiated!

Note 2:  Do not agree to pay old debt by making monthly payments because a debt collector has threatened you in any way.  See Out of Statute Debt and Handling Debt Collectors if you have been contacted by a debt collector.


Name of Creditor or Collection Agency
City, ST  Zip

Re: Account of [name account is under]; Account No. [insert account number]

Dear ______________:

I am writing this letter in response to the attached letter you recently sent to me.  I acknowledge owing this debt; however, I am unable to pay it in full at this time.  

I would like to propose a pay-off schedule that is affordable to me.  At this time, I can afford to make monthly payments in the amount of $___________, which will result in this debt being paid in full on [month, year].  

If this pay-off schedule is agreeable to you, please let me know.  I would prefer to get your agreement to my terms in writing.  Thank you for your attention to this matter.


Your name
Mailing Address
Telephone number

Related articles:  Alternate Repayment Plans and Reduced Settlements

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