Separate names with a comma.
Discussion in 'Credit Talk' started by highside, Nov 13, 2001.
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I think I have something in my trusty file folder. Email me and we'll see what excellent letter we can come up with.
try looking at the free site www.budhibbs.com
it has copies of letters like you're requesting... no charge...
AGREEMENT TO COMPROMISE DEBT
Max Creditor, referred to as CREDITOR and Jane Doe, referred to as DEBTOR, agree
to compromise the indebtedness as between them. CREDITOR, hereby agrees to
compromise the indebtedness due the CREDITOR on the following terms and
The CREDITOR and the DEBTOR agree that the present debt due is $1436.18 (one
thousand four hundred thirty six & 18/100 dollars). The parties agree that the
CREDITOR shall accept the sum of $1000.00 (one thousand & no/100 dollars) as full
payment on the debt. The acceptance of the payment will serve as a complete
discharge of all monies due. The payment shall be made in cash.
In addition, upon accepting of the $1436.18, the CREDITOR will notify all Credit
Reporting Agencies that account is PAID AS AGREED, and delete any entries
showing this account as ever being late.
This compromise is expressly conditioned upon the payment being received by
January 15, 2002. If the DEBTOR fails to pay the compromised amount by January
15, 2002, the original amount owed by the DEBTOR will be reinstated in full, and
This Agreement shall be binding upon and inure to the benefit of the parties, their
successors and assigns.