What You Should And Should Not Write In The Debt Settlement Letter

By Author: J.J. Yong
Total Articles: 963
Comment this article

Now that you are considering debt relief by means of settlement then your first step is to write a letter to your creditors informing them of your decision. This is definitely possible provided that you know what you should and should not put in writing. I can help you with this and I would suggest the following:

You should:

· Be clear and precise when stating your problem; explain your situation and how you got there in the first place. They might not care, but it will help them to decide.

· Be polite yet firm with your decision and get your priorities straight. Know what you want from this letter. Are you expecting a lower repayment plan? Are you expecting to your debt to be reduced? If yes, then how much reduction are you looking at? Think long and hard about this before deciding.

· Offer a settlement at an amount that you can definitely afford. Remember, you cannot sell hot air here. Hot air is around us, making it hard to sell unless you are a great salesperson. The same concept applies here. Make sure that you can definitely afford what you offer and make sure that the amount is just ...
... right. Offer too little, you will be turned down and offer too much, you will not be taken seriously.

· Tell them that of your next step, maybe you are considering filing for bankruptcy if your letter is rejected?

You should not:

· Try to gain anything other than getting your debt reduced

· Lie about your situation or make it sound worse than it actually is

· Write with an angry or frustrated tone, being rude closes doors and your letter might get rejected. Worse, they might ignored your calls and letters completely

· Commit a settlement amount that you cannot afford

Now that you have an idea what to do and what not to write about, you can get started. Need help? The internet is a huge library, Google what you need help with and you will get all the answers you need.
For more information about writing debt settlement letter, visit DebtSettlementLetterTips.com.