tutorforcredit

Your creditors have agreed over the phone to you making lower payments based on your current financial hardship. Follow up your conversation with a letter outlining the terms of the agreement.

After negotiating a reduced payment plan with your creditors, this free sample letter can be used to write your own personal letter confirming the terms of the reduced or delayed payment agreement.

Free Sample Letter for confirming payment agreements with creditors based on your current financial hardship

Today’s Date

Your Name
Your Address

Attention: {Creditor’s Name}
Credit Department
Creditor’s Address

RE: Account #: {your account number here}

Dear Mr. /Ms. {insert name of person you spoke with}

Thank you for speaking with me today about my temporary problem in making my normal payments, and for also agreeing to the following payment arrangement on my account.

As agreed upon in our conversation, I will make reduced payments in the amount of $ _____ on or before the ______ of each month for a period of ____ months and after that time will resume making normal payments. see alternate text below

Thank you for your help and understanding in this matter. If you have any questions regarding this matter I can be reached at (insert daytime phone number with area code).

Sincerely,

Signature just above printed name
Your Printed Name

Source: http://www.debt-n-credit-letters.com

You purchased or leased a product or service on credit but are not satisfied! Sending a complaint letter that clearly explains your problem with a product or service is a powerful method for resolving complaints.

Free Sample Letter
Complaining After a Purchase or Lease of a Product or Service

Today’s Date

Your Name
Your Address

Business Name
Business Address

Dear {Consumer Affairs Department or President} ,

Re: (account number, if applicable)

On (date), I (bought, leased, rented, or had repaired) a (name of the product, with serial or model number or service performed) at (location, date and other important details of the transaction). state problem

Unfortunately, your product (or service) has not performed well (or the service was inadequate) because (state the problem). I am disappointed because (explain the problem: for example, the product does not work properly, the service was not performed correctly, I was billed the wrong amount, something was not disclosed clearly or was misrepresented, etc.).

To resolve the problem, I would appreciate your (state the specific action you want – money back, charge card credit, repair, exchange, etc.) Enclosed are copies (do not send originals) of my records (include copies of receipts, guarantees, warranties, canceled checks, contracts, model and serial numbers, and any other documents).

I look forward to your reply and a resolution to my problem, and will wait until (set a reasonable time limit) before seeking help from my local or national consumer protection agency and filing a complaint about your business with the Better Business Bureau. Please contact me at the above address or by phone at (daytime phone number with area code).

Sincerely,

Signature
Your Printed Name

Keep copies of all correspondence
and all related documents (letters, faxes, email, etc.)

source: http://www.debt-n-credit-letters.com

Use this FREE letter to make a settlement offer when you wish to pay less than the debt collector is demanding!

Feel free to print this page, or copy and paste the text into a word processor. If neither option works for you, then use this to have Rich send you a free copy of this letter in Microsoft Word format.

Free Sample Letter for Confirming Actions
Promised by the Company or Creditor

Today’s Date

Your Name
Your Address

Business Name
Business Address

Re: (account number, if applicable)

Dear {use the name of the person with whom you spoke with}

Thank you for speaking with me today and for agreeing to resolve my complaint.

For the record, my complaint is (clearly but briefly describe your complaint – use facts)

As agreed upon in our conversation, you will state that you or your company will (state the specific action agreed upon including all details) See note below

Thank you for your help and understanding.

Sincerely,

Signature
Your Printed Name

You discover an error on your monthly credit card bill and need to dispute the error with your credit card company.

The Fair Credit Billing Act (FCBA) outlines your specific rights and your credit card company’s specific responsibilities when you dispute an item on your credit card bill. When disputing credit card bills, always do so in writing and in a timely manner. In your letter provide specific facts, descriptions, figures, names, dates, locations and so forth. Equally important is including a certified copy of receipts, a bill of sale, the credit contract and any other document that support your claim.

FREE Sample Letter for Disputing Errors on Credit Card Bills

Today’s Date

Your Full Name
Current Address
Current Phone Number

Name of Credit Card Company
Mailing Address (check your statement for the correct address! It’s usually different than the one you mail payments too)
City, State, Zip

Dear {Insert name of Credit Card Company from statement}

I am disputing an item on my statement, dated {insert date of statement}. Please note that this letter is dated within the 60-day limit required under the Fair Credit Billing Act.

or use the following paragraph instead

I am disputing an item on my statement dated {insert date of statement} because I am unable to determine from my records what the charge is for. I need more information about line item {place the line item number or description here}. Please send copies of any documents you have pertaining to this item.

Please use the following information to investigate my claim:

{Insert your name as it appears on your credit card statement}

Date of Statement: {Insert the date from the statement you are disputing}

Account Number: {Insert credit card account number}

Date of Transaction: {Insert date from statement}

Description of Transaction {Copy from statement}

Describe Error: {If disputing dollar amount, insert amount using $0.0 format}

{Insert explanation of why you believe an error occurred} see more examples below

I understand that you have 30 days to respond and 90 days to either resolve my dispute or inform me in writing of why the bill is correct. Until then, I will pay any amount due except for the amount in question and await your letter explaining all actions taken concerning this dispute.

If your investigation shows the information to be accurate, I respectfully request that you provide an explanation of your findings, a statement of what I owe, including any finance charges that have accumulated and any minimum payments I’ve missed while questioning this bill. If I agree with your findings, you can expect my payment in the amount you say I owe within the 10-day limit allowed under the Fair Credit Billing Act.

Sincerely,

Signature
Printed Name

You have one or more inactive credit accounts with a zero balance that are hurting your credit score!

Open but inactive credit accounts with a zero balance can hurt your credit score. Consider closing inactive accounts with a letter addressed to the creditor requesting the account be closed and the correct status, “closed by consumer” reported to the credit reporting agencies

Free Sample Letter
Closing Inactive Credit Accounts With Zero Balance

Today’s Date

Your Name
Home Address
Phone Number

Attention: {Creditor’s Name}
Creditor’s Address
RE: Account #: {your account number here}

Dear Accounting Department {or Creditor’s Name if you have it}

Please close the above referenced account effective immediately. I spoke with {insert name} on {insert date} at {insert time}, and {he/she} assured me that the “payoff balance” would be no more than $ {insert dollar/cents amount}. I’ve enclosed a check for that exact amount.

Or alternatively… Please close the above referenced account effective immediately. My records indicate the account has a zero balance.

Please send me written confirmation that this account has a zero balance and the date the account was closed . Also, include proof that you’ve complied with section 623(a)(4) of the Fair Credit Reporting Act by reporting this account as “closed by consumer” to the national credit bureaus.

Thank you for your cooperation. If you have any questions concerning this matter I can be reached at (insert daytime phone number and area code)

Sincerely,

Signature just above printed name
Your Printed Name

Source: http://www.debt-n-credit-letters.com

Your financial situation has worsened leaving you no choice but to reduce the amount you can offer your creditors each month.

When circumstances such as a loss of job, divorce, separation even the death of a loved one cause us financial hardships, it’s in our best interest to let our creditors know right away. Use the sample letter below to write your own personal letter informing your creditors of your financial situation and for making a payment offer that you can afford.

Free Sample Letter for
Amending Previous Payment Agreements with Creditors

Today’s Date

Your Name
Home Address
Phone Number

Attention: {name of collector}
Name of Debt Collection
Agency Address

Account Number: {place account or reference number here}

Dear Mr. /Ms. {Creditor}

This letter is to inform you that my financial situation has worsened since our previous payment agreement. Given my significantly reduced income, I have no choice but to request an amendment to our original payment agreement dated {insert date}.

Based on my current income and the number of other creditors I owe money too I promise to pay
$ _________ each month, ( week, every two weeks etc.) until my account is paid in full.

If my financial situation improves and I am able to increase my payment, I will contact you immediately. Please send written confirmation of your acceptance or rejection of this offer to my address outlined above.

As a show of good faith I have enclosed payment in the amount of the lower payment. I thank you for your understanding in this matter and look forward to your favorable consideration. If you have any questions concerning this matter I can be reached at (insert phone number and area code).

Sincerely

Sign above printed name
Your Printed Name

Source: http://www.debt-n-credit-letters.com