Debt Freedom Blueprint

Stuck with a huge amount of debt and don't know where to turn? Can't make monthly payments. other bills piling up? DM for info on how to get out of the cycle.

Debt settlement letter should include:

Introduction and Purpose:

Identify the the person owning the debt and the account information. Let the company know you are writing this letter to settle the debt.

Explanation of Financial Hardship:

Talk about financial difficulties, such as unemployment, medical conditions, or other financial strains that make it impossible to meet the original payment terms or any other reasons why you are unable to pay the full amount owed. This might include details about unemployment, medical conditions, or other financial strains that make it impossible to meet the original payment terms.

Settlement Proposal:

Offer a settlement amount, which is usually a fraction of the total debt. Include that this payment if accepted is a full and final settlement of the debt.

Request for Written Confirmation:

Ask the creditor to confirm settlement terms and that they will report the debt as settled to credit bureaus. It also stresses that no payment will be made until this confirmation is received.

Closing:

End the letter by asking for a timely response and provide the contact information.

Ever wonder what debt settlement companies do?

National Debt Relief typically sends letters to creditors as part of their debt settlement process. These letters generally aim to inform creditors of the client's financial situation and propose a settlement offer.

Want to pay off debt faster?

Try the avalanche method:

•List debts by interest rate: Rank from highest to lowest

•Pay minimums: On all debts except the highest interest one

•Pay extra: On the debt with the highest interest

•Repeat: Once a debt is paid off, move to the next highest interest debt with the extra funds