Dynamic Wealth Management Headlines:How to Write a Sample Debt Settlement Letter

http://dynamicwealthmanagementtips.com/

These days, perhaps a limited number of people have not come across the word – debt. Actually, today, most of us are under huge debt burdens and a few find the right way to get out of it. Though there are many debt relief options, debt settlement may be the best option as per your condition. However, in a debt settlement, you have to write a debt settlement letter to your creditor. If you are not familiar with a debt settlement letter, you can go through some sample debt settlement letters over the web.

Does Debt Settlement Affect Your Credit Score?

Though there is a myth prevalent that debt settlement never affects your credit score, in reality it does. When you succeed in doing a debt settlement, the mark of the debt settlement remains on your credit report. A debt settlement mark on your credit report always compel your credit score to fall around 200-250 points. However, if you carefully start paying off your debt amount, this blemished credit score can be easily restored within the next 6 months.

Sample Debt Settlement Letter to Send to Creditors

When you write a debt settlement letter, keep in mind the following:

• Be very firm on the amount you offer
• Include every financial hardship and stand professional
• Remain prepared to pay-down the offered amount immediately once the creditor accepts it

Debtors may make use of the sample debt settlement letter provided below while they write their own.

Debt Negotiation Sample:

Address

City, Sate, Zip

Date

Collection Agency Name

Address

City, State, Zip

Reference #: 2752136

To whom this may concern,