ACCOUNT_FIRST_NAME ACCOUNT_LAST_NAME
ACCOUNT_ADDRESS_SINGLE_LINE
To: CREDITOR_NAME
03 May 2024
Dear CREDITOR_NAME
I, ACCOUNT_FIRST_NAME ACCOUNT_LAST_NAME [ID Number], understand that I am owing you an outstanding debt of DEBT_AMOUNT. The following being the reasons for the delay in payment:
DELAY_REASONS
After various discussions between you and me, you fully understand my difficulties and willing to consider my proposed arrangement to settle the debt.
In order to settle this matter amicably, I offer you the sum of CURRENCYAMOUNT(inclusive of interests and costs) as the full and final settlement of my debt.
In the event that any of the cheques cannot be honoured, you have the right to demand immediate payment of the outstanding debts from me immediately.
Please confirm your acceptance by signing and returning a copy of this letter to me. Thank you!
Yours sincerely,
ACCOUNT_SIGN_BLOCK
---------------------------------------------------------------------------------------------------
........................................