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Creditor Demand, Response to One

Option One: You acknowledge the debt and know it must be paid. However, you believe you are entitled to an offset or reduction, need time to pay the debt, and/or wish to seek an overall reduction in the debt in either an absolute or percentage amount.

Date:

Dear ___________ (Creditor):

Thank you for your letter of _______________. .

We want you to know we take your concern very seriously, as expressed in your letter. In that regard, we wish to make the following explanation and provide the following information:

______________________________________________________________________

We hope you understand our concerns and hope you will seriously consider compromising your claim as a result. We would welcome your thoughts on the matter so we can settle this amicably for all parties. Please contact us at your convenience to discuss the matter further.

Please direct any future communication to me as follows:

__________________________ (Best address; best phone number; email address, if preferred).

Yours very truly,

_____________

Option Two: You dispute the debt in question. It is not a secured debt so you feel comfortable in disputing it strongly because specific collateral cannot be liquidated under the claim (such as your car under an auto loan or house under a secured mortgage).

Date:

Dear ___________ (Creditor):

Thank you for your letter of _______________. .

We want you to know we take your concern seriously, as expressed in your letter. In that regard we wish to make the following explanation about our reasons for disputing this debt and provide the following information for your review:

______________________________________________________________________

You should recognize our position that this debt is disputed in its entirety for the reasons stated above. We welcome your thoughts on the matter so we can settle this amicably for all parties. Please contact us at your convenience to discuss the matter further.

Please direct any future communication to me as follows:

__________________________ (Best address; best phone number; email address, if preferred).

Yours very truly,

_____________

Option Three: You acknowledge the debt in question and it is secured by collateral that is important to you (such as your car or house). You need time or a new plan to pay the indebtedness either because you simply do not have the money or temporary circumstances are preventing you from making all of the payments.

Date:

Dear ___________ (Creditor):

Thank you for your letter of _______________. .

We want you to know we take your concern very seriously, as expressed in your letter. In that regard, we wish to make the following explanation about our reasons for currently not being able to pay our obligations in a timely manner. In that light, the following information is provided below for your review:

______________________________________________________________________

You should recognize our position that we owe this debt but are unable to pay it under the current payment plan because of the unfortunate circumstances stated above. We would welcome the opportunity, at your convenience, to discuss the matter more thoroughly and see if we can settle on a modified but temporary repayment plan until we can once again commit to making regular payments under the original payment plan.

Please contact us at your convenience to discuss the matter further and set up a meeting for a thorough discussion of possible options that will suit your needs and we can responsibly commit to making at this time.

Please direct any future communication to me as follows:

__________________________ (Best address; best phone number; email address, if preferred).

Yours very truly,

_____________