How to counter a debt settlement offer

A counter offer to debt settlement offer is what you propose to pay your creditors/collection agencies in response to the offer they make for a settlement of your debt. The sample settlement counter offer letter below should be attached to the Debt Settlement Agreement Letter sent to your creditor.


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Counter Offer Settlement Letter to creditor
Your Name
Your Address
Your Phone #

Creditor's Name
Department

Creditor's Address
Date

Sir or Madam,

Re: Account Number

I appreciate that your company is willing to work with me in settling my debt so that I may pay it off. This letter is to make a counter offer in response to the settlement offer made by your company, which I received on Date .

The amount that I propose to settle the debt in full is $. I would also like to request that you remove any late payments or charge-offs on this account from my credit report.

I have several debt accounts that I am attempting to settle as well. Unfortunately, I have a limited amount of funds. So, I can only pay those creditors who are willing to meet my terms. I have already reached several mutually agreeable settlements with other creditors, and I doubt that I'll have enough funds to pay everyone.

If your company is willing to accept my proposal, please sign the attached letter agreeing to my proposal and return a copy to me. As soon as I receive this signed acknowledged agreement, I shall send you a money order in the amount I've proposed.

Sincerely,
Your Signature 
Your Name      

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