Sample letter to bank for Credit card settlement

Sample letter to bank for Credit card settlement

This is to inform you that I am undergoing a financial issue due to which I am unable to clear the debts of my credit card payments. My credit card no is: CXCXCXCXCX. I am negotiating a settlement with all the creditors on this regard.

In the past few months, I have been facing financial hardships due to loss of old job, medical conditions and treatment of my mother, and an accident in which I almost deteriorated my vehicle. I have attached a copy of my salary statement of my new job, the medical bills of hospital and other such charges that I had to tackle in the past 3 months.

I have sent a letter of settlement to all the creditors offering them 20% of my debts. If they agree to settle with this amount, I shall be clearing their dues within the next 5 business days. More than 20% is not affordable for me in the present situation. Below are the details of my creditors whom I am indebted to:

1. Name of creditor:
Amount to be paid:
Settlement amount proposed:

2. Name of creditor:
Amount to be paid:
Settlement amount proposed:

3. Name of creditor:
Amount to be paid:
Settlement amount proposed:

I have also attached a copy of the letters I have sent to them. I wanted to inform the bank about the settlement I am trying for to avoid any filing of bankruptcy. I shall be submitting the signed letters when the settlements have been reached upon.