Notes

[Name of creditor organisation] [Your name and address]

[Write out creditor’s address]

[date]

Account Number: [insert the account number linked to your debt here]

RE: Request payoff settlement of my personal loan

Dear Sir/Madam,

I am writing to you regarding the money you are claiming payment for, on the above account.

I am unable to repay this amount in full due to my financial hardship, I cannot pay the entire balance in full as my father had to go through serious surgery due to which my financial condition is very bad.

However, i request you to please settle my loan amount so i can close my liability.

If this is accepted, you agree that you or any associate company can take no further action against myself to enforce or collect this debt and that I will be released from all liability.

Please also confirm that you will also mark my credit reference agency file to show that you will accept the offer amount as the full and final settlement and that the account is closed and paid.

I am able to pay the amount I have offered within [insert length of time within which you can pay] once you have accepted my offer and I have received written agreement of this.

Please confirm where to make payment to.

Yours faithfully,

[Your full name]