A debt proposal letter is prepared to approach prospective creditors or parties involved in the debt, regarding issues related to the subject. The letter should be framed so as to put forth relevant reasons and purpose of the proposal, followed by the main agenda and reference of the documents provided alongwith, if any.
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Sample Debt Proposal Letter:
Department of Finance and Accounts
Subject: Debt proposal
Date: 4th August, 2011
This is to inform you that I am presently going through some serious problems, which have put me in any unstable financial condition wherefrom it is really difficult for me to clear the monthly installments of the debt I owe to you. I obviously do not want to evade the payment of this debt by declaring bankruptcy, instead would like to propose an alternative plan that will profitably suit both parties.
The strategies I want to put forward are that, if you can kindly close the existing account and ignore the interest rates presently. In that case, I would urge upon you to open a new account at half the rates (or whatsoever you would suggest) of the present debt, as then it would be at least possible for me to pay an amount of $400 every month.
I have enclosed herein all relevant documents that suggest my current condition and the valid reasons that have led to such circumstances. I am sure you will consider them and help me till I regain the ability to pay me fully.
Thank you for co-operating.
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