NEVER settle a debt with a creditor without getting it in writing from them. Here is a letter you can send them to sign. Be sure to insert your terms for the debt within, and don’t pay it until you received an original copy with a signature on it.

Max Creditor, referred to as CREDITOR and Jane Doe, referred to as DEBTOR, agree to compromise the indebtedness as between them. CREDITOR, hereby agrees to compromise the indebtedness due the CREDITOR on the following terms and conditions:

The CREDITOR and the DEBTOR agree that the present debt due is $1436.18 (one thousand four hundred thirty six & 18/100 dollars). The parties agree that the CREDITOR shall accept the sum of $1000.00 (one thousand & no/100 dollars) as full payment on the debt. The acceptance of the payment will serve as a complete discharge of all monies due. The payment shall be made in cash.

This compromise is expressly conditioned upon the payment being received by. If the DEBTOR fails to pay the compromised amount by, the original amount owed by the DEBTOR will be reinstated in full, and immediately due.

Max Creditor hereby declares that he is authorized to act as an agent of the credit agency.

This Agreement shall be binding upon and inure to the benefit of the parties, their successors, and assignees.



Max Creditor


Jane Doe



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