D-90, first floor, Potter’s Enclave
Date: 12th June 2013
Subject: Debt Settlement Agreement Letter
Dear Mr. Mathews,
This is Martin D’Souza and I am writing this letter to you in response to the financial hardship letter that you had sent to me 2 days ago. As per the letter, I was informed of your difficult financial situation and the resulting inability to repay the loan. As a creditor, I understand your and realize that losing a job isn’t an easy condition to deal with. You had borrowed a sum of $1000 from me on 10th May 2012 and you were supposed to pay it back with interest on 10th May 2013. As per the loan conditions, you are due to pay $1050, but as a reply to your appeal, I can offer you a few options which will settle the debt once and for all.
You can either choose the option of paying the due sum within one month i.e. by 12th July 2013 or can pay me a sum of $1000, the capital amount, in the next two days. These are two of the best solutions that I can offer to you. If you agree to any of these terms, do reply back to this letter and we shall consider the debt settlement agreement accordingly. But in case you fail to agree to any of these conditions, I shall be forced to take help of legal aids.
Looking forward to your reply,