10 Sample Letters to Send to Creditors
When you owe money to creditors, they can harass you day and night with phone calls and letters. Depending on whom you owe and how much, you can always try sending letters to the creditors to try to help your case. If you are unsure what kind of letter to send or what to say, here are some sample letters you can check out.
- Credit Repair Sample Dispute Letter – Send a letter of dispute to the credit bureaus. Get a copy of your credit report and look it over. If there are any mistakes, you can send a letter to all three credit reporting companies and explain why you are disputing the report.
- Interest Rate Opt Out Letter – Creditors have many reasons for raising the interest rate on a loan or a line of credit. If you do not agree with a creditor raising your interest rate, you can send them a letter to dispute it.
- Pay for Delete Letter – When you are very late on a payment, your account can be sent to collections which will go on your credit report. One option to get it removed is to send a letter to the creditor that offers to pay off the loan in exchange for the creditor removing the collection from your credit history.
- Debt Verification Letter – Many times you get a letter from a creditor or collection agency claiming that you owe them a debt. Before you agree to pay it, send them a letter requesting verification of the debt.
- Debt Settlement Letters – Often creditors will lower the total amount that a consumer owes in order to make it easier for a consumer to pay off their debt. Creditors may lower interests rates, cancel late fees, or other options in order to help out the debt settlement process.
- Letter of Cancellation to Debt – When you are deep in financial troubles, one thing you can do is hire a debt settlement company. The company will draft a letter of cancellation to debt that puts in writing the details of the agreement between the creditor and the consumer.
- Sample Hardship Letter – Today’s economic news is full of people who have fallen behind on their mortgage payments. If you are in trouble with your home lender, you can try sending them a hardship letter explaining your circumstances and see if they can help you to avoid foreclosure.
- Identity Theft Letter – Identity theft is very much a real threat in today’s world. If you think you have been the target of identity theft, you can file a police report and send a letter to all of your creditors.
- Credit Card Cancellation Letter – Too many credit cards mean too much debt. If you have a credit card that is paid off, you can cancel it by sending a credit card cancellation letter to the company.
- Cease and Desist Letter – It doesn’t take long for someone to get tired of being harassed by collection agencies. To get them to quit calling, you can send them a cease and desists letter that will prohibit them from communicating with you about your debt.
This entry was posted on Friday, August 7th, 2009 at 7:00 am and is filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.