Payment Agreement Letter

You owe the debt and want to make payments but just can’t afford the amount the collector is demanding. Get help settling that debt for less than you owe AND get help making that collector stop contacting you. Simply click the banner below for a FREE NO OBLIGATION consultation, your debt may be able to be settled for less than you owe and the debt collector may just be liable to you for statutory damages of up to $1,000, plus any actual damages suffered, plus attorney fees!

Payment Agreement Letter

When your financial situation prohibits you from meeting the payment demands of debt collectors, consider offering them a payment agreement that meets your needs not theirs. Use the letter below to write your own debt payment agreement letter.

Feel free to copy and paste the letter below into your word processor.

Download PDF Here

Free Sample Debt Payment Agreement Letter
Today’s Date
Your Name
Your Address
Attention: {name of collector}
Name of Debt Collection Agency
Address
RE: Your {letter dated} or {phone call on date} reference account #: {place account or reference number here}
Dear Mr. /Ms. {Collector’s Name}
According to my records and your {phone call or letter} the balance of this debt is $_____. I am disputing this debt and my current financial situation prohibits me from paying the amount you’re demanding. I am able to make payments on this account every {insert date of month} to your company in the amount of $ _________.
I would appreciate a letter from you (please do not call me at any number) confirming your acceptance of my payment terms. However, if I do not hear from you, I will consider your cashing or depositing my check as confirmation that you accept my payment terms. If you do not accept my terms then I expect the enclosed payment to be returned to me immediately in the enclosed self-addressed stamped envelope.
As a show of good faith I’ve enclosed my first payment in the amount of $________. If my financial situation improves enough for me to increase my payment amount I will contact you immediately. Thank you for understanding.
Sincerely,
Signature
Your Printed Name

Send the letter above using these dispute debt collection mailing instructions.

To dispute an invalid debt use this disputing debt sample letter

What Our Clients Say About Us

Please visit our Google reviews page and tell us about your experience!

Submit a Law Firm Client Review

The necessity to have a relevant, organized, sharp professional advocacy firm: On the side of the consumer & average person is important. My MOM, who recently passed away from COVID 19 introduced me to Thompson Law Group. We celebrated wins together when SHE was here. I know She's smiling down now. Like a reflection of HER: Excellence!! I feel like...

Tyrone J.

Consistent in their approach and can't wait to give the details and outcomes.

Shelvin Rice

Highly qualified company, they solved my case that was an improper repossession and I had a great result. They didn't charge anything at all. Thank you so much for helping me at a time when I thought there would be no justice.

Marcelo E.

Submit a Law Firm Client Review

Schedule a Free Case Review Today

There are numerous ways in which a consumer protection attorney can help you, and many of them do not require anything from you. Our attorneys work hard to protect your consumer rights, and you can turn to us when you are facing a variety of legal challenges. In many cases, the defendant pays our fees, meaning many of our services are at no cost to the consumer. Contact our office today to see how our experience and our know-how can help you. We will evaluate your rights at no cost, and help you fight back if you have been harmed or treated unfairly by a company or business.

Review My Case