Sample letter to bank for Credit card settlement

Sample letter to bank for Credit card settlement


This is to inform you that I am undergoing a financial issue due to which I am unable to clear the debts of my credit card payments. My credit card no is: CXCXCXCXCX. I am negotiating a settlement with all the creditors on this regard.

In the past few months, I have been facing financial hardships due to loss of old job, medical conditions and treatment of my mother, and an accident in which I almost deteriorated my vehicle. I have attached a copy of my salary statement of my new job, the medical bills of hospital and other such charges that I had to tackle in the past 3 months.

I have sent a letter of settlement to all the creditors offering them 20% of my debts. If they agree to settle with this amount, I shall be clearing their dues within the next 5 business days. More than 20% is not affordable for me in the present situation. Below are the details of my creditors whom I am indebted to:

1. Name of creditor:
Amount to be paid:
Settlement amount proposed:

2. Name of creditor:
Amount to be paid:
Settlement amount proposed:

3. Name of creditor:
Amount to be paid:
Settlement amount proposed:

I have also attached a copy of the letters I have sent to them. I wanted to inform the bank about the settlement I am trying for to avoid any filing of bankruptcy. I shall be submitting the signed letters when the settlements have been reached upon.
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  • RE: Sample letter to bank for Credit card settlement -Lubna Lakdawala (03/13/14)
  • Sample letter to bank for Credit card settlement


    I am writing this with regards to my credit card bill payment. My Credit card number is 00000000. I recently received a bill of amount Rs. 12674 dated 22nd February 2014

    This is to inform you that I cannot pay this amount as my family has fallen under hard time in recent months, but we do want to settle this in a fair and just manner so that you can have the money you deserve and we can be relieved of the burden of owing you this debt.

    On 25th February 2014 I spoke with Mr. Abhinav Joshi and he said that he could settle this debt for Rs. 5590 which I can pay by check. This amount has been calculated on the basis on the actual amount I owe you excluding the interest and default charges. If you can please send me a confirmation regarding this I would be really grateful. I am ready to settle this as soon as I get the confirmation from your side.

    Please know that I have appreciated the patience and professionalism that your staff has given in this process, and that this correspondence has been sent. I am sincerely obliged to you for your help and corporation. Thank you.