If you are at the point where you need to write, respond to or accept a debt settlement letter, you can find a sample debt settlement letter for your needs at one of the following websites:

http://www.debtconsolidationcare.com/letters/

This site has over ten sample letters involving debt settlement and a dozen more covering debt collection and related issues.

http://www.fair-debt-collection.com/Disputing_Collections/debt-settlement-letter.html

You can find a basic debt settlement offer letter here and a slight variation on the theme.

http://www.getfreelegalforms.com/debt-settlement-letter-from-debtor/

This free debt settlement letter comes with a discussion of what to watch out for when you write such a letter. You can also fill it in online and simply print it out.

http://www.debt-n-credit-letters.com/Debt-Dispute/debt-settlement-letter.html

This sample letter also comes with explanations as to what the terms mean. You can find many other sample letters on this site.

http://www.usattorneylegalservices.com/debt-settlement-letter.html

This site is full of interesting links and many other sample letters. You can find all you need to write a credit card debt settlement letter as well.

http://www.docstoc.com/docs/1581454/Sample-Debt-Settlement-Letter

A nice simple sample that specifically lists all three credit rating bureaus for credit repair.

http://www.creditmania.com/letters/settlement.asp

This one requires you to sign up for a free membership in order to download it.

http://achingdebts.com/sample-debt-settlement-offer-letter/

Yet one more example to use as a template.

http://www.debtfreedestiny.com/debt-settlement/my-settlements-sample-debt-settlement-letters/

This one is a bit different. This one has samples of what you might expect in return from your creditors.

http://www.findlegalforms.com/product/release-and-settlement-agreement-general-debt/

This one is not free. They charge $7.99 for this sample letter.

Do it yourself debt settlement can be done. With all the free samples above, it should be easy to find a letter sample matching your needs. I recommend reading the related material, so you know what to expect next and what legal consequences your letter could have.

You don’t want to accidentally cause your situation to get worse. You want that debt to be settled and your credit to be restored. You may want to draft your debt settlement letters and then visit one of the free legal advice sessions held in many communities around the country at regular intervals to have a lawyer take a look at them.

After all, a slight delay is unlikely to make a difference at this point since you have probably been in default for a long time already. The important thing is to prepare carefully and to get it done.

Debt settlement letters are legal agreements. Make sure you request all the things you want to get out of it as conditions of the settlement. Once you make the payment, it is too late to make further requests. If you expect your credit history to be repaired, you need to have that in your debt settlement letter from the beginning. And you do want your credit history to reflect that your debt was paid and there are no further outstanding balances.

Creditors are willing to settle debts at much reduced amounts after long time periods of non payment. They would rather see some money than none at all. So when you draft your first debt settlement offer, set the payoff amount fairly low. They may make you a counter offer.

A few of the websites above have sample letters to deal with counter offers. You don’t have to be good at drafting letters anymore, you just have to be able to modify sample letters to fit your situation. The internet has shed light on many legal transactions and this is one of them. Make use of the help.