Debt Settlement Agreement Letter

To,

Norman Creed

56 Tan Side Street

New Leeds, UK 6789

Dated: 6th of June 2013

Subject: Agreement letter for debt settlement

Respected Mr. Creed,

This letter is in regards to the settlement of debt requested by you in regards to the outstanding loan amount. Your financial organization has requested to go for the debt settlement but there are certain terms and conditions in the debt settlement agreement that need to agree to.

The settlement amount for the outstanding debt will be around 10000 pounds. The agreement is valid for a period of three years and you will have to pay the settlement amount in full in this period of three years. You have to pay an equal monthly installment. You have to continue paying the loan interest which is around 14 percent per annum and the interest amount will be included in the monthly installment. In case you pay off the full amount before the agreement termination date, you will be charged a processing fee of two percent. In case of failure of payment of two consecutive installments, our organization can take legal action.

I am enclosing the agreement and request you to mail it back to us after putting your signature.

Regards,

Ed Harris

Loan Manager

JP Morgan Finance

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