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Bank of America – Sample Letter

Account No.: 4264280801273229
Account Balance: $7,646.72
August 18, 2008

Dear     :

Per our conversation, this letter sets forth a proposal to settle the above-referenced account. We will accept $1,700.00 as a settlement on this account. Each installment is listed below.

Settlement Installment Installment Date
1. $340.00 August 26, 2008
2. $340.00 September 26, 2008
3. $340.00 October 26, 2008
4. $340.00 November 26, 2008
5. $340.00 December 26, 2008

By completing this payment plan, your account will be considered settled, and you will not be obligated to pay the remaining balance, provided no additional charges appear on this account after the date of this letter. Also, any future account activity that results in a credit balance will become the property of Card Services. Any violation of this agreement will result in the full balance of $7,646.72 being due immediately. All payments must be received by the above stated due dates.

For your convenience, you can make your payment over the telephone by contacting one of our knowledgeable account Managers at 1-800-215-6955 Monday through Friday, 8 a.m. to 9 p.m. or Saturday 8 a.m. 12 p.m.

Sincerely,

Ryan Clark
Senior Account Manager.