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As its name indicates, a late payment letter of explanation is a letter that accounts for the circumstances surrounding any delinquent or tardy repayments of loan installments or credit card bills.
The premise of a pay-for-delete letter is simple: You offer to pay off the debt, either in full or as a negotiated settlement, and the creditor erases the account from your credit history. However ...
If paying the debt in full upfront isn’t possible, discuss setting up a repayment plan with the collector. A structured repayment plan lets you make regular payments until the debt is resolved.
This letter is called an FDCPA (Fair Debt Collections Practices Acts) letter and/or Initial Communication Letter. Once the Borrower(s) receives the two letters providing a time period to reinstate or pay off their loan the lender must wait until that time expires in to take further action.
In government finance, a warrant is a written order to pay that instructs a federal, state, or county government treasurer to pay the warrant holder on demand or after a specific date. Such warrants look like checks and clear through the banking system like checks, but are not drawn against cleared funds in a checking account (demand deposit ...
A letter of comfort, sometimes called a "letter of intent", is a communication from a party to a contract to the other party that indicates an initial willingness to enter into a contractual obligation absent the elements of a legally enforceable contract. The objective is to create a morally binding but not legally binding assurance.