Good faith payment

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Simply replace the unfilled areas such as "[]" and "[date]" with your information.

Dear [Creditor],

This letter is to notify you that I have received your letter of [date].  I recognize that my account is past due in the amount of $[amount].

We have recently experienced some financial pitfalls when collecting our accounts receivables.  Unfortunately, it has begun to affect our ability to pay our own debts.

In fairness to you, our creditor, I ask that you allow me to send you a payment of $[amount] each month for a period of [numbers] months until our financial obligation is satisfied.  I hope that this proposal is acceptable.  The first check is enclosed as a show of good faith.  Please be assured that if we are successful in collecting some of our larger receivables, I will be happy to remit the remaining balance on my account.

Please contact me regarding this proposal.  Thank you in advance for your understanding during this difficult time.



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