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Good Faith Partial Payment to Creditor
S A M P L E
[Date]
[Addressee]
Dear [Name]:
This is to inform you that we are in receipt of your letter of
[date]. We acknowledge that the account is in the arrears
in the amount of $ [dollar amount].
We have been experiencing some difficulties lately in
collecting our accounts receivable, and unfortunately the
domino theory has become a reality.
In fairness to all of our creditors, we would like to suggest
that we send you $ [dollar amount] per month for a period
of [#] months in order to satisfy this obligation. Enclosed is
the first check for $ [dollar amount] as a sign of good faith.
We hope that this proposal will be acceptable to you. It is
understood that should we be successful in our attempts
to collect some of our larger receivables during the next
few months, we will be most happy to remit the entire
balance owing on this account.
Please let us hear from you regarding the proposal outlined.
Thank you for your patience and understanding in this
regrettable situation.
Very truly yours,
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