It is important to note that these reasons may be due either to the fault of the lenders or beyond their control. This does not mean, however, that debt cancellation is their right. On the contrary, forgiveness depends exclusively on the will of the creditor. Therefore, the purpose of the letter is simply to convince the creditor that the lender has some personal financial difficulties that underlie him to repay his debt. I am, Tianfu Li, ready to cancel the direct debt of Korea Hyundai Light & Electric (International) Holding Limited, which is mentioned below, without compensation. The category is as follows: after we have released you from your debt obligation, we also ask you to retrieve your logbook that we have pledged for the loan. In the event of divorce or death of a partner, a loss of earnings, previously brought by the deceased partner, is necessary. It may also justify undernuclement or inability to continue repaying a debt obligation. Debt settlement. It is understood by the parties that the debtor has an unpaid debt to the creditor. Due to the mutual interest of the parties, they agree that this unpaid debt will be considered paid, ______ By signing this agreement, the creditor releases all previous claims that are unknown or unknown to the company and against the entity.
You at least know how you aim to cancel the debt. The critical information we have provided above is undoubtedly capable of guiding you from start to finish through the process. All you need to do is read them carefully and follow them faithfully every step of the way. After payment. Once payment has been made by the debtor, the creditor must make every effort to remove the outstanding debt from the credit bureaus. In addition, the creditor declares that it will not provide additional information that could affect the debtor`s credit information. Obviously, you can`t repay a loan while serving a prison sentence. If you are convicted, you will find a good excuse not to repay your debts. Outside of military operations, some moving activities may require you to dissolve from your normal place of residence. These also have a negative impact on your ability to use debt.
The letter must contain the reason or reasons for any omissions. We have already explained above the main reasons that can justify debt cancellation. It is enough to be honest with oneself by not pretending to be reason. If you do, you may get into trouble. It is with regret that I write you this letter in which I tell you that I cannot repay your loan in accordance with the original agreement. Due to my physical distress, I lost my job earlier this month and have survived on my cheques for the past four months. PS: Although these circumstances are understandable and acceptable, the creditor is still not required to comply with a request for debt cancellation. The borrower is always required to follow his commitment.
As such, this letter simply convinces or asks the creditor to consider the termination of the debt. Several pieces of information are needed to balance the text of this Agreement. . . .