If you want to make a proposal to repay this debt, here are some considerations:.Be honest with yourself about how much you can pay each month.Review your debt priorities first, as falling behind on other billsbecause you are paying off this debt could cause you more problems.Write down a summary of your monthly take-home pay and all your monthly expenses(including the amount you want to repay each month and other debt payments).Try to allow some income left over to cover unexpected expenses and emergencies. Acan help, and they often provide services through nonprofit organizations for free.Be wary ofthat claim they can.Decide on the total amount you are willing to pay to settle the entire debt.This could be a lump sum or a number of payments.Don’t pay more than you can afford.
An unable to pay debt letter is requesting that the debt be considered repaid with a specific offer from the borrower that is not the full amount of the debt. In this type of letter, it is recommended that the borrower put in details about their hardship. Some of the most common hardships are: Unable to work due to illness; Unexpected medical bills.