Question
Q: How to write a payday loan settlement request letter?
Answer
A: Your letter should include information about the loan, the principal amount received, the payments made, the reason for the hardship, and your final offer with a deadline for written acceptance. Clearly ask for a statement of account and written proof of payment, as well as No-Dues/closure after payment. Be honest and polite to avoid being accused of bad faith. Legals365 and Advocate BK Singh write a letter that is legally sound and limits the scope of future disputes..
By Advocate BK Singh
(Delhi High Court)
