Good Faith Partial Payment to Creditor

Company Letterhead

{{company_name}}

{{company_address}}

{{phone}}

{{email}}

{{website}}

Date and Creditor Information

{{date}}

{{creditor_name}}

{{creditor_address}}

Subject

**Subject: Good Faith Partial Payment for Outstanding Account - {{account_number}}**

Introduction

Dear {{creditor_contact_person}},

This letter acknowledges our outstanding debt to your esteemed organisation, specifically referencing account number {{account_number}}, with an original balance of {{original_debt_amount}}.

Acknowledgement of Debt and Proposal

We recognise our obligation to settle this debt in full. However, due to {{reason_for_partial_payment}}, we are currently unable to make the full payment at this time.

In demonstration of our commitment to fulfilling our obligations, we wish to make a good faith partial payment of {{partial_payment_amount}} with this correspondence. We trust this gesture underscores our intent to resolve this matter amicably and in its entirety.

Future Payment Plan

We propose to settle the remaining balance of {{remaining_debt_amount}} through {{proposed_payment_plan, e.g., a payment plan of X installments of Y Rands each, or full settlement by Z date}}. We are open to discussing alternative arrangements that may be mutually agreeable.

Kindly advise on an appropriate channel for the remaining payment(s) and any updated statements reflecting this partial payment.

Account Status and Communication

We kindly request that you update our account status to reflect this partial payment and refrain from initiating any further collection activities during this period of good faith negotiation.

We are committed to maintaining open communication and resolving this matter promptly. Please contact us at {{phone}} or {{email}} to discuss this further.

Closing

Thank you for your understanding and cooperation in this matter. We value our relationship with your organisation and look forward to a swift resolution.

Signature Block

Sincerely,

{{sender_name}}

{{sender_title}}

{{company_name}}