Re. Payment Settlement Letter Dear [Name of the Recipient], I am writing to inform you that I have cleared all my debts and outstanding amounts [mention the date]. I have paid the amount as a settlement of full and final payment of all the outstanding amounts as debts hanging between us. On [mention the date], I got a loan from your bank which I could not repay in the given time period. Due to the missed installments, the interest rate got higher and it became even tougher for me to…
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