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One of the most important processes for consumers to get rid of debts is debt settlement. The process is initiated by the debt settlement letter by consumers to creditors for debt settlement. This is also known as proposal letter or an invitation to debt settlement which is offered by debtors to the creditors. Debt settlement letters are made by the debtor in an effort to negotiate the payment on past due accounts. A consumer can decide to handle his or her own negotiations or may decide to use an organization that has experience with these types of debates. This is one of the way through which consumers try to show there positive attitude towards debt repayments. In these letter consumers invites the creditors to start a negotiation process as they showed there interest in repayment of debt but in full. After sending this letter they make there minds to get ready for negations with creditors so that they can gain maximum benefits and convince creditors to reduce there debt amount as well as the interest rates. In debt settlement proposal letter consumers makes a proposal that they are willing to pay this much amount of debt with this much monthly payments. Consumers also propose some interest rate which is suitable for them.