Wells Fargo Debt Settlement Letter From December 2024

This December 10, 2024 Wells Fargo letter confirms a settlement of $868.51, which the letter states is 40% of the current balance, paid in 12 monthly payments of about $72 through November 2025. About $1,302 of a roughly $2,171 balance was forgiven. Wells Fargo says the account will be reported as settled for less than the full balance, and it may report the forgiven amount to the IRS.

Results vary. Every creditor, balance and hardship is different, so no letter predicts what another account will settle for. The CFPB explains the risks of debt settlement.

debt settlement letters

Redacted Wells Fargo settlement agreement confirmation dated December 10, 2024 showing $868.51 to satisfy the account

DetailFrom the letter
Letter dateDecember 10, 2024
CreditorWells Fargo Bank, N.A.
Settlement amount$868.51, stated as 40% of the current balance
Balance before settlementAbout $2,171.27
ReductionAbout $1,302.76 (60%)
Payment plan11 payments of $72.38 and a final payment of $72.33
Payment windowDecember 31, 2024 to November 30, 2025