Withdrawal of Settlement Offer

A Withdrawal of Settlement Offer is a written notice from a creditor or debt collector to a debtor, informing them that a previously extended settlement offer for resolving an outstanding debt has been revoked or is no longer available. The notice typically includes the reason for the withdrawal, such as the debtor’s failure to accept the offer within a specified time frame, a change in the creditor’s policies or financial circumstances, or the discovery of new information that alters the creditor’s assessment of the debt. The notice may also include a statement that the full balance of the debt is now due and payable, and that the creditor may pursue legal action or other collection remedies if the debt is not satisfied. The purpose of a Withdrawal of Settlement Offer is to communicate a change in the status of the settlement negotiations and to clarify the creditor’s expectations and intentions going forward.