Letter to a Creditor
I acknowledge the receipt of your legal notice with regard to our outstanding account. I am sorry to say that your threat of legal proceedings in case of my failure to settle the payment at the earliest
was not at all necessary.
I desire a settlement perhaps more anxiously than you do but you must realize that at the moment I lack the capacity to pay. In a few weeks, I am confident, I shall be in a position to meet my financial obligations towards you.
I am prepared to accept a bill at three months if you care to draw one. I sincerely regret the delay which has occured, but trust our relations will nevertheless remain cordial.
Thanking you for your co-operation.
Reply to above
I regret having troubled you but it was due to my own financial difficulties.
I am drawing a bill on you for three months.