Credit Card Debt Forgiveness Letter Template for Indonesia

The Credit Card Debt Forgiveness Letter is a crucial document in Indonesian banking practice, typically used when a credit card holder faces severe financial hardship or when the bank determines that partial debt forgiveness is more beneficial than pursuing full collection. Operating within Indonesia's legal framework, particularly under OJK regulations and the Banking Law (Law No. 10 of 1998), this document provides a formal mechanism for debt resolution. The letter must comply with Indonesian consumer protection laws and banking regulations, including proper documentation of the forgiven amount, any conditions attached to the forgiveness, and implications for both parties. It's commonly used in debt restructuring programs, hardship cases, or as part of broader debt settlement initiatives by Indonesian financial institutions. The document serves as legal evidence of the bank's decision to forgive specific debt obligations and protects both parties in future dealings.

1. Letter Header and Date: Official letterhead of the credit card issuer, current date, and reference number

2. Recipient Details: Full name and address of the credit card holder

3. Subject Line: Clear indication that this is a Credit Card Debt Forgiveness Letter

4. Account Information: Credit card account number, outstanding balance, and relevant account details

5. Debt Acknowledgment: Statement of the total debt amount and payment history

6. Forgiveness Terms: Specific details of the debt amount being forgiven and any conditions attached

7. Remaining Obligations: Clear statement of any remaining amount to be paid and payment terms

8. Tax Implications: Statement regarding potential tax implications of the debt forgiveness

9. Release Clause: Statement releasing the debtor from the specified obligations

10. Closing and Signatures: Formal closing, signature blocks for authorized bank representative