Where can you find samples of financial hardship letters?

Answer

Although there are such letters offered for a small fee by businesses that supply legal forms, these letters have little if any affect when presented to a creditor.

Hardship letters are generally reserved for student loans. Such a letter must be accompanied by substantiating documentation of a permanent physical or mental condition that renders the debtor from ever having the ability of repayment. However, even under cited circumstances it has become extremely difficult to be granted a hardship dismissal of federal student loans.

Be that as it may an example would be similar to:

Dear Sir or Madam,

This correspondence is a request for the amending of (name of debtor(s)) account# xxxxxxx, on grounds of hardship.

I/We, wish to request a reduction of the amount of repayment to $xxxxx (per week/month).

This change is requested from day/month/year to day/month/yr.

(Include details of the reason for the request and disposable monthly income vs. expenditures.)

I/We, ask that you consider this request as a matter of urgency.

Thank you for your assistance in this matter.

Respectfully,

(Signature(s))

The debtor should change the wording to fit individual circumstances. Such correspondence can do no harm, but neither is it likely to be of much help.

Answer

An excellent site for sample letters to creditors and other useful creditor/debtor information is...www.fair-debt-collection.com

First answer by ID1168474339. Last edit by ID83169506. Question popularity: 91 [recommend question]