How Do You Compose A Hardship Letter To Creditors?
A hardship letter should be sent to creditors explaining your financial situation and reasons for delinquent payments. This hardship letter can help creditors understand your current finance situation to find a resolution. First download a sample hardship letter template to customize to your creditors or create one yourself using a word program. Put the contact, company name, creditors address, and phone number at the top left of your hardship letter. Next list your name, address, phone, and creditors account number, as well as other relevant information on your hardship letter. Make sure to include appropriate information to creditors such as amount of debt, minimum payment amounts, interest rates, etc. in your hardship letter. Explain in your letter the reason for your hardship, date of onset, and projected duration until situation improves. Tell your creditors your intention is to pay the debt off and explain the amount you are able to pay monthly now and why. Ask the creditors for
