Finance Hardship Letter Sample

Here’s an HTML formatted sample hardship letter focused on financial difficulties, suitable for situations like mortgage relief or debt negotiation. “`html

[Your Name]
[Your Address]
[Your Phone Number]
[Your Email Address]

[Date]

[Lender/Creditor Name]
[Lender/Creditor Address]

Subject: Hardship Letter – Account Number: [Your Account Number]

Dear [Contact Person, if known, or To Whom It May Concern],

I am writing to request assistance with my [mortgage/loan/credit card] account, account number [Your Account Number]. I am currently experiencing significant financial hardship due to [briefly state the primary cause of your hardship, e.g., job loss, medical expenses, reduced income, death of a family member]. This situation has made it extremely difficult for me to meet my monthly payment obligations.

Prior to [Date when hardship began], I consistently made my payments on time and in full. However, [Explain in detail the events that led to your financial hardship. Be specific. For example: “In June of this year, I lost my job at [Company Name] due to company downsizing. Despite actively seeking new employment, I have been unable to find a position that provides comparable income. My unemployment benefits are significantly less than my previous salary.” Or, “My spouse, [Spouse’s Name], was diagnosed with [Illness] in [Month, Year]. The medical bills have been overwhelming, and I’ve had to take unpaid leave from work to care for them.”] Provide concrete details and, if possible, quantify the impact (e.g., medical bills totaling $XX,XXX; income reduced by XX%).

My current financial situation is as follows: [Provide a brief overview of your current income and expenses. Examples: “My monthly income is now $XXX, while my essential monthly expenses (housing, utilities, food) are $YYY.” or “After paying for basic necessities and medical bills, I have only $ZZZ remaining each month.” Include any significant assets you have (e.g., savings account, other investments) and whether you are willing to use these assets to contribute to your payments. Be honest about your ability to repay.]

To demonstrate my commitment to resolving this issue, I am requesting [Clearly state what you are requesting. Examples: “a temporary reduction in my monthly payments,” “a forbearance period,” “a loan modification,” “a debt repayment plan,” or “a settlement offer.”]. I believe that with [Specific proposed solution, e.g., a temporary reduction to $XXX per month for six months], I will be able to get back on track once [Explain when you anticipate your situation improving. Be realistic]. I am also actively [Mention any steps you are taking to improve your financial situation, such as seeking new employment, budgeting, or seeking financial counseling].

I have attached [List any supporting documentation you are including, such as pay stubs, unemployment benefit statements, medical bills, bank statements, or a budget]. I am available to discuss this matter further at your convenience. Thank you for your time and consideration.

Sincerely,
[Your Signature]
[Your Typed Name]

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