Financial Hardship - Sample Letter to Creditor

Just COPY and PASTE the Sample Letter to Creditor below to your word processor.

It is always a good idea to include copies of the following financial statements in order to prove your economic hardship:

• Past 2 years of Income Tax Returns (first 2 pages only.)
• Last 3 months of Bank Account Statements. (Black out youraccount number, but keep your name on it.)
• Past 2 months of Proof of Income. Including: paycheck Stubs, social security, disability, child support, alimony, unemployment, etc. If self – employed we need last quarter’s Profit & Loss Statement or proof that you had business expenses and profit (even if theend number is negative)
• Copies of any unpaid bills, statements, and/or late notices you have received in the last 6 months. Including: credit cards, car payments, medical bills, child support, alimony, property tax, IRS, franchise board tax liens, gas, telephone, cable, electricity, insurance, anything that proves financial hardship.

SAMPLE FINANCIAL HARDSHIP LETTER TO CREDITOR

(date)
(company name)
Re: (account number)

Dear (company name or person)

I am a costumer of your (company, bank) who recently have encounter some financial hardship. My employer has (cut back my hours, laid me off). Consequently my income has dropped, making it difficult to pay my bills on time.

Enclosed I have included copies of my most recent financial statements in order to prove my current economic situation.

After reviewing my budget, I realized that the amount of ($) per month is what I am able afford at the moment. Enclosed is a check of ($) to be credited to my account. Please let me know if this payment and my proposal for future payments is acceptable.

I would appreciate if you could respond to me in writing and save this letter as part of my file.

Sincerely,

(your name)

Debt Negotiation Tips.

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