Hardship letter for credit card account list your account number: Date credit card company's representative (if you have it) credit card company's name address company's phone number. Hardship letter i am writing you this letter to request that my current outstanding bill is $5500 and i have to pay a monthly installment of $450. This letter is a formal request to reduce my monthly payments on the above credit card account.
Also the letter must disclose the approximate period of time the debtor would again have the ability of repayment. However, my current financial situation, due to some unforeseen reasons has left me with no choice but to make less than a minimum monthly payment. You must still provide the exact amount and the date and manner of payment. Please consider this letter my application for your hardship program. A financial hardship letter explains the reasons affecting the debtor’s ability to maintain his or her financial obligations. Discuss and decide a compelling reason for your hardship that you would be mentioned in the letter to convince the lender to accept your proposal. Keep in mind that this sample letter is only a guide in order to start the negotiation. Hardship letter example for credit cards. The act itself of signing up for a hardship plan has no effect on your credit.Ĭredit Card Cancellation letter A Credit card It must be accompanied by documentation and statements that support the difficult economic situation the debtor is going through.
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