A letter of hardship is a document explaining your circumstances in a certain situation, usually pertaining to the fact that you can’t pay a debt. These letters are very commonly used when people can’t make their house or credit card payments, and are looking for a little leniency from the person who gave them the loan. They are not always successful, but they are an important step in preventing the foreclosure of your assets.
Tips for writing a letter of hardship
- Tell the truth, but don’t make it sound as if you feel sorry for yourself
- Include a solution as to how you can make up the payments
Sample letter of hardship
Royal Bank
3438 Carriage Court
Fort Irwin, CA 92310
Dear Royal bank,
I am writing this letter to explain the current circumstances surrounding my non completion of the last three credit card payments.
On December 25th, my brother’s house caught on fire. Due to his dire circumstances, I had no choice but to lend him a sum of money to get back on his feet until the insurance company made a payment to him. Due to this, I did not have the available funds to make my credit card payment.
As you can see from my payment history, I have never missed a payment. My brother will be paying me back in three weeks, and I will be able to make up the difference then.
Thanks for your consideration,
Clark Baker
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