Get Financial Relief With This Sample Hardship Letter

A hardship letter is used to request a temporary reduction or suspension of payments due to financial hardship. You can also make this request over the phone, but you may want to follow up with a letter confirming what was said.  Don’t forget that lender representatives are humans and they will go farther to assist you if they feel some sympathy for you and they see that you are being proactive about taking care of your temporary situation.

Here are some tips for writing a hardship letter:

  • Explain the reasons for your hardship clearly and concisely.
  • Include any supporting documentation that you have (e.g., copy of your unemployment awards letter).
  • Be specific about the remedy you are seeking, and don’t promise to send more money than you can reasonably afford.
  • Send the letter via certified mail to the creditor’s address for billing inquiries and concerns, and keep a copy for your records.

John Q. Public
345 Anywhere St
San Francisco, CA 94115
Account Number 1234567910111213

February 18, 20xx

XYZ Credit Corporation
123 Main Rd
Central City, CA 94123

To Whom It May Concern:

I am writing to ask for your assistance. On February 1, my hours at work were cut in half, and my salary was reduced from $2,400 a month to $1,200 a month. Enclosed is a copy of my most recent paystub, which shows my reduced hours and salary. Based on my current income and expenses, including my $700 mortgage payment and $200 car loan payment, I am not able to make my regular credit card payments. In place of my payment of $100 per month, I ask that you accept $30 per month for the next four months starting in March. I will pay by the 15th of the month.

I will be looking for a second job during this time period and do not expect any difficulty resuming my regular payments in July. If there is any additional documentation or information that you would like from me or if this arrangement is not acceptable to you, please contact me. My telephone number is (555) 788-9123, and the best time of the day to reach me is between 2 p.m. and 5 p.m.

Thank you for your understanding and consideration.


John Q. Public

You Might Also Like

Deal With Your Debt: Unpaid Credit Card Balances and the Law


How to Communicate With a Creditor


Should You Ditch Your Credit Card?


Vehicle Repossession: Know Your Rights and Responsibilities