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If you find yourself unable to meet mortgage or loan payments you should compose a hardship letter which includes details of why you can no longer afford the repayments. This should include such circumstances as the loss of a job or the death of a wage earner. Personal details such as offers of an affordable payment which you are certain you can honour and the desire to keep your home should be included. All contact details with full name and address with telephone numbers should not be omitted. The letter should be professional and have accurate spelling. It should be well punctuated and presented with a respectful tone.

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Q: When applying for a loan what information should be included in a hardship letter?
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