Where can you find samples of financial hardship letters?

Answer 1

Samples won't do you much good when you don't know the psychology behind writing these letters. In fact, many people shoot themselves in the foot by following online samples.

Your best bet is to learn what the lenders are looking for and to familiarize yourself with the new government programs, and show a) why you qualify for the program you're requesting approval for, and b) why you will be able to make the resulting payments.

Answer

Although there are such letters offered for a small fee by businesses that supply legal forms, these letters have little if any affect when presented to a creditor.

Hardship letters are generally reserved for student loans. Such a letter must be accompanied by substantiating documentation of a permanent physical or mental condition that renders the debtor from ever having the ability of repayment. However, even under cited circumstances it has become extremely difficult to be granted a hardship dismissal of federal student loans.

Be that as it may an example would be similar to:

Dear Sir or Madam,

This correspondence is a request for the amending of (name of debtor(s)) account# xxxxxxx, on grounds of hardship.

I/We, wish to request a reduction of the amount of repayment to $xxxxx (per week/month).

This change is requested from day/month/year to day/month/yr.

(Include details of the reason for the request and disposable monthly income vs. expenditures.)

I/We, ask that you consider this request as a matter of urgency.

Thank you for your assistance in this matter.

Respectfully,

(Signature(s))

The debtor should change the wording to fit individual circumstances. Such correspondence can do no harm, but neither is it likely to be of much help.