How do you write a letter of explanation for late payments?

==New Answer == If you are referring to writing a letter say to a mortgage company to explain past derogatories on your credit report, just be honest. Of course, the sympathy factor does come into play. Lenders don't want to hear that you just forgot or well better late than never, we want to hear, unfortunately, "sob" stories (as long as they are true) i.e. illness, divorce, loss of job, etc. and what measures,if any, were taken to rectify the problems. ==Letter of Explanation== When it comes to letters of explanation, keep it short and to the point. For example, you may be asked to explain not only that you experienced some sort of temporary difficulty, but also that the situation was temporary and has since been rectified. Don't waste your time or the stamp.You still get the late fee no matter what and they don't care.