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.