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

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Wiki User
2007-03-25 06:55:48

==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.

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