How to Compose a Financial Hardship Letter Template
A financial hardship letter template is a tool to help you draft a proper explanation of your inability to keep payments. This letter template can help stop foreclosure on your home or restore credit if you have suffered a financial hardship.
- Difficulty:
- Moderately Easy
Instructions
Things You'll Need
- computer with internet
- word document program
- lending email address and contact information
-
-
1
Choose a sample format to pattern your letter template. You can use sample letters of financial hardship found on the internet or create your own in a word document program.
-
2
List the borrowers name and property address at the top of your financial hardship letter template.
-
3
Format the top of your template by addressing your financial hardship letter to your lender or contact person, followed by the name of the lending company ,address, and loan information.
-
4
Also include name of the financial institution, bank address, and loan number in your letter template.
-
5
Decide on a resolution request such as short sell or loan modification that best meets your financial hardship and format it in an RE: statement at the beginning of your template indicating that request.
-
6
Then start with a letter statement explaining your specific circumstance of financial hardship and the main reason you are unable to make payment at the present time.
-
7
Next state your future payment intentions in your template and ask for help by restating your request to the financial lender.
-
8
Now explain that if this hardship request is granted you would be able to make payments and achieve your financial goal( to keep house, car, restore credit, etc.)
-
9
As the final statement on your hardship letter state your anticipation of the lender working with you to meet your common objective and resume payment again.
-
1
Tips & Warnings
Be specific when stating your situation of financial hardship and what request is needed to resolve it.
write in short clear descriptive statements and break different points into short separate paragraphs to make it easy to read.
