Sample "Hardship Letter for Credit Card Debt"

What Is a Hardship Letter for Credit Card Debt?

A Hardship Letter for Credit Card Debt is a written statement by the debtor sent to their creditor to explain the circumstances that led to the credit card debt. Often prepared after the creditor's request for it, this document is useful if you have a debt as a result of unemployment, illness, death of a wage earner, or some other issues.

There is always a chance that after receiving a properly drafted letter that explains the difficulties the debtor has encountered the creditor may go easier on them, offer them to pay back in installments or with a reduced interest rate, or even lower the total amount of credit card debt.

You may download a sample Hardship Letter for Credit Card Debt via the link below.

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How to Write a Hardship Letter to Credit Card Companies?

Here is how you can compose your own Hardship Letter for Credit Card Debt:

  1. Greet the person who will review your documents or the entire department of the financial organization.
  2. Explain the reason for writing and do not forget to refer to the agreement you have initially signed with the creditor.
  3. Clarify why you have not been able to make credit card payments on time or why you have accumulated a serious debt. Your goal is to convince the reader your current financial situation is poor yet you have already taken measures to get back on the right track.
  4. Strengthen your point by enclosing documentation that illustrates your past or present financial difficulties - medical records, tax returns, pay stubs, unemployment records, etc.
  5. Write down your contact information and offer the recipient of the letter to be in touch in case they require more details. Sign and date the document.

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Download Sample "Hardship Letter for Credit Card Debt"

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Sample Hardship Letter for Credit Card Debt
From: Barbara Black
2346 Penrose Circle
Chicago, Illinois 60176
[Date]
To: ABC’s Credit Card Company's representative (if possible)
ABC Credit Card Company
111 Elizabeth Drive.
Bismarck, North Dakota 58503
+1 701-555-5556
Re: Hardship Letter for Credit Card Debt,
[Account
Number]
To Whom It May Concern,
I am writing you this letter because I need to bring you up to date on my present financial
situation and the many troubles that I have been going through. I am respectfully
requesting a settlement regarding the balance of my credit card. My offer is 30% of the
outstanding balance on the account.
Over the last 3 months, the income in my household has greatly fallen because I have lost
my job. This disheartening situation has made it unmanageable for me to continue
making my full payments every month. I have attached proof of my hardship and job loss
to this letter.
I have enclosed information on my income, copies of my financial statements, and other
detailed documentation proves the current state of my hardship in this ongoing situation.
I ask you to please understand that I am trying to avoid filing for bankruptcy and
currently I am requesting the settlement of outstanding debt with all of the other creditors
that I need to make similar agreements and plans with.
©
TEMPLATEROLLER.COM
Sample Hardship Letter for Credit Card Debt
From: Barbara Black
2346 Penrose Circle
Chicago, Illinois 60176
[Date]
To: ABC’s Credit Card Company's representative (if possible)
ABC Credit Card Company
111 Elizabeth Drive.
Bismarck, North Dakota 58503
+1 701-555-5556
Re: Hardship Letter for Credit Card Debt,
[Account
Number]
To Whom It May Concern,
I am writing you this letter because I need to bring you up to date on my present financial
situation and the many troubles that I have been going through. I am respectfully
requesting a settlement regarding the balance of my credit card. My offer is 30% of the
outstanding balance on the account.
Over the last 3 months, the income in my household has greatly fallen because I have lost
my job. This disheartening situation has made it unmanageable for me to continue
making my full payments every month. I have attached proof of my hardship and job loss
to this letter.
I have enclosed information on my income, copies of my financial statements, and other
detailed documentation proves the current state of my hardship in this ongoing situation.
I ask you to please understand that I am trying to avoid filing for bankruptcy and
currently I am requesting the settlement of outstanding debt with all of the other creditors
that I need to make similar agreements and plans with.
©
TEMPLATEROLLER.COM
I politely request that you review my situation to the best of your ability and accept my
offer regarding a settlement. I can immediately mail my remaining payment to your
organization within 7 business days, as soon as you accept my offer in writing.
If you wish to discuss this settlement offer or have any questions, please don’t hesitate to
contact me. I can be reached by phone at
[Phone
Number], or by email at
[Email
Address].
Thank you for your time in considering my request.
Sincerely,
Barbara Black
[Signature]
©
TEMPLATEROLLER.COM
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