Sample "Financial Hardship Letter"

A Financial Hardship Letter is a document individuals can use when they want to ask their creditor to modify their loan or to ask longer for payment. The purpose of the document is to inform the individual or entity that has given you a loan about the hardships you are going through and make a request that will ease your financial difficulties. All letters of this type are different since the hardship circumstances vary from person to person. Nevertheless, you can follow a plan that can be adapted to any kind of situation. A Sample Financial Hardship Letter can be found through the link below.

A Financial Hardship Letter can contain several parts, which can include the following:

  1. Information About the Sender and Addressee. The letter should begin with information that will identify the sender and the receiver of the letter.
  2. Introduction. Here you can remind your creditor of the current conditions of the loan or another financial obligation you are supposed to perform.
  3. Hardship Details and Request. This section of the letter can be used to describe the financial difficulties you are going through, as well as politely request them for certain actions that will simplify your situation.
  4. Conclusion. At the end of the letter, you can express your hope to hear from the creditor soon and sign the letter.

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Sample Financial Hardship Letter
From: ​ R ichard and Rebecca Lawrence
7635 Foster Drive
Orange Park, Florida 32065
[​
D ate​
]
To: ​ J ohnstons Financial Institution
66 Broad Street
Orange Park, Florida 32090
To Whom It May Concern,
We are writing this letter to explain the unfortunate circumstances that have caused us
to become late and possibly delinquent in our future mortgage payments.
We have done everything in our power to make ends meet but unfortunately, we have
fallen short and would like you to consider working with us to modify our loan or
work with us on a solution. I would like to assure you that our number one goal is to
keep our home.
As you can probably see in your records we are trying very hard and are making our
payments. Due to a reduction in income in both me and my wife we find it very
difficult to make ends meet. We were one of the unfortunate ones that got into a loan
that had NEG AM from a previous lender.
We were not aware of this until we saw our balance increase drastically and had no
choice but to refinance to another loan. Due to our balance increasing drastically, we
could only get an ARM loan in which we are now. We have a second loan with Chase
(also at a high-interest rate).
Our main goal, as I mentioned, is to keep our home.
We would appreciate it if you can work with us to get rid of the second loan and just
have one thirty-year loan fixed at a lower interest rate. We truly hope that you will
consider working with us.
© ​
T EMPLATEROLLER.COM
Sample Financial Hardship Letter
From: ​ R ichard and Rebecca Lawrence
7635 Foster Drive
Orange Park, Florida 32065
[​
D ate​
]
To: ​ J ohnstons Financial Institution
66 Broad Street
Orange Park, Florida 32090
To Whom It May Concern,
We are writing this letter to explain the unfortunate circumstances that have caused us
to become late and possibly delinquent in our future mortgage payments.
We have done everything in our power to make ends meet but unfortunately, we have
fallen short and would like you to consider working with us to modify our loan or
work with us on a solution. I would like to assure you that our number one goal is to
keep our home.
As you can probably see in your records we are trying very hard and are making our
payments. Due to a reduction in income in both me and my wife we find it very
difficult to make ends meet. We were one of the unfortunate ones that got into a loan
that had NEG AM from a previous lender.
We were not aware of this until we saw our balance increase drastically and had no
choice but to refinance to another loan. Due to our balance increasing drastically, we
could only get an ARM loan in which we are now. We have a second loan with Chase
(also at a high-interest rate).
Our main goal, as I mentioned, is to keep our home.
We would appreciate it if you can work with us to get rid of the second loan and just
have one thirty-year loan fixed at a lower interest rate. We truly hope that you will
consider working with us.
© ​
T EMPLATEROLLER.COM
Enclosed is the application and other documentation required. Thank you in advance
for your consideration in this matter.
Sincerely,
Richard and Rebecca Lawrence
[​
S ignatures of Both Spouses​
]
© ​
T EMPLATEROLLER.COM
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