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CREDIT CARD HARDSHIP LETTER - S
Date _______________
To Whom It May Concern,
We purchased our home in 2005. At that time we had the income to support the payments on the mortgage.
In 2010, George got laid off from his job and was without work for over a year. During that time, we withdrew funds from our savings and retirement accounts in order to continue to meet our financial obligations. I took on a second extra part time job to help as best I could.
George finally found a job in the fall of 2011, making considerably less than what he used to. Unfortunately, by the time he was re-employed, all of our savings and retirement funds were gone. Due to the limited amount of income we now earn, we incurred significant credit card debt as we continued to try keep up with the house payments.
We applied for a loan modification but were unsuccessful in obtaining one. We are now unable to make the payments on the mortgage and our credit limits have been reached.
Due to the downturn in the economy, our home is now worth significantly less than what we paid for it and even less than what our mortgage balance is.
We have had the house on the market for over four months attempting to get an offer that could bring us at least close to what is owed. That has not happened. Our Realtor had to continue reducing the price until we were able to get any interest in the property at all. After months of market time, this is the only offer we have received.
We request that you consider this buyer’s offer and approve a short sale on our home. We are maintaining the property as we want to do the right thing. We are hoping that a short sale will help both the bank and us avoid the unnecessary costs of foreclosure.
Our Realtor will continue to market the property as you consider this offer.
We appreciate your help in this matter. If you have any questions, or need anything further from us, please contact my designated third party and we will provide anything requested promptly.
Sincerely,
Sample 2 - Credit Card Hardship Letter
Name: (Your Name) Address: (Your Address) Lender Name: (Your Lender) Loan #: (your Loan #)
To Whom It May Concern:
I am writing this letter to explain my unfortunate set of circumstances that have caused us to become delinquent on our mortgage. 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. Our number one goal is to keep our home and we would really appreciate the opportunity to do that.
The main reason that caused us to be late is (insert reason here and don’t be too lengthy and long winded) Soon after being late and our income not being nearly enough, we had fallen further and further behind. Now, it’s to the point where we cannot afford to pay what is owed to (lender). It is our full intention to pay what we owe. But at this time we have exhausted all of our income and resources so we are turning to you for help.
(The approximate date of hardship and we believe that our situation is Temporary or will be Permanent.)
Our situation has got better because (reason here) and we feel that a loan modification would benefit us both. We would appreciate if you can work with us to lower or delinquent amount owed and or payment so we can keep our home and also afford to make amends with your firm.
We truly hope that you will consider working with us and we are anxious to get this settled so we all can move on.
Sincerely and Respectfully,
Borrower’s Signature Date Co-Borrower’s Signature Date
Sample 3 - Credit Card Hardship Letter
Crystal Phillips 71 Comanche Lane Chillicothe, Ohio 45601
November 11, 2015
First One Credit Card 90890 Worthington-Galena Rd. Worthington, Ohio 43081 Re: 4456-0987-0934-
To Whom It May Concern;
Sample 5 - Credit Card Hardship Letter
Name of Consumer Address of Consumer City, State, Zip Code
DATE
Name of Credit Card Company Address of Credit Card Company City, State, Zip Code
RE: Reduced Payment on Credit Card Number NUMBER
Dear Name of Creditor:
This letter is to formally request a reduction in payments on my debt for the next six months. I request to pay AMOUNT starting on DATE and beginning the normal payments on DATE. I have every intention of paying my debt, but am not able to make the usual payments at this time.
I lost my teaching job because of financial cut-backs in my school district. I am well-qualified for teaching biology and hope to have another job within six months. I am looking in two other school districts near where I live.
Because I have every intention of paying my debt, I would like to request that you not give it to a collection agency. I need to maintain my credit rating.
I hope to receive a favorable reply in writing within the next two weeks. If you have any questions or would like any more information about my situation, I can be reached at Phone Number or at Email Address.
Thank you for your kind consideration in my time of difficulty.
Sincerely, Signature of Consumer Printed Name of Consumer
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