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.

Instructions

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.