-RICK
Sample Letter To Your Creditors
Reduced Payment Request
<Today’s Date>
<Creditor Name>
<1 Downtown Street>
<City, Province Postal Code>
ATTENTION: CREDIT DEPARTMENT
RE: ACCOUNT #123456789 SMITH, JOHN
Dear <Creditor>:
Due to a lay-off, I am temporarily out of work and am experiencing financial difficulty. Please find enclosed a copy of my <proof of income>, as well as a monthly expense sheet.
Due to my financial hardship, and in order to meet necessary household expenses plus credit payments, I am asking each creditor to accept a reduced payment for the next 3 months. By that time I hope to be back to work.
I would appreciate your consideration in this matter as I am not able to meet the regular payment of <$>. I will pay you <$> per month during this emergency.
I request that my account not be placed with a collection agency as I wish to deal with you directly. Over the next 90 days, I ask that you also please consider withholding interest on my account , as I am anxiously awaiting employment and do not wish to go further into debt.
You can be sure that I will resume regular payments as I am able; I will notify you as soon as my situation improves. If I follow through with what I’ve stated in this letter, please only contact me in writing at the address below.
Sincerely,
<your name>
<complete mailing address>
<phone number>
<account number>
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