letters home

If you have financial problems, you may want to write a letter to your creditor to develop a payment plan that fits your budget. The sample letter below is made up; use it as a guide. When you write your letter use the current date along with real names, addresses, phone numbers, and details.

Re: Mary Roberts(your name)

333 Sunrise Circle (your address)

Apartment 201

Sunrise, MN 22222

Uptown Furniture (creditor name)

4569 Some Street (creditor address)

Your Town, ST 54321

Attention: Delinquent Account Representative

Re: Mary Roberts, Account Number 11111 (your name and account number)

This letter is to inform you that I am having unexpected financial difficulties. I am having trouble making my account payments due to a recent divorce and job change with a lower salary. I hope that we will be

able to agree on a mutually acceptable debt-repayment plan.

 I have evaluated my financial situation, and prepared a realistic budget for my living expenses. I am asking each of my creditors to accept

reduced payments, with the hope that amounts will be increased as soon as possible. I am committed to paying my debts in full. 

My debts total more than $7,500, and my assets are valued at less than $3,000. My current budget leaves $242 per month for debt repayment after basic living expenses. I would like you to accept a partial payment of $50 per month for 14 months, which will repay my obligation. You may

expect my first payment on 2/1/2013 

Sincerely,