Your grace under pressure is a mark of true self. In times of trouble, don’t despair — get up and get what you deserve! This principle applies if you cannot keep up with debts, especially loan installments. Things may seem grim, but that is when you need your grit. Deal with reality by dealing with your lender. Tell them what’s up. Study the sample Loan Modification Letters on our website, for they can give you what you need to plead your case and get the lender in your court.
Hardship letters are never fun to write. You sound as if you can’t manage your life. But the nitty-gritty details are what will convince your lender to give you advice, guidance, and work with you to catch up on your installments. While no one wants to be in this position, the situation will get worse if you don’t level with your lender. Admitting the problem is always the first step to eliminating it — and the stress it causes you.
Tell the truth. Speak your heart, but get to the point. No need to embellish your tale of woe. Stick to the facts, detailing how things got to this point. Some typical scenarios for a hardship letter may describe a business failure, or a family illness that led to unforeseen medical expenses.
Hardship letters communicate in a way to elicit lender empathy, awareness of your current circumstances, and advice on how you can get back on track, perhaps by suggesting alternatives to your current payment plan. Review the Loan Modification Financial Hardship Letters on our website, and let us know how we can work with you.
Our examples Hardship Letters will help you prepare your plan for easing your financial burden during the current economic crisis. Create a personalized letter that clearly communicates your situation to your lender, so that you can renegotiate your payment schedule to obtain financial relief and maximize your chances of recovery!