Hardship Letter Template

[Date] [Your Name] [Address] [City, State ZIP] [Creditor Name] [Address] Re: Hardship Assistance Request - Account [XXXXXXXXX] Dear Customer Service / Collections Department: I am writing to request hardship assistance on the above account. I have been a [customer / borrower] since [year] and am committed to resolving this obligation. Due to [job loss / medical emergency / income reduction / divorce / other hardship] beginning in [month/year], I am currently unable to maintain my regular payment obligations. [Briefly describe: lost my job on X date, have been unable to find comparable employment / underwent surgery on X date and have $X in unreimbursed medical expenses / income was reduced by X% when employer cut hours, etc.] My current monthly income is approximately $[AMOUNT] and my monthly obligations total $[AMOUNT], leaving [limited / no] excess funds for regular debt payments. I am requesting [choose one or more]: - A reduced monthly payment of $[AMOUNT] for [X] months while my situation improves - A temporary deferment of [X] months with payments resuming on [date] - A reduction of the interest rate to [X]% for [X] months - A settlement of this account for $[AMOUNT], paid as a lump sum I am enclosing documentation of my hardship: [list: unemployment letter, medical bills, pay stubs showing income reduction, etc.] I want to resolve this account and appreciate any assistance you can offer. Please contact me at [phone / email] to discuss options. Sincerely, [Your Signature] [Your Name] [Phone Number]