sample hardship letter for credit card settlement

REMINDER: The free legal information the Internet provides is mostly general and usually second rate. Table of contents. You are better off negotiating an offer to settle. When negotiating credit card hardship on the phone: Credit card hardship letter example #2. Please find enclosed copies of my financial statements, information on my income, and other documents that will prove my hardship at the current moment. If your credit card account is already in default, it's too late to negotiate lower interest rate. I am requesting that you seriously review and accept my settlement offer. If you wish to further discuss this settlement offer, you can contact me at (your daytime phone number with area code). Sample Letter to creditor asking they accept a reduced settlement for an unsecured debt due to inability to insolvency and possible ... Z Credit Card $[total amount due] $[avg. 1 DO IT YOURSELF DEBT SETTLEMENT TUTORIAL & FREE TOOLS . Present them with an offer that you can afford to pay off. Account: #95763HJ Platinum . {Name} {Address} {Phone #} {Date} Dear {creditor}:. (Phone number). Over the last X months my household income has dropped considerably due to (job loss, medical condition, illness, etc. Explain that you are unable to pay the debt due to (detail your hardship). You can also opt for doing it yourself using our step-by-step guide on how to write a hardship letter. Please review my offer and thank you for any effort that you can make to help me in this regard. Note, all text in italics should be replaced with information on your personal situation. Contact the company's hardship department or someone like a manager who can actually authorize a credit card settlement or a lower percentage rate. Sample Credit Card Debt Settlement Offer Letter. I also want to let you know that I am making similar arrangements with all of my other creditors, including other credit card issuers, so that I do not have to file for bankruptcy. Here are some Sample Hardship Letters: Sample Hardship Letter. You are better off negotiating an offer to settle. The information provided by USAttorneyLegalServices.com is intended for educational purposes only. This letter can protect you from the foreclosure of your assets. var sc_project=3507737;var sc_invisible=1;var sc_partition=33;var sc_security="688c8dd9"; When negotiating credit card hardship on the phone: Don’t sound too eager to settle. Subject: Financial Hardship. Thank you very much for your time and consideration. Unable to Pay Credit Card Debt Letter Name of Consumer Address of Consumer City, State, Zip Code Account Number of Consumer DATE Name of Credit Company Address of Credit Company City, State, Zip Code Dear (ENTER NAME), My name is (YOUR NAME) and I am writing in regards to account (NUMBER) … RE: Hardship Letter for credit Card Account list your account number: Due to my recent financial condition I am writing you this letter to request a settlement of my unpaid debt at 20 percent of the balance due. (Be sure to include any late payments statements, bank statements, car repossession, records of your income, past due statements, etc.). (Address) The consumer can call the customer service desk of the credit card company and ask if there are any procedures for hardship cases. Don’t talk with the average customer service representative. 1. Return from Credit Card Hardship to Home page. Sample 1 - Credit Card Hardship Letter Crystal Phillips 71 Comanche Lane Chillicothe, Ohio 45601 DATE First One Credit Card 90890 Worthington-Galena Rd. ; 1.2 Next, you may or may not need the counter-offer debt settlement letter… I have enclosed in this envelop copies of my financial statements and documents. Understand the risks. Be polite, considerate, and professional in the letter. (include any past due statements, late payments statements, past 2 months of proof of income, repossessions, credit card statements, last 3 months of bank statements,...). • Send your debt hardship letter via Return Receipt Requested • Keep a copy for your records. RE: Hardship Letter I am writing this letter to inform you of my present financial difficulty and ask for a settlement of sixty to seventy percent of my balance. • Agree to send them a cashier’s check only after you receive their letter of agreement. Things you should consider when writing a credit card hardship letter requesting a debt settlement: (adsbygoogle=window.adsbygoogle||[]).push({}); (adsbygoogle=window.adsbygoogle||[]).push({}); Your Name: Address: City: Phone Number: Postal Code: Email Address: Date: … A financial hardship letter … Please note that I am trying to avoid a bankruptcy filing and that I am currently requesting debt settlements with all of my other creditors with whom I need to make similar arrangements and plans. Online credit card, financial and debt help. The letter should also include the cause of the financial hardship faced by the borrower and the current financial situation because of which the … After you agree in writing of your decision to accept my offer of a settlement, the total amount I owe will be mailed to you within 5 business days. Never sound extra eager to settle your credit card debt as time can be on your side. Please provide me relief on my credit card bills due to this financial hardship. A quick ending, signature, and date are all you need to wrap up your debt hardship letter. The first rate information and legal services you can only get when you do speak to a competent attorney. Please see the proof of my hardship below/attached.. REMINDER: The free legal information the Internet provides is mostly general and usually second rate. For such services, we recommend getting a free initial consultation by a licensed Attorney in your state. 1.1 This next image is the original debt settlement offer letter (template) to use when negotiating a settlement on debt – the first document to send. They will need all of this documentation, and maybe more. As an example, your letter might begin by saying, “Due to a recent automobile accident and the medical costs I have incurred, I find that I am unable … RE: Hardship Letter for credit Card Account list your account number: Dear Name: Due to my recent financial condition I am writing you this letter to request a settlement of my unpaid debt at 20 percent of the balance due. In addition to preventing the foreclosure of property, hardship letters help with medical bills and credit card … At this time, I am making similar arrangements and negotiations with other creditors in order to avoid filing for personal bankruptcy. How does a credit card hardship program work? Date:Credit Card Issuer’s NameMailing addressCredit card company phone number. I have experienced a considerable drop in my income over the last X months and with the high interest charged on my account, I can’t continue to pay my monthly credit card payments of X dollars per month. To the IRS, the settlement was equal to the credit card … In the letter, you can politely request an … Contact the company's hardship department or someone like a manager who can actually authorize a credit card settlement or a lower percentage rate. RE: Debt Forgiveness for the credit card account number _ Dear Sir/Madam, It is with regret that I write this letter to you, notifying you that I am not able to repay your credit as per the original agreement. Begin your negotiation outrageously low, the creditor will counter your offer or, if you are … I have included my past due statements for my credit card bills, copies of late payments statements, my pay stubs and 2 months of proof of income, last 3 months of bank statements, information on repossessions, copies of credit card statements. Due to a considerable drop in my income in the past (2, 3 months) and the high interest charged, I can no longer (keep up with my credit card payments in the amount of ($) per month, pay the minimum due,…), Enclosed please find my financial documents and statements proving my hardship at the moment. I am writing you this letter as I need to inform you of my present financial condition and the difficulties that I am experiencing. (Account number). So how do you write a convincing hardship letter … … Hardship Letter Debt Settlement Example {Your Name} {Your Address} {Your Phone #} {Date} To Whom It May Concern: I am writing this letter to request that a payment plan be worked out concerning my debt to {Company}. Usually, the objective of a hardship letter sent to a lender is obtaining payment deadlines leniency or outstanding debts consolidation. Wait for the collection agency to respond in writing or follow up with a phone call. I plead that you carefully consider my proposal and I deeply appreciate any effort you can make to help me in this regard. 1. Review your budget. Hardship Letter Debt Settlement I am writing this letter to request that a payment plan be worked out concerning my debt to {Company}. Example #1 of a credit card hardship letter, apply for a legit debt settlement program. • Request a deletion of their statement to your credit … Your first letter should offer to pay anywhere from 15-25% of the total balance outstanding on your credit card debt. Once I am informed in writing of your decision to accept my offer of ($), the total payment will be mailed to you in 5 business days. If you have any questions or want to discuss my proposal, please do not hesitate to call me at (provide personal phone number), Your nameMailing addressPhone numberCredit card account number, DateCredit card company's representative (if you have it)Credit card company's nameAddressCompany's phone number.