A Hardship Letter to Creditors is a kind of hardship letter made explaining of your financial situation and the reason for delayed and delinquent payments. This hardship letter is beneficial to help you understand by the creditors of what financial crisis you are facing right now and to help you find a resolution to your financial problems.
Sample Hardship Letter to Creditors
ABC Mortgage Company
345 Gateway Avenue
Tucson, Arizona, 8900
May 5, 2015
Subject: Mortgage loan #1278 0000
To whom it may concern,
I am writing this hardship letter explaining why am I stopped paying my mortgage loan until now. Due to economic crisis of our country, my company reduce its employees and unfortunately I was one of them taken out. I find possible ways to keep up my mortgage payments for 3 months but another problem that struggles me is my bad health condition. I was diagnosed of lung cancer recently after being laid off in my company.
I am unemployed due to my health condition and right now I am financially unstable. I get my financial support to my sister who works as a caregiver and she has her own family and I being a burden to her. My financial status could not anymore pay my mortgage home loan of $800 a month. Sincerely I want to keep my home until the day I die and avoid foreclosure.
It would really means a lot to me if you could help me to prevent my house from foreclosure and keep my record clean. I will do any options you will suggest to me. I am aware of what I owe and my obligation to my home mortgage loan.
I hope you understand my health condition and my financial status. Thank you.
567 Lakeview Street
Tucson, Arizona, 3499