If you are having trouble keeping up with your credit card payments because of a personal hardship, this letter is an example of how to ask the credit card company for help. We hope you find this example helpful and we wish you the best of luck!
IMPORTANT: DO NOT COPY THIS LETTER EXACTLY. PLEASE USE YOUR OWN WORDS.
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{Your Name}
{Your Address}
{Your Phone Number}
{Date}
RE: request for {consolidation/restructure} of loan for {VISA, Mastercard, etc.}, account {account number}
To Whom It May Concern:
I am writing to request the {consolidation/restructure} of my credit card repayment, due to financial hardship.
The current balance on my credit card is {amount in dollars}, and I have been paying {amount in dollars} every month for {length of time}. This had been an adequate system, until recently, when I fell on hard times.
Due to {death in the family, divorce, medical problems, etc.}, which began {date}, I have been unable to keep up with the payments. I have attached {list of financial documents attached}, which should illustrate exactly why I am in need of your help. I am accruing more and more in the way of late fees and finance charges, which means my balance just continues to increase, and there is nothing I can do about it.
I am requesting {consolidation or that the company accept a certain amount that is less than the total due}. I am extending the same offer to other creditors, so that I can avoid filing for bankruptcy.
Please contact me as soon as possible so that we can get the ball rolling on this situation.
Sincerely,
{Your Name}
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