Financial Resource

The following is a pattern to write a letter to send to the person or company you are in debt to.

Hector Milla Editor of the “Credit Card Debt Counseling” website — http://www.CreditCardDebtCounseling.biz — pointed out;

“…To Whom It May Concern,

The purpose of this letter is to inform (credit card company) of my current financial hardship. This letter will also serve as an explanation of my current inability to submit my monthly payment on time.

In (date), I was laid off from my job after (years) of service. My wife has been unemployed for (years) and we are using our emergency fund to pay housing bills, transportation and utilities. I am diligently trying to secure employment, as is my wife. In the current economy, as you know, jobs are very hard to come by. We have also tried to reduce household expenses to the bare minimum to stretch our reserves as much as possible. Unfortunately this situation has forced me to become late on some bills, including this credit card payment.

I am working as hard as I can to find other income streams and expect this situation to be temporary. I also believe in responsibility which is why I want to be upfront with you about my current hardship. I am hoping that you might have some options to defer some of my monthly payments in order to help me get back on track financially. This letter is not comfortable for me to write, but I have never been late on a single payment in my (x) year history with (company) so I am hopeful that you will be understanding in these trying economic times.

I am including a worksheet documenting all of my current income and expenses. I am also more than willing to provide any other documentation that will help expedite this process.

My ultimate goal is to continue a relationship with (company) and begin making regular payments as soon as financially possible.

Thank you for your time and please contact me with anything further that is needed.

Sincerely

(Name) …” added H. Milla.

Further information about how to get the most of your credit counseling process by visiting; http://www.CreditCardDebtCounseling.biz

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