This letter is an example of a Financial Hardship Letter and includes all of the elements of a perfect Financial Hardship Letter for you to use. This sample Financial Hardship Letter can be used as a template for your needs.
Having lost my job over a year ago, I have been steadily trying to find work but the job market is extremely tight these days, it would seem. At this point, I am now experiencing a great deal of financial stress due to lack of income.
I know that I have fallen behind on my payments. The simple truth is without a constant source of incoming revenue, I can no longer afford the terms of my original loan. I have been a loyal customer with Bank of America for the past 5 years and have never defaulted on a line of credit before in my life. But these are challenging times for us all, given the current economic crisis, and I’m therefore requesting the opportunity to discuss with one of your loan officers the option of a refinancing plan.
Enclosed you will find documentation of my current economic situation, including statements from my accounts with Bank of America. I would be happy to review all those documents in person with a loan officer and try to arrange a more feasible payment schedule.
While I’m certain the tide will turn, I want to do what I can to make my loan payments on time. Given the current parameters of my loan agreement, that’s just not possible for me right now.
I look forward to speaking with a representative from the B of A Loan Dept. soon. In the interim, should you have any questions for me, please don’t hesitate to call. My cel number is 555.555.5555.
Thank you for your consideration and whatever assistance you are able to afford.