Sample letter to a creditor requesting a reduced monthly payment

Samplelettertoacreditorrequestingareducedmonthlypayment

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YourCompleteAddress

Date

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Nameofcreditor

Address

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Attention:DelinquentAccountsRepresentative

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Subject:YourNameandYourAccountNumber

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ThepurposeofthisletteristoinformyouthatIamhavingsomebudgetinganddebtproblems.I

Amhavingtroublemakingmymonthlypaymentasaresultof

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(listreason–recentjoblossorseasonalunemployment,etc.)

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Ihopewewillbeabletoagreeuponanacceptabledebtrepaymentplan.

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Ihavetakenacarefullookatmyfinancialsituation.Ihavesetuparealisticminimumbudgetfor

mylivingexpensesandhavedevelopedadebtrepaymentprogram.Iamhopingyouwillaccept

areduced

paymentofpermonth.Amountswillbeincreasedassoonaspossibleuntil

thedebtistotallypaid.

(SpecifyAmount)

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Ihopeyoufindthisplanacceptable.Ilookforwardtoyourletterofacknowledgement;Ihave

enclosedapre‐addressedenvelopeforyouruse.

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Icanbereachedbytelephoneat:betweenthehoursof.

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Sincerely,

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(Signyourfullnamehere)

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Source:CyndiWills,MSUExtension

s/w/bob‐e/letter

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