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Sample Debt Letter 1
Request a Temporary Payment Reduction


Name of Company
City, ST  Zip

Re:  Account of [name account is under]; Account No. [insert account number]

Dear Sir or Madam (use person's name if you know it):

As a result of [recently losing my job, sudden illness, etc.], I am finding it difficult to pay all of my monthly bills at the present time.  My current monthly net income is $_________ and my current fixed monthly expenses are $____________, leaving $____________ available to pay all of my creditors.

Since I am having trouble paying all of my debts, I am writing to all of my creditors and requesting that my monthly payments be temporarily reduced until I can improve my financial situation.  I plan to take the following steps to try and improve my current financial situation:  [Explain steps plan to take, e.g., second job, move to cheaper apartment, sell a car or home, sell assets, etc.].  

My current account balance with your company is $__________ and I pay $_________ each month.  I am requesting that my monthly payment be reduced to $___________ until [insert date], the date I expect to have my financial difficulties resolved.  

Please contact me as soon as possible to discuss this matter.  I recognize the importance of paying my debts and want to arrive at a solution that is agreeable to both of us as quickly as possible.  I look forward to your reply.


Your Name
Complete address
Telephone number

Related articles:  Alternate Repayment Plans and Reduced Settlements

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