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.