Debt  >  Debt Settlements  > Sample Letters  >  Letter 7
Sample Debt Negotiation Letter 7
Request a Lower Interest Rate


Date


Name of Credit Card (Or other type of ) Company
Address
City, ST  Zip

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

Dear ______________:

I am writing this letter to inform you that I have [lost my job, over-extended myself, become ill, etc.] and am having difficulty paying all of my debts each month.  This is not a temporary condition.  I suspect that I am going to have trouble paying my debts for the next _______ years.  

I want to do everything I can to keep my accounts current and stay out of bankruptcy court.   Therefore, I am requesting that the interest rate on my Visa be lowered significantly so that my monthly payment will be lowered, and I can continue making my monthly payments without defaulting.

I am currently paying about $____________ to you each month.  I would like this payment reduced to $_________ each month so that I can pay all of my bills and living expenses.  Is it possible for a reduced interest rate on my Visa (or MasterCard) that would allow me to make such a payment?  Thank you for your attention to this matter and I very much appreciate any help you can give me.

Sincerely,


Your name
Mailing Address
Telephone number


Related articles:  Alternate Repayment Plans and Reduced Settlements

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