Credit card hardship letter examples.

Below you will find examples of hardship letters. While a hardship letter will not magically get you out of debt, it is a great tool to use to begin the process. There are several things to consider when writing a credit card hardship letter, and they include:

• Your first letter should offer to pay anywhere from 15-25% of your credit card debt.
• Be polite, considerate, and professional in the letter
• Never sound extra eager to settle your credit card debt as time can be on your side in that the older your credit card debt gets, the harder is for them to collect it and the more likely they are to offer you a deal.
• Present an offer you can afford to pay off
• Send them copies of financial documents, including pay stub (or unemployment info), bank statements, investments, copies of expenses such as utility bills, mortgage payments, etc. They will need all documentation.
• If you are not familiar with debt settlement programs, learn more before sending the letter. Click here.

 

 

 

Example #1 of a credit card hardship letter

Note, all text in italics should be replaced with information on your personal situation.

Date:
Credit Card Issuer’s Name
Mailing address
Credit card company phone number

RE: Hardship Letter

I am writing you this letter as I need to inform you of my present financial condition and difficulties I am experiencing. I am asking for a settlement of my credit card balance of twenty percent of my outstanding balance.

I have experienced a considerable drop in my income over the last X months and with the high interest charged on my account, I can’t continue to pay my monthly credit card payments of X dollars per month. 

I have enclosed in this envelop copies of my financial statements and documents. I have included my past due statements for my credit card bills, copies of late payments statements, my pay stubs and 2 months of proof of income,  last 3 months of bank statements, information on repossessions, copies of credit card statements. Please let me know if you need more information.

After you agree in writing of your decision to accept my offer of a settlement, the total amount I owe will be mailed to you within 5 business days.

I also went to let you know that I am making similar arrangements with all of my other creditors, including credit card issuers, so I do not have to file for bankruptcy.

Please review my offer and thank you for I any effort you can make to help me in this regard.

If you have any questions or want to discuss my proposal, please do not hesitate to call me at (provide personal phone number)

Thank you for your consideration.

Sincerely,

Your name
Mailing address
Phone number
Credit card account number

 

 

Credit card hardship letter example #2

Date
Credit card company's representative (if you have it)
Credit card company's name
Address
Company's phone number

RE: Hardship Letter For credit Card Account list your account number:

Dear Name:

Due to my recent financial condition I am writing you this letter to request a settlement of my unpaid debt at 20 percent of the balance due.

Over the last X months my household income has dropped considerably due to (job loss, medical condition, illness, etc.), which has made it impossible for me to continue to make my full monthly payments.

Please find enclosed copies of my financial statements, information on my income, and other documents that will prove my hardship at the current moment. (Be sure to include any late payments statements, bank statements, car repossession, records of your income, past due statements, etc.)

Please note that I am trying to avoid a bankruptcy filing and that I am currently requesting debt settlements with all of my other creditors with whom I need to make similar arrangements and plans.

I am requesting that you seriously review and accept my settlement offer. As soon as you accept it in writing, I will immediately mail the payment to your organization within five business days.

If you have any questions or if you wish to discuss this settlement offer, please do not hesitate to call me and I can be reached at (your phone number).

Thank you.

Sincerely,

Your name
Address
Account number