hardship letter for creditors?

is there a standard hardship letter that can be sent out to all of your creditors, asking for time in repaying debts? Virginia**************.i realize they may still pursue payment immediately but she is hoping that she can get a little time to get caught up. she had cancer and has returned to work. she would like to get her creditors to work with her, but wanted to know about a hardship letter? please help. thanks

[I AM ALWAYS LIABLE]

Originally posted by billyjean
is there a standard hardship letter that can be sent out to all of your creditors, asking for time in repaying debts? Virginia**************.i realize they may still pursue payment immediately but she is hoping that she can get a little time to get caught up. she had cancer and has returned to work. she would like to get her creditors to work with her, but wanted to know about a hardship letter? please help. thanks

My response:

Well, you've got the makings of such a "letter" right here in your own post. Just "dress it up" a little for each particular creditor, explaining what you've said here, mail it out, and hope for the best.

Follow these tips, and your Mom should be okay in the short term. Most creditors are willing to understand for a little while . . .

Even if you don't end up in a courtroom needing documentation, written correspondence can be a powerful tool. A good letter states you are straight forward, professional, organized, and thorough. A well written letter shows that you know what you are doing and shouts that you will expect nothing short of what you state. Additionally, it can serve as a memory jog telling you what a forgotten issue was all about or how you went about doing something the last time. Never underestimate the power of documentation in any form.

Before beginning your letter, know what you are trying to do and don't write a letter when you are angry. The last thing you want to do is aggravate the situation. Go cool off. Then, when you are calm, write down in your own words what you would like to see happen.

The top of all correspondence should include the date written, the subject for quick reference, who the letter is from (you), and who the letter is to.

The remainder of the letter includes:

1. Introduction- Why are you writing? You may also want to include an introduction to what action you want to see as a result of the letter.


2. Body- Include (as needed): the background material, specifics of the current situation, supporting evidence or reference to the support material, suggested course(s) of action, additional questions and concerns.

3. Conclusion- Besides a summary if it is needed, the conclusion should include a strong statement calling for whatever action you are seeking.

Always sign your letter with a legal signature and always include your address with zip code as well as any reference account #. A phone number is optional, but it is often wiser to include it for faster communication or clarification.

In most cases of credit or debt management correspondence, you are trying to show a paper trail. Therefore, it is always recommended that you mail your letter certified-return to show proof that your letter was received.

Keep copies of everything including proof of mailing and proof of receipt. It is relatively easy to purchase a few file folders to maintain what could be important information.

Good luck to all.

IAAL

[Edited by I AM ALWAYS LIABLE on 05-01-2001 at 01:40 AM]