Hardship Letter

First, I'm sorry you're here. Whatever your hardship, I hope you know you are not alone and this, too, shall pass.

A hardship letter is a brief overview of how you arrived at such a difficult financial crossroads. Sometimes it's because of mounting medical bills, a job layoff, a divorce, or other serious setback. Whatever the case may be, sometimes you need to send out a hardship letter to get the creditor off your back or ask for some leniency.

It's not difficult to put a letter together and it might give you a better idea of how you got into this mess. Below is an example of what your creditor might be looking for. A few things to remember: tailor it to fit your situation, keep it short and to the point, and don't exaggerate.