Letter To Creditors Requesting Short Term Payment Relief

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Letter To Creditors Requesting Short Term Payment Relief

Name of Creditor
Creditor Address
City, Province, Postal Code



To Whom it May Concern:
Due to [specify reason, e.g. layoff, downsizing, labour dispute], I am temporarily unemployed and as such I am facing financial difficulties. As a result of my current hardship, I am asking each of my creditors to accept a reduced payment for the next [specify number of months or billing cycles]. I hope to find suitable employment within that time, and of course if my circumstances improve sooner I will notify you immediately and resume regular payments.
I would appreciate your understanding in this situation as I am unable to make my regular payment of [specify regular amount and frequency].
Please be advised that I will be making payments of [specify reduced amount and frequency] during this period of financial hardship. I also ask that you please consider withholding interest on my debt for this period of time. I request that a collection agency not be involved in my account, as I would prefer to deal directly with [specify creditor name].
Please be assured that I will resume regular payments as soon as I am able to do so. I will notify you when my financial circumstances change.
Should you have questions or wish to further discuss this request, please contact me in writing only at the address below. I will respond to any letters I receive in a timely manner.


Your Name
Mailing Address
Phone Number
Account Number

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