Letter To Creditors

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Communicate with creditors and explain your situation. Consider returning
goods; try to negotiate smaller payments over a longer period of time.
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Sample Letters to Creditors

No Ability to Pay – Short Term Situation

No Ability to Pay – Permanent

Some Ability to Pay

Tips on Writing Your Letter

Creditors do not have to accept your proposal. However, there are certain things you can do to get their cooperation.

  • Be Polite. Ask for your creditors help, rather than telling them what to do.
  • List all debts. Incomplete, or inaccurate information will reduce creditor cooperation.
  • Explain your problem clearly. If the reason for your financial troubles is because of illness, unemployment, or other misfortune, mention this in your letter.
  • Keep in touch. Let the creditors know if anything changes in your life that would affect your ability to maintain your payments. If something goes wrong, let the creditors know right away. If something odd happens, let the creditors know you’ll be able to pay off your debts sooner.
We can help you determine whether a letter will help your situation

We Can Help With Advice and Writing For
Letters To Creditors

Call for a free and confidential consultation at

1-800-665-9965