Unable to Pay Debt Letter (Free Samples)
Use these sample unable to pay debt letters as templates for your formal notification letter.
Last updated on September 19th, 2021
Sample 1 - Unable to Pay Debt Letter
Name of Consumer
Address of Consumer
City, State, Zip Code
Account Number of Consumer
DATE
Name of Creditor Company Supervisor
Name of Company
Address of Company
City, State, Zip Code
Dear Name of Creditor Company Supervisor,
I am writing this letter to inform you that I am temporarily out of work, which has caused serious financial difficulty for my family. I have workers’ compensation as well as unemployment, but these are just enough to pay my mortgage and feed my family.
Because of my hardship, I am asking each creditor to kindly accept a reduced payment of $100 for the next six months. I expect to be back to work and receiving my full salary by that time. If I am able to work sooner, I will inform you and return to making the usual payments of $250 per month.
I prefer to deal with you directly and not a collection agency. I fully intend to pay my debts, but I need a bit more time. I also request that you withhold any interest on my debt for the next six months.
Please send a response to this letter in writing at the address above. I can also be reached at 555-123-4567 and at [email protected]. Thank you for taking the time to consider my request, and I hope to have a favorable reply.
Sincerely,
Signature of Consumer
Printed Name of Consume
Sample 2 - Unable to Pay Credit Card Debt Letter
Name of Consumer
Address of Consumer
City, State, Zip Code
Account Number of Consumer
DATE
Name of Credit Company
Address of Credit Company
City, State, Zip Code
Dear (ENTER NAME),
My name is (YOUR NAME) and I am writing in regards to account (NUMBER) for which I owe (AMOUNT). I cannot pay this amount as my family has fallen under hard time in recent months, but we do want to settle this in a fair and just manner so that you can have the money you deserve and we can be relieved of the burden of owing you this debt.
On (ENTER DATE) I spoke with (ENTER NAME OF PERSON ON PHONE) and he/she said that we could settle this debt for (ENTER 1/4 OF THE AMOUNT), which I can pay by check if you can please send me an agreement to this amount in writing.
Please know that I have appreciated the patience and professionalism that your staff has given in this process, and that this correspondence has been sent,
Sincerely,
[YOUR NAME SIGNED]
[YOUR NAME TYPED
Sample 3 - Unable to Pay Credit Card Debt Letter
Name of Consumer
Address of Consumer
City, State, Zip Code
Account Number of Consumer
DATE
Name of Creditor Company Supervisor
Name of Company
Address of Company
City, State, Zip Code
Dear Name of Creditor Company Supervisor,
I am writing about an account that is in collection with your company. The account number on my statement is 189478593. The original creditor was Capitol Credit Cards and the Visa account number for that card was 4419-0389-3894-0987. The account has not been paid on in almost two years and I want to correct this matter.
When the economy tanked, I lost my job and also suffered from health problems. I didn’t have the money to pay my bills and this account soared from $500 to $2,000 with late fees and interest.
I want to settle the account for the original amount owed $500. I have the money from a small settlement I received from my back. I am unable to return to work, but I still want to make this debt right.
Upon your approval, I will immediately release funds in the amount of $500 and settle this account. Please contact me if you have any questions. I can be reached during the day at 555-980-7390. I look forward to resolving this matter.
Sincerely,
Signature of Consumer
Printed Name of Consumer
By Andre Bradley
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Sample 3 - Unable to Pay Credit Card Debt Letter
Name of Consumer
Address of Consumer
City, State, Zip Code
Account Number of Consumer
DATE
Name of Creditor Company Supervisor
Name of Company
Address of Company
City, State, Zip Code
Dear Name of Creditor Company Supervisor,
I am writing about an account that is in collection with your company. The account number on my statement is 189478593. The original creditor was Capitol Credit Cards and the Visa account number for that card was 4419-0389-3894-0987. The account has not been paid on in almost two years and I want to correct this matter.
When the economy tanked, I lost my job and also suffered from health problems. I didn’t have the money to pay my bills and this account soared from $500 to $2,000 with late fees and interest.
I want to settle the account for the original amount owed $500. I have the money from a small settlement I received from my back. I am unable to return to work, but I still want to make this debt right.
Upon your approval, I will immediately release funds in the amount of $500 and settle this account. Please contact me if you have any questions. I can be reached during the day at 555-980-7390. I look forward to resolving this matter.
Sincerely,
Signature of Consumer
Printed Name of Consumer
By Andre Bradley
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