How to contact creditors for a reduced payment plan

If you're in financial problems, you may need to contact your creditors and request an alternative payment plan. This is when a letter to contact creditors can help you.


The Letter


Your Name



Your Address



Your Phone #


Credit Bureau's Name:



Credit Bureau's Address:


Date



Dear Sir/Madam,

Re: Account Number

Due to some financial problems I am currently experiencing, I am unable to make payments on the account referenced above. However, I have no plans to file bankruptcy, and do not intend to default on my obligation.

I have communicated with some of my creditors asking them to accept reduced payments of $ in place of my regular payments of $ .I can assure you that I shall not add to my obligations until and unless my financial situation improves.

I shall update you about my financial situation at regular intervals and return to making my normal payments as soon as my situation improves.

I appreciate your co-operation.

Sincerely,


Your Signature



Your Name




What you can get in our community

Educate Yourself

Community Tools & Resources

Community Buzz

DebtConsolidationCare (IAPDA member)
Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV
Connect With Us
About Us | Contact Us | Privacy Policy | Affiliate | Sitemap | Espanol | RSS Feeds | Terms of Services | Newsletters
Copyright © 2015 DebtConsolidationCare | 301 W. 11th Street Unit E Reno, NV 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.580 seconds.