Subject: Request for Temporary Reduction of Loan Payment Amount — Urgent Financial Hardship [Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Designation] [Creditor's Name] [Creditor's Address] [City, State, ZIP Code] Dear [Recipient's Name], I hope this letter finds you in good health. I am writing to discuss my current financial situation and request your assistance regarding a temporary reduction in the monthly installment for my loan with [Creditor's Name]. Due to unforeseen circumstances, I am facing significant financial hardship that has adversely affected my ability to meet my financial obligations. [Describe briefly the nature of the financial hardship you are experiencing, such as loss of employment, medical expenses, family emergency, etc.] This unfortunate situation has created immense stress and anxiety, making it extremely challenging for me to make the full payments required under our loan agreement. I want to acknowledge my responsibility for the loan and assure you that I remain committed to fulfilling my obligations. However, given the severity of my current situation, I respectfully request your kind consideration in temporarily reducing my monthly loan payments for a period of [state the duration you are seeking the reduction]. To provide you with a clear understanding of my circumstances, I have enclosed the necessary supporting documents, including [list the relevant documents, such as bank statements, proof of income loss, medical bills, etc.]. These documents substantiate the extent of my financial struggle and validate my need for a temporary loan payment reduction. I kindly request that you review my situation and correspondingly adjust the monthly installment amount. While my ultimate goal is to repay the outstanding loan balance in full, I believe this proposed temporary reduction would provide me with much-needed breathing room during this challenging time, allowing me to stabilize my finances and build a path towards repayment. I would greatly appreciate your understanding and assistance in this matter. Any temporary reduction granted would immensely alleviate the financial burden I am currently facing. Rest assured that I will remain in close communication with you and provide regular updates on my financial situation. I kindly request your prompt attention to this matter given the urgency of my circumstances. You may reach me by phone at [Phone Number] or via email at [Email Address]. I sincerely thank you for your understanding, patience, and prompt action regarding my request. Thank you for your time and consideration. I eagerly await your favorable response. Yours sincerely, [Your Name]
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.