New Mexico Sample Letter for Request to Creditor for Temporary Reduction of Loan Payment Amount

• Category: Letters - Loans and Lending - Payment Reductions
• State: Multi-State
• Control #: US-0277LR
• Format: Word; Rich Text

Description

Sample Letter for Request to Creditor for Temporary Reduction of Loan Payment Amount [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] Subject: Request for Temporary Reduction of Loan Payment Amount Dear [Recipient's Name], I hope this letter finds you well. I am writing to discuss the temporary reduction of the loan payment amount associated with my [type of loan] loan. I have been a loyal customer of [Creditor's Name] for [number of years], and I deeply value our ongoing relationship. As you may be aware, due to unforeseen circumstances, specifically [briefly explain the circumstances such as job loss, medical issues, financial hardship, etc.], I am currently facing significant financial challenges that have severely impacted my ability to meet my monthly loan payment obligations promptly. In light of these circumstances, I kindly request that you consider temporarily reducing the loan payment amount for a period of [specify duration, such as six months]. During this time, I assure you that I will diligently make the revised payments consistently. By doing so, I intend to demonstrate my commitment to honor my obligations and eventually return to the regular payment schedule as per the loan agreement. To support my request, I have included relevant financial documentation that clearly shows my current financial situation. These documents include [list the documents, such as bank statements, income statements, medical bills, redundancy notice, etc.]. I would like to emphasize that my intention is not to evade payment but rather to request temporary relief, enabling me to regain financial stability without defaulting on my loan. I hope that [Creditor's Name] understands and empathizes with my situation and can provide the support I need during this challenging time. Furthermore, I understand that this request for temporary reduction of loan payment amount may require certain adjustments to my loan agreement. Therefore, I request that you provide me with a written response outlining any modifications to the loan agreement, terms, and conditions, if applicable. Please note that I am open to discussing any alternative solutions to address this matter promptly. I sincerely appreciate your prompt attention to this matter and your consideration of my request. I believe that with your assistance, I can overcome this temporary financial burden and resume our previous positive borrower-creditor relationship. Furthermore, I look forward to your favorable response and appreciate your understanding in this matter. Please do not hesitate to reach me at [your phone number] or [your email address] should you require any further information or discuss this matter in more detail. Thank you for your time and consideration. Yours sincerely, [Your Name]

[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] Subject: Request for Temporary Reduction of Loan Payment Amount Dear [Recipient's Name], I hope this letter finds you well. I am writing to discuss the temporary reduction of the loan payment amount associated with my [type of loan] loan. I have been a loyal customer of [Creditor's Name] for [number of years], and I deeply value our ongoing relationship. As you may be aware, due to unforeseen circumstances, specifically [briefly explain the circumstances such as job loss, medical issues, financial hardship, etc.], I am currently facing significant financial challenges that have severely impacted my ability to meet my monthly loan payment obligations promptly. In light of these circumstances, I kindly request that you consider temporarily reducing the loan payment amount for a period of [specify duration, such as six months]. During this time, I assure you that I will diligently make the revised payments consistently. By doing so, I intend to demonstrate my commitment to honor my obligations and eventually return to the regular payment schedule as per the loan agreement. To support my request, I have included relevant financial documentation that clearly shows my current financial situation. These documents include [list the documents, such as bank statements, income statements, medical bills, redundancy notice, etc.]. I would like to emphasize that my intention is not to evade payment but rather to request temporary relief, enabling me to regain financial stability without defaulting on my loan. I hope that [Creditor's Name] understands and empathizes with my situation and can provide the support I need during this challenging time. Furthermore, I understand that this request for temporary reduction of loan payment amount may require certain adjustments to my loan agreement. Therefore, I request that you provide me with a written response outlining any modifications to the loan agreement, terms, and conditions, if applicable. Please note that I am open to discussing any alternative solutions to address this matter promptly. I sincerely appreciate your prompt attention to this matter and your consideration of my request. I believe that with your assistance, I can overcome this temporary financial burden and resume our previous positive borrower-creditor relationship. Furthermore, I look forward to your favorable response and appreciate your understanding in this matter. Please do not hesitate to reach me at [your phone number] or [your email address] should you require any further information or discuss this matter in more detail. Thank you for your time and consideration. Yours sincerely, [Your Name]