This is a hardship letter addressed to the lender. In this letter, the addressor/borrower apologises for delaying the loan payment and explains the delay. Additionally, the borrower encloses a budget for future expenditure and revenue to ensure the lender that they would be able to make prompt payment.
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The Hardship Letter is a document that is used to communicate with a party who owes a debt and has failed to make the required payment. This letter serves as a formal notice to the debtor, informing them of their past due account and requesting immediate payment.
The document begins with the title 'Hardship Letter', which clearly indicates its purpose. The content of the letter starts with the identification of the parties involved. The account job company and address are mentioned, followed by the contact details such as telephone number and email address.
The letter is addressed to 'party 2 name' and their address is provided in multiple lines. The current date is also mentioned to establish the timeliness of the communication.
The salutation 'dear title last' is used to address the recipient in a respectful manner. The letter then proceeds to inform the recipient about the outstanding amount that is past due. The specific amount and the due date are mentioned to provide clarity on the payment that is overdue.
The letter further states that previous attempts have been made to contact the recipient via email, but no payment has been received. The sender then provides a summary of the recipient's account details, which includes any relevant information regarding the outstanding balance.
The sender requests the recipient to make the payment by a specified date, emphasizing the importance of settling the account. The letter concludes with contact information for any inquiries and is signed by the account first name and last name, along with their job title at the account job company.
Additionally, the letter suggests that the recipient may need to provide future budget, bank statements, and other supporting documents to further address the outstanding debt. These documents can be attached to the letter for reference and verification purposes.
1. Identify the parties involved: Fill in the relevant information for the account job company, including the address, phone number, and email.
2. Address the recipient: Enter the name and address of 'party 2' in the designated fields.
3. Specify the past due amount: Insert the specific outstanding amount and the due date to clearly communicate the urgency of the payment.
4. Summarize the account details: Provide a brief overview of the recipient's account, including any relevant information regarding the outstanding balance.
5. Request immediate payment: Clearly state the desired date by which the payment should be made, emphasizing the importance of settling the account.
6. Provide contact information: Include the contact details for any inquiries or further communication.
7. Sign the letter: Sign the letter with the account first name and last name, along with their job title at the account job company.
8. Attach supporting documents: If necessary, include future budget, bank statements, and other supporting documents to further address the outstanding debt.