Hardship letters are vital documents. Hardship letters are not just any kind of letter that you send to just anyone. It is very much needed for people experiencing financial hardships or instabilities. This is why it is important to know how to write one because you will never know when the hardships in life will come. There are tips on how to write a hardship letter that can convince lenders or creditors. However, before writing it is best to know and understand its purpose which is explaining your hardships to a mortgage company, a bank, or an immigration agency.
What should be included in a hardship letter? It should essentially contain the reason for your missed payments or loan renegotiation. You should also include what agreements you want to settle with the mortgage company or the bank. It is always best that you briefly explain the circumstances that led to your inability to pursue your financial obligations. Always put in mind to include in the letter a solution to your problem.
Writing a hardship letter that can work with any lender is so simple. The only thing that you have to keep in mind while doing it is by keeping it personal. Never lie on your hardship letter and always provide a proof of your current financial situation such as a medical bill or a financial statement. The thing that you should observe in your hardship letter is that you should keep it brief, straight to the point, well detailed, and convincing.