The vast majority of hardship letter sites on the internet are devoted to loan modifications and helping consumers draft hardship letters for them. However, hardship letters are required and can be used for: short sales, credit card debt negotiation, requesting lower interest rates on credit cards and installment loans and a host of other consumer loans.
The reason hardship letters are so effective in recent history is that lenders are having a difficult time keeping their paying clients paying their bills on time. The debt settlement industry is going through an enormous boom at present because of the state of economic affairs in America and all over the world. The moral of the story is that a well crafted hardship letter accomplishes a number of goals:
1. It puts your lender on notice that they may be losing a great deal of money if they don’t pay attention to you.
2. It makes your lender understand that you’re not some “run of the mill idiot” that doesn’t care about their finances.
3. It tells a personal story in a short time frame that loss mitigation agents may connect to personally.
4. If you’re hardship is related to active military deployment or other legally protected statuses, your lender may have to legally come to your assistance.
5. It establishes a record of correspondence with your lender. This is important if you ever decide to file a lawsuit against your lender.
There are a number of other reasons that hardship letters can help you and they are not all related to loan modifications. If you need a sample hardship letter and you can’t find one on this site then please leave us a comment and we will begin the work of drafting a sample hardship letter that will work for your specific context.
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Please send me hardship letter sample and least cost to file loan modification recent quotes are do it yourself kit for $297 and lawyer company $3000 up front (Scheer Law Group). Big Gap! Indybank (now One WEst) Please help me with options
Hello and Aloha from Hawaii,
This week I had to register in my state for unemployment and this is my very first time being unemployed at the age of 53. I am taking care of my husband thats on disability from 2007, also my mother age 84 and part of our home expense my brother contribute $500 each month.
I haven’t been scared till my very first day being unemployed and worrying how will I afford to pay my mortgage that is under $3000 each month. As for other expense I will probably be behind medical expense that are over $4000. I have two credit cards that are over $22,000 and I do know within a few more months I will probably be behind my credit cards debt too.
I am very scared of losing my home because at the end I probably will foreclose this home and my family will be homeless.
Please help me write a hardship letter sample so I can file an loan modification with my bank.
Thanks and ALOHA!
Jane Sibley