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Loan Modification Hardship Letter Template

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    Looking for guide and template for loan modification hardship letter? Not many people succeed in fulfilling their commitment to debt repayment. At one point or another, borrowers face hardships that may interfere with their repayment plans.

    Before you can think of filing for bankruptcy, try to negotiate new terms of debt settlement with your creditors. The best way to introduce the subject of the matter is by writing a loan modification hardship letter.

    You can get a loan modification hardship letter template from various online letter writing service providers. You only need to do is to download them and fill in the missing text.

    A template is a boilerplate document containing existing information, such as style, text and graphics. It is already formatted as a letter and all you need is to fill in the information you want. It helps you get started and avoid writing a letter that will be rejected on technicalities.

    On a loan modification hardship letter, the borrower should specify the nature of hardships and how the creditor should help in resolving the crisis. There is increasing concern that if creditors do not help clients in the debt repayment process, they risk losing a client base.

    Some of the hardships include illness, burglary to property, business losses and fire. Below is a sample of a loan modification hardship letter.

    Example Of Mortgage Hardship Letter

    Peter Parker,
    ABC Photographer,
    36D Brooklyn,
    New York 30500.


    Credit Division Manager,
    (Creditors Company Name)
    (Creditors Street Address)
    (City, State, Zip Code)

    I am writing to offer my apologies for failure to meet the loan repayment obligations as stipulated in the contract document. I have done everything in my power to abide by the agreed conditions but unfortunately, the death of my spouse is a big blow to our arrangement.

    The business has been greatly affected and I do not think I will be in position to pay, as per agreed terms.

    The reason for my writing to you is seek modifications in loan repayment for the benefit of both our businesses. Your positive response is welcome.

    Thank you,

    Yours Faithfully,


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