Example Letter #1
I received your most recent letter requesting payment in full on my account. Due to unemployment, I am unable to make such a large payment.
I am enclosing a good faith payment of $100.00. When I find new employment, I should be able to bring my account current. I can afford to make monthly payments of $100.00 until that time.
I hope that is agreeable to you. Thanks for your understanding.
Example Letter #2
This letter is to inform you that we are unable to make the full payment on our account this month. Last month we had a medical emergency that resulted in extra expenses. In addition, I have been unable to work for two weeks.
We realize that our scheduled minimum payment is $50; however, we are able to send only $10 right now. We hope you will accept this small payment as evidence of our good faith and intention to pay our balance in full. It may take us three or four months to get all of our bills caught up. We hope that you will allow us to continue to pay $10 per month until we are again able to make the minimum payment in full.
Please let us know if this is acceptable, or if we need to make other arrangements. We apologize for this problem. We have been customers in good standing and have made our payments regularly until now. We appreciate your understanding and cooperation as we recover from this temporary financial setback.
Example Letter #3
I regret that I cannot remit payment in full on my account this month. I have been ill and have missed over two weeks' work, without pay. Naturally this has been a hardship. I am now recovered and have returned to work and fully expect to resume payments in full next month. Enclosed please find a check in the amount of $11.38, the interest on this month's balance. I hope that I can avoid accruing any late payment penalties by resuming payment next month. If this is not satisfactory, please let me know so that I may make other arrangements. Thank you for your patience in this matter.
Example Letter #4
This letter is to inform you that I will be unable to send my car payment on time this month. I missed two weeks of work last month due to my mother's sudden illness and death, so my paycheck was smaller than usual. I will send the payment in full on the first of the month, and will be able to make my payment on time in January. Thank you for your patience and understanding.
Write Your Letter Step-by-Step
Inform your creditor that you cannot pay the full amount due at this time.
Explain the reasons you are having difficulties in making your payment. Let your creditor know that your setback is temporary and that you will not default on your contract.
If possible, offer partial payment now.
Offer a solution to the problem such as an alternative payment schedule or date.
Thank the creditor for patience and understanding during this difficult time.