When you write a creditor to justify your late payments (mortgage, car, or credit card), the letter should state:
why you are late, (see paragraph 1 of the letter below) how serious you are about fulfilling your commitment to them (paragraph 2 of the letter below), and when you expect to be able to resume full and regular payments, (paragraph 3 of the letter below), what you want from them (paragraph 4 of the letter below) the financial details of your hardship (paragraph 5 of the letter below)
Sample Late cost Explanation Letter
Below is a sample late cost explanation letter. Convert it to impart your own circumstances, but make sure that you enclose copies of financial documents like: checking catalogue statements, tax returns (past two years), all bills from creditors, all late notices, pink slip, anyone else that will prove your hardship.
Cindy R. Williams
9 Turnbill Ct.
Anywhere, Usa 55555
To: Abc Mortgage
Re: Late Payments; catalogue # 12345678
Daytime phone number: (555)555-5555
I am writing to fill in you of my recent financial hardship. I was laid off from my job at Xyz enterprise just before Christmas of 2008. I am diligently seeking other employment, but as you know, jobs are scarce in today's economy. I have not found anyone yet. Being out of work has caused me to be late on my bills.
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