Write a hardship letter to creditors on behalf of your client.
Read on to learn:
A hardship letter can be written to any of a client’s creditors directly to inform them of a hardship that is keeping the client from making normal payments. This letter should be used when clients are truly struggling and need some extra help. When a creditor understands what’s going on behind your client’s late payments, they may be able to offer different options for your clients.
There are many types of hardships and particular circumstances that can keep a client from choosing better financial habits. The most common include:
Each hardship letter should be written specifically for your client’s circumstance. Here’s the information you need to include in each hardship letter: