(Your Address Line 1)
(Your Address Line 2)
(Date)
Mr. / Ms. (Complete Name) (Title/Position)
(Company Name of Creditor) (Address of Creditor Line 1) (Address of Creditor Line 2)
Dear Mr. / Ms. (Last Name), Subject: (Your Account Number)
I have been doing business with you for the last 10 years and I must say that our business relationship has been mutually beneficial. A review of your records will show that I have not been remiss in the fulfillment of my financial obligation to your institution. However, the economic crisis that has been crippling many individuals has shown its toll on me.
Due to my present financial condition, may I recommend that my monthly payment on my loan balance be reduced to $ (amount) from the previous $ (amount). Consequently, the number of months that I have to pay would be extended to 36 months instead of the previous agreement of 24 months.
I am looking forward to hear from you on this payment recommendation for my loan balance. Should you need to get further information, please feel free to call me at 555-555-5555.
Sincerely,
(Your Signature) (Your Name in Print)
If you enjoyed this article, please consider sharing it!
