A financial hardship letter should include relevant information only, avoid emotional language and blame, and be truthful and brief in its details. Describe the effects that your situation is having on you, but restrict yourself to an outline of your story, states Letter of Hardship.
Explain in a concise, objective way how your present situation developed, indicate the steps you have already taken to alleviate the problem, acknowledge the difficulties you are having in resolving the matter and make it clear that you understand the relevant rules, notes Letter of Hardship. Your creditors do not have an emotional involvement in your situation, and they are unlikely to respond well to a dramatic presentation. It is a good plan to include a positive but realistic statement concerning your own capacity to resolve the debt issue, according to Mortgage Relief Project.
Because creditors often require a hardship letter from a borrower seeking alternative payment options or financial assistance, include an explanation of the type of assistance you request from them. Providing a full and accurate picture of your financial situation is the best route to securing an alternate payment plan from creditors, temporary relief of debt or another financial arrangement, notes LegalZoom.