A sample of a letter of hardship is a signed, written memo or letter to a financial lender explaining that the sender is in need of a payment deferment, a modification of the loan stipulations or a reduced payment amount. The letter provides the lender with specific reasons the sender is unable to make payments, such as loss of employment, increased medical bills, loss of financial support or disability status.
The letter should begin with a general statement that explains why the sender is writing the letter. For example, the letter may begin with "I am currently experiencing a financial hardship and would like to request assistance with reducing my payments or dissolving my debt with your institution." The letter should then provide an explanation of how the financial hardship occurred. For example, the sender may write "I was released from my place of employment two months ago and have actively been searching for new employment without any success, therefore creating financial distress and hardship for myself and my family." The letter should also clarify that the sender is not trying to negate responsibilities to the financial obligation and offer a potential solution, such as "I can pay $50 a month toward this loan until I have acquired new employment." The letter should close with a signature and contact information for the sender.