I am writing this letter to request that a payment plan be worked out concerning my debt to {Company}. Due to financial hardship, I cannot meet the current conditions that are required, but I hope that we can come to an agreement.
My current income is {amount} per month, while my debt is {amount}. The income-to-debt ratio is {amount}, which is impossible for me to pay off at this time. If you can forgive {amount}, I can make a monthly payment of {amount} over the next {period of time}.
I am willing to make a sincere effort to settle this account. I ask only that the litigations against me are dropped and that the account is stated as paid in full. Thank you for your consideration.
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Index of Hardship Letter Examples