Hardship Letter Timeshare

I am writing this letter because I am unable to continue paying the {principal, maintenance fees, etc.} on my timeshare property. This property is {deeded, right to use, paid in full}. I am concerned that without modification of my contract I will have to resort to foreclosure, something that I am hoping to avoid.

Please believe me that I am in no way trying to shirk my responsibilities. I understand that I entered into a contract and that there are penalties for not paying. However, my financial situation has recently become extremely severe due to circumstances beyond my control. I have {lost my job, had a death in the family, contracted a terminal illness, be specific} and all of my disposable income is being used to pay for {specific expenses}.

I understand that there are several options at this point, but I would like to request a modification in lieu of selling the property back to you. I believe that I can get back on my feet, but I need more time to do so. I would like to {reduce the principal, defer the maintenance fee, etc.}.

I appreciate your time and consideration and look forward to working out a payment plan that works for both of us.

Index of Hardship Letter Examples