Dear {debt holder}:
I would like to propose repaying my {bill/loan} in installments. Due to extreme hardship, I cannot afford the lump sum at this time.
While I am dedicated to honoring my commitments, {unexpected occurrence}. I expect to be back on my feet in {time period}.
May I please pay you {amount} every {time period}? I would greatly appreciate this flexibility. My goal is to pay off all my debts while avoiding bankruptcy proceedings.
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Index of Hardship Letter Examples