Letter of Financial Hardship: Possible Recipients

Letter of Financial Hardship: Possible Recipients

If you find yourself falling on hard times financially, you may decide it's in your best interest to compose some financial hardship letters to various institutions, in an effort to reduce the amount of money you owe monthly.

Below is a list of several of the institutions to which you may write these types of letters, and why.

• Mortgage company, to request a loan modification.

• Mortgage company, to request approval for a short sale.

• Credit card company, to request consolidation or restructuring of your debt.

• Bank, to request a modification for your auto loan, or any other type of loan.

• Hospital and/or doctor, to request your bill be reduced for compassionate reasons, or that your entire bill be forgiven.

• Insurance company, to request that they reconsider a procedure or treatment that has previously been denied.

• College or other school, to request a reduction of tuition or other fees.