Creditor Reduced-Payment Request for Account

[Date]

Creditor                                                          *****SENT VIA CERTIFIED MAIL*****

City, State, Zip

RE:   REDUCED-PAYMENT REQUEST FOR ACCOUNT

Dear [name]:

I am currently experiencing financial difficulties because [reason]. 

I have examined my finances and developed a careful budget that includes payment to each creditor. 

In order to provide for my necessary expenses, I am requesting that each creditor accept a reduced payment until my situation improves with the full understanding that the reduced payment is temporary.  In place of my regular payment of [amount], I am requesting that you accept payment of [amount] each month.

I am making every effort to correct my financial situation and expect things to be resolved as of [date]. Until I resume my regular repayments, I will not incur any new debt obligation.

Upon your approval, I will immediately remit my first reduced payment.

Thank you for your understanding and cooperation during this difficult time.

If you have any questions or need additional information, please contact me at address listed below.

Sincerely,

Bruce Smith

Address

City, State, Zip