A Financial Hardship Letter Helped Me
I had never heard of a financial hardship letter until I needed to write one. We had been having a hard time since we both got laid off within a month of each other. We had a difficult time meeting our financial obligations.
At first it seemed all we had to do was cut back a little. Over time it became harder and harder to pay our bills on time. Then it became hard to pay the bills at all. I was told that if we wrote a financial hardship letter explaining our financial troubles to our creditors they would work with us. So I set about putting our financial issues down on paper. It was a hard thing to do but it made it more real somehow writing about what we were going through. Fortunately our creditors did respond positively. They contacted us right away once they received our financial hardship letter. We were able to work with our creditors to establish a payment plan we could afford.
Writing that letter was the best decision I could have made. It took us from an impossible situation to manageable circumstances.
