What is a Hardship Letter?
It can be hard to admit that you are in trouble sometimes, especially if you owe various people money or have failed to accomplish a certain goal and it has come at a price.
A hardship letter is a certain type of written correspondence between one person and another or a corporation or other kind of organisation. The purpose of a hardship Letter is very specific but the effects or the requests contained within it can vary from case to case.
Do I Need a Hardship Letter?
The purpose of a Hardship Letter is written by an individual to their creditor explaining whatever kind of financial problems they are having and to request that the person who receives the letter could provide them with some form of help or solution that is specific to their circumstances.
The Hardship letter provides the receiver with a brief overview of the circumstances and choices that lead to the particular financial straits that the person finds themselves in.
What is meant here by ‘hardship’?
Hardship in this sense and this context does not always have to necessarily relate to financial matters, although this is what the word is usually associated with.
Hardship here can broadly mean anything that is effecting your life situation and your ability to pay off your debts.
The main point here is that your life must have qualitatively changed since the time when you took on the repayment of debts. Examples of things that may qualify as hardship are:
- Becoming unemployed
- Having your income reduced by unforeseen events
- A sudden illness or a medical emergency
- Marital breakup
- A death in the family
- Being sentenced to serve time in prison
- Unforeseen damage to a persons property that requires maintenance
- Excessive levels of increasing debt or increased expenses
If you need help in composing a letter of hardship, our team of expersts can find you the right solicitor quickly.
