Auto Loan Hardship Letter Format
Date: [Insert Date Here]
Recipient's Name: [Name of Loan Officer or Lender Contact]
Recipient's Position: [Position, e.g., Loan Manager]
Lending Institution Name: [Name of Lender]
Lending Institution Address: [Street Address], [City, State, ZIP Code]
Subject: Auto Loan Hardship Letter for Loan Account [Account Number]
Dear [Name of Loan Officer or Lender Contact],
I hope this letter finds you well. I am writing to formally notify you of a temporary financial hardship that has impacted my ability to make full or timely payments on my auto loan, account number [Account Number].
Details of the Hardship
The current hardship is due to [specific reason for financial difficulty, such as job loss, medical emergency, or unexpected expenses]. This situation began on [start date of hardship] and has significantly affected my financial stability.
Current Financial Status
As a result of this unexpected change, I am now facing [describe how the hardship has affected your financial situation, e.g., reduced income, increased expenses]. My current monthly income has dropped to [insert amount], while my essential expenses remain at [insert amount].
Request for Assistance
To manage this period and maintain my loan obligations, I am kindly requesting [mention assistance, e.g., temporary payment reduction, deferment, or restructuring of the loan]. I believe this measure would be beneficial for both parties as it would allow me to resume normal payments as soon as possible once my financial situation improves.
Supporting Documentation
Enclosed, I have included the following documents for your review:
[Document 1, e.g., bank statements]
[Document 2, e.g., medical bills or unemployment notice]
Contact Information
I am available at [Your Phone Number] or [Your Email] for any further information or discussion regarding this request. I appreciate your understanding and consideration of my situation.
Thank you for your time and support during this challenging period.
Sincerely,
[Your Name]
[Your Email]
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