Example Letter #1
I received your most recent letter requesting payment in full on my account. Due to unemployment, I am unable to make such a large payment.
I am enclosing a good faith payment of $100.00. When I find new employment, I should be able to bring my account current. I can afford to make monthly payments of $100.00 until that time.
I hope that is agreeable to you. Thanks for your understanding.
Example Letter #2
This letter is to inform you that we are unable to make the full payment on our account this month. Last month we had a medical emergency that resulted in extra expenses. In addition, I have been unable to work for two weeks.
We realize that our scheduled minimum payment is $50; however, we are able to send only $10 right now. We hope you will accept this small payment as evidence of our good faith and intention to pay our balance in full. It may take us three or four months to get all of our bills caught up. We hope that you will allow us to continue to pay $10 per month until we are again able to make the minimum payment in full.
Please let us know if this is acceptable, or if we need to make other arrangements. We apologize for this problem. We have been customers in good standing and have made our payments regularly until now. We appreciate your understanding and cooperation as we recover from this temporary financial setback.
Example Letter #3
I regret that I cannot remit payment in full on my account this month. I have been ill and have missed over two weeks' work, without pay. Naturally this has been a hardship. I am now recovered and have returned to work and fully expect to resume payments in full next month. Enclosed please find a check in the amount of $11.38, the interest on this month's balance. I hope that I can avoid accruing any late payment penalties by resuming payment next month. If this is not satisfactory, please let me know so that I may make other arrangements. Thank you for your patience in this matter.
Example Letter #4
This letter is to inform you that I will be unable to send my car payment on time this month. I missed two weeks of work last month due to my mother's sudden illness and death, so my paycheck was smaller than usual. I will send the payment in full on the first of the month, and will be able to make my payment on time in January. Thank you for your patience and understanding.
Write Your Letter Step-by-Step
1 Inform your creditor that you cannot pay the full amount due at this time.
Sample Sentences for Step 1
- We regret that we cannot make our full payment this month, but we intend to do so in the near future.
- I received your letter asking for $625.75, the entire balance of our account, by the end of the week. However, I am embarrassed to tell you that we lack sufficient funds to make the payment by that date.
- We are sorry that we are unable to make our full payment by the last day of this month.
- Although we agreed to pay for your services in three installments of $2,500.00 each, I regret that I will not be able to make the last payment by the appointed date.
- We were surprised when the bank notified us that our last payment check was returned to you due to insufficient funds.
- I appreciate the courteous letter you sent last week indicating that you had not yet received this month's installment. I want to assure you that I fully intend to honor our agreement.
- I am sorry that I have not sent my check. I am experiencing some financial difficulties.
Sample Phrases for Step 1
- although we agreed to pay
- am aware that
- am embarrassed to tell you
- am unable to
- are sorry that
- are embarrassed that
- at this time
- by March 15
- by the specified date
- by the end of
- am unable to
- due this month
- fully intend to
- in the near future
- lack sufficient funds to
- let you know that
- need to ask for
- make the payment by
- make this month's payment of
- only a partial payment
- outstanding balance of
- pay the entire amount
- payment for the
- received your letter
- regret that we cannot
- regret to inform you that
- temporary financial difficulties
- will pay the balance by
- want to assure you that
- will be late
- will not be able to
- will be unable to
- would appreciate the opportunity to
2 Explain the reasons you are having difficulties in making your payment. Let your creditor know that your setback is temporary and that you will not default on your contract.
Sample Sentences for Step 2
- Because of a new government regulation, we have had to delay production for several weeks. As you can imagine, this has caused us significant financial stress.
- We suffered unexpected medical and automobile expenses this month, but anticipate being able to meet all our commitments by March 15.
- Because of the economic troubles that most individuals in our community are facing, business has been unusually slow this season.
- Due to financial difficulties that we did not anticipate, business has been slow. We expect to be back to normal operations by June.
- Since I lost my job a few months ago, I have been struggling just to feed my family. Our finances have reached such a low point that I am afraid that I must request that you suspend my payments for a limited time. I received a job offer a few days ago, so it will be just a short time before I can regain financial stability.
- As you are surely aware, this city is experiencing a recession that has affected most of the businesses in the area, including ours.
Sample Phrases for Step 2
- a problem throughout the
- along with other small businesses
- as you are surely aware
- as you can imagine
- business has been
- did not anticipate
- difficult economic times
- due to an error by
- due to financial difficulties
- has been a delay in
- has seriously affected
- has caused us serious problems
- have discovered an error in
- have had problems with
- have recently acquired
- have been forced to delay
- lost my job
- on account of
- since I was laid off
- since I lost my job
- the reason we are unable to
- unusually slow this season
- was delayed by
- was obliged to
- were destroyed in a
- would like to point out that
3 If possible, offer partial payment now.
Sample Sentences for Step 3
- Enclosed is a check for $1000.00. I realize that this is not the full amount due, but I want to assure you that I am serious about honoring our agreement.
- Please accept the enclosed check for $200.00 in partial payment of the amount due.
- I have enclosed $550.00 with this letter as an assurance of my intent to pay.
- Enclosed is a check for $120.00 to be credited to my account.
- I am sending this check for $70.00 until I can pay the remainder of the amount due.
- Although I cannot afford to pay the full amount at this time, I hope you will accept this check for $250.00 as partial payment for your services.
Sample Phrases for Step 3
- although I cannot afford to
- as much as I can afford
- as soon as I am able to
- as partial payment
- enclosed, please find
- have enclosed with this letter
- have enclosed a check for
- hope you will accept
- make arrangements to
- make the payment in full
- part of the amount due
- please accept the enclosed check
- please consider this
- realize that this is not
- the enclosed check for
- to be paid toward
- until I can pay the amount in full
- want to assure you that
- will pay the entire amount
- will pay the remainder
- will not default on
4 Offer a solution to the problem such as an alternative payment schedule or date.
Sample Sentences for Step 4
- If possible, I would like to delay payment until the first of next month. Thereafter I will be prompt with all payments
- We are making arrangements at this time to acquire the necessary funds to keep our business running. Would it be possible for us to pay interest only for the next three months?
- Now that we have adjusted our cash flow, we will make both this month's and next month's payments during the first week of next month.
- We have made our payments on schedule for the last three years, so we hope you will forgive the late payment. You should receive it, along with the late fee, by the end of the month.
- You will receive the remainder of our payment by the end of the month, or as soon as we receive our client's delayed check.
Sample Phrases for Step 4
- are making arrangements to
- as soon as I can
- by the end of the
- by the end of the month
- for us to pay interest only, until
- have made all previous payments on schedule
- hope you will forgive
- if at all possible
- in the past we have always
- plan to resume payment by
- please redeposit our check
- please understand that
- plus the late charges
- restructure our payment schedule
- should receive our payment by
- suspend payment until
- the first of next month
- the balance will be paid by
- the balance of the payment
- to resume our payments
- to make other arrangements
- will catch up by
- will make an additional payment
- work out a temporary arrangement
- would it be possible
5 Thank the creditor for patience and understanding during this difficult time.
Sample Sentences for Step 5
- Thank you for your understanding and cooperation during this difficult time.
- We appreciate your willingness to work with us on this temporary problem and hope that we can continue to do business with you for years to come.
- Thank you for your kindness and understanding.
- You can expect our regular payments to resume in the near future. Until then, we appreciate your willingness to accept an alternative arrangement.
- We want to express our gratitude for your patience and understanding.
- Thank you for working with me during this difficult time. I hope you will accept this alternative payment schedule.
- I hope this alternative payment plan will be satisfactory.
Sample Phrases for Step 5
- accept an alternative arrangement
- accept this payment schedule
- appreciate your willingness to
- can expect our
- continue to do business with you
- during this difficult time
- for your cooperation
- for understanding our situation
- for your kindness
- for your patience and understanding
- hope that we can
- hope that you will
- our account with you
- plan to be current with
- sorry for the inconvenience
- sure that you understand
- thank you for
- this temporary problem
- want to express our gratitude
- will be satisfactory
- willingness to work with us