Sample Letter To Lender Explaining Delinquent Debt
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How to fill out Sample Letter For Short Sale Request To Lender?
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FAQ
Letters of explanation addressing these issues should include: An explanation of the negative event. The date it happened. The name of the creditor. Your account number. Your signature and date (if typed or hand-written)
Credit card delinquency refers to falling behind on required monthly payments to credit card companies. Being late by more than one month is considered delinquent, but the information is typically not reported to credit reporting agencies until two or more payments are missed.
A letter of explanation may provide the extra documentation needed to: Clear up any discrepancies on your credit report, like late payments or cosigned loans. Verify the dates of major credit issues like bankruptcies or foreclosures. Help an underwriter understand how you earn money or why your income changed.
How to write a letter of explanation Facts. Include all the details with correct dates and dollar amounts. Resolution. Explain how and when the situation was resolved. Acknowledgment. It's important that the letter outline why the problem won't arise again. Recognize if and how you could have avoided this mistake.
To Whom It May Concern: I am writing this letter to explain my late payments on my (mortgage/credit card) to (mortgage/credit card company) in (insert month/year). I am very distressed that this has ever happened to me, but I was <laid off>, <seriously injured>, <going through a death in family> .