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Financial Hardship Letter Format

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    A financial hardship letter explains how you arrived at such a difficult financial situation. Whatever planning we do for the future, be it on education of children, buying a vehicle, insurance and for that matter a house loan from a private or public sector bank is mainly on the calculation of the income and general expenditure that may occur.

    Even the effect of inflation also will be trimmed to some extent. But when something untoward happens like a sudden change in the government policy, workplace that makes considerable dent in the income.

    There is may be a situation like the available income is to be diverted to a major cause like the treatment of self or a close relative. In those situations repayment to a house loan which is a major expenditure for which you would have given standing instruction to the bankers.

    In that case it calls for you to write a suitable letter to the bankers explaining your situation and a request for a put off of the monthly installments for a short period.

    Let us look into how a sample financial hardship letter looks like.

    Sample Financial Hardship Letter To Bank

    Scott Parker,
    ABC Senior Manager,
    76D Main Street,
    Manchester – 30500.


    The Manager,
    (Bank Name)
    (Branch Name)
    (Bank Street Address)
    (City, State, Zip Code)

    RE: (Property Address). (Loan Account Number)

    Dear Sir/Madam,

    I am writing this letter with little trepidation to you. I hold both a banking account as well as loan account number as mentioned above. Till date there are no issues with the repayment of the loan.

    Recently my wife took ill and investigations confirmed that the tumor in her stomach is carcinogenic. I do have insurance cover but not to the extent of the medical expenses incurred for the same. Part of my savings also dwindled over the last two months.

    To tide over this situation I have requested financial help from my company which will be available by the next financial year only, for which there is another five months time. In this juncture I would like to ask you to put off the monthly payments of the home loan for the next six month.

    As you can verify my repayments for almost ten years is on time and considering this and my plight I request you to look into this and take a favorable decision for me.

    Yours Faithfully,


    Learn more on how to write an apology letter for late payment.

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