How to Write a Hardship Letter?
What is a Hardship Letter?
As the name suggests in itself,
A hardship letter is written when the boat of your life is passing through rough waters and the going has gotten rough.
Surely majority of the times we face tough times when the money is short and the bills & responsibilities have exceeded the income. However, this is not true all the times. Sometimes it could be your life that is in jeopardy and you need to move to another country desperately. This is one occasion where you would and should definitely know how to write a hardship letter for immigration; in the instance where you seek asylum in another country.
However, as stated earlier, majority of the time the crunch will be financial. Under such circumstances you may need to approach a financial institution for assistance. An example of such an institution would be a bank. In such situations, you should be versed with how to write a hardship letter for financial aid. What must be kept in mind is that while the outcome might be the same i.e. a financial crunch, the reasons for such an occurrence can be vast.
Reasons For Writing a Hardship Letter
Some of the reasons that you have landed in a financial pit hole can include:
- You lost your job; unemployment
- If not the loss of a job, lack in income can also be a resultant; pay cuts and demotions
- An injury or medical condition
- Death in the family
- Call to duty; military service
- Voluntary or involuntary job transfers
- Uncalled for repairs or maintenance work required at home
- Marital discord; separation, or divorce
- Unfeasible mortgage terms; too high (something that requires some alteration from the bank)
How To Write A Hardship Letter?
Let us assume that you have landed in the pit hole and now you are writing a hardship letter to a mortgage company. Knowing how to write a hardship letter for a short sale can be tricky because the bank will not simply accept a letter saying you cannot afford to pay the mortgage. You will need to explain and reason with the bank. What you must include in your hardship letter are the following specifics:
- At the top left corner of the letter, you will ink down your name, your complete mailing address and the particulars for the mortgage company you are dealing with
- Next up state the reason you are writing the letter. This will include a brief peep into the problem you are facing because following this you will talk about that part in more detail
- State how you ended up in the situation you are in right now (refer to the reasons mentioned above)
- Detail out all the endeavors you have done to try and get yourself out of the current situation that you are in
- Why & how do you deem the circumstances to be permanent, why they linger on, and how none of your endeavors so far have been able to conquer the situation at hand
Additional Tips for Drafting Hardship Letters
Here’s a little bit of advice. Once you are on your way to write a hardship letter, you might be hit by a reality check and realize that the situation is grimmer than you perceived. Be sure not to let depression overcome you in such circumstances.
You must not let your sense be bewildered nor lose your composure. Some good will come out of your correspondence endeavors with the bank. Remain calm!