Debts are something that no one likes and if you are not able to pay your debt because of some reasons then you can always ask the company or the bank for a new debt repayment plan so that you can make the payments on time and have your debt written off.
This post includes a sample letter to request a debt repayment plan. Use this Reduced Payment Request Sample Letter as the base for creating a new one for yourself. This Sample letter requesting payment of debt will make it easier for you to have one for your needs.
Format for Request Letter for Debt Repayment Plan
From:
Arnold Smith
54, Richmond Street
New York
Date: February 28, 2024
To,
The Manager
ABN Bank
New York
Dear Mr. Brown,
Sub: Request for Debt Repayment Plan
Respected Sir/ Madam,
I, Arnold Smith, am writing this letter in reference to the unpaid balance of $ 20,000 on my account with your bank, Account No. 123456.
My wife has lost her job and therefore, I am unable to make the monthly payment of $ 2000 which was the arrangement I had decided. Therefore, I am writing this letter to kindly issue me a revised debt repayment plan for my outstanding debt with your bank so that I can comfortably repay the debt. I would be comfortable paying a monthly amount of $ 1000 every month initially and if my wife is able to find a job for herself soon then I would be happy increasing the amount and then again I will get in touch with you to have the monthly payments increased.
I am hopeful that you are going to understand my situation and have the new debt repayment plan shared with me. If you wish to contact me then you can get in touch with me at 9898989898 or you can email me at [email protected].
Looking forward for your response. Thank you for your time and attention.
Sincerely,
Arnold Smith
54, Richmond Street
New York