Credit Card Hardship Letter – Sample

If you are having trouble paying off your debt and need to look at some sample credit card hardship letters, you’re in luck. Below, I’ve provided some examples you can use. All you need to do is simply take the template and fill in your own contact information. While sending a credit card hardship letter is not a magic bullet, and won’t solve all your problems, it is a start to take control of your finances before it spirals completely out of control.

Keep in mind that the bigger percentage of your debt that you are able to pay off, the more successful you will be in your request. In your first letter, you should be willing to pay off at least 25% of your debt. Explain your situation in detail, but do not exaggerate your situation. Try to keep your letters short and simple. Below are two examples of a credit card hardship letters that you can use to help prevent a spiraling debt problem.

Example of a letter asking for a pay raise based on strong performance

Example #1 Reduction in Balance

Dear John Smith,

I am writing you this letter to inform you that due to financial difficulties, I will be unable to fully pay my bills.

Due to being laid off last month, I have lost not only my income, but also my medical insurance, which I need to pay for my child’s hospital bills. As a result, I have not been able to make my monthly payments on time, resulting in steep penalty fees. Although my credit card was charged only $7,000 dollars, my total repayment balance is $10,000.

I am asking for a debt settlement on my credit card account. My brother is willing to help pay for the $7,000 along with any interest that I owe to your company. Forgiving the severe penalties I face will help me greatly in paying back the money that I owe.

I have enclosed all my financial statements from the last 12 months. If you have any questions please do not hesitate to contact me. I hope to work closely with you in the coming months so that I can pay off my total balance.


Jane Doe

Credit card companies make the bulk of their money by charging interest on part of the balance that you do not pay back every month. When you simply pay the minimum amount due, you do not get penalized but you’re charged an interest on the balance that you don’t pay back. The interest rate ranges for the last few months have been hovering at around a whopping 15%, which is high if you owe a lot of money. A lot of credit card companies target risky cardholders who have trouble managing their money. Below is a sample letter asking for a reduction in the interest rate.

Example #2: Reduction in Interest Rate

Dear John Doe,

I have been a customer with your company for several years and I’ve always paid my bill on time. However, I was recently laid off from my job and I have been trouble paying off my total balance. I have been paying off the minimum amount that is due, however due to a high interest rate on my remaining balance, the amount I need to pay back continues to increase.

While I am still determined to pay back everything that I owe, I am requesting a reduction in my interest rate. If you were to reduce the interest payment from 12 to 6%, I am confident that I will be able to completely pay off my balance by the end of the year.

I have attached my entire financial history to show you that I’ve always paid my bills on time. I am a loyal customer and I wish to continue using the service that you provide. I appreciate your time and consideration. I look forward to hearing back from you in order to discuss the next few steps.


Jane Doe

It is best to keep your letter short and straight to the point. Explain your reason for being unable to make the full payment in a few sentences, but do not dedicate an entire paragraph unless it’s absolutely necessary. Make reasonable claims and show that you are willing to compromise to help pay off your debt. If you come out saying that you can’t pay any of your total balance, your credit card company will not be very receptive to your request.

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