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Sample personal loan modification letter by Bank

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This is an example personal loan repayment letter offer similar to the ones people receive from their banks. Normally, these types of letters are sent to those who are having problems maintaining their monthly payments.

________________________________________


Dear Mr /Mrs,

Want to clear your Personal Loan arrears?

I am currently reviewing your accounts and I believe that there are ways that we can help you to improve the situation with your personal loan finances. We want to work with you to bring your account up to date, so here are some options available.

Option 1 - Are you in a position to afford your normal monthly payments? If you can pay your regular monthly payment then we may be able to allow you to extend the term of the loan, at no extra cost to you, so that you pay any remaining arrears at the end. This arrangement would be a concession on our part and would not alter the terms of your agreement, which would remain legally binding. We reserve the right to withdraw concessions at any time but this would not normally happen providing you keep to the arrangement you have made with us.

Option 2 - Are you unable to meet your monthly payment? If you are unable to afford your normal monthly payment we may be able to reschedule your borrowing over a longer period. Depending on your circumstances, this may be a concessionary arrangement as for Option 1 or it may be on the basis that you enter into a new agreement with us.

Option 3 - Are you able to offer a settlement of less than your outstanding balance? If you are unable to afford your normal monthly payment we could assist you by writing off up to 25% of your personal loan balance should you settle your debt with us.

These options will not necessarily be available in the future, in order to take advantage of one of these options you need to call us by 1st August 2007.

Please call 0000 200 000 so we can talk through your individual situation and determine the best solution for you. Our lines are open between Sam to 7pm Monday to Friday and Sam to 1pm Saturdays.

Please contact me before 1st August 2007

Yours Sincerely,

Signiture

Account Manager

_______________________________________


For information on how to write effective letters go to the All Cover letters website. You can find additional samples free at Credit Letters UK


Sample personal loan modification letter by Bank
Sample personal loan modification letter by Bank


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x300  says:
3 months ago

thank you

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