So, you are faced with serious financial challenges in paying your bills. An idea comes to you that seeking a loan modification might help you reduce the financial burden and ultimately help you overcome the hardship. You wonder how to write a convincing or persuading loan modification hardship letter. Here are some tips on how you can achieve results with your first strike. The letter to your lender might be the key to saving you from the problematic situation.
Use a convincing narrative
The first step is that you must try to structure your communication strategy in a way that it will capture the attention and persuade the lender. First ensure your statements are short, straight to the point and understandable. Secondly, use strong words, such as ‘I will do everything possible to pay the loan.’ You must sound confident and credible. Ensure you will not waste the lender’s time when reading your letter. The communication strategy you adopt must promote decisiveness and desire to meet your debt obligations aside from showing some courtesy.
Include all the necessary information
Applying for a loan modification service is like offering to change the previous agreement or deal, which currently is detrimental to you but is profitable to the lender. Know that the lender will only act with the information you will provide and sometimes, will send a loan modification inspector. If you provide unnecessary information or half of the information then you will be denying the lender an opportunity to make a decision. The consequence will be your request won’t be considered. It is the strength of your letter that makes your case that includes the information about your financial information and the reason behind it. The information must be there to compel the lender for approving a loan modification.