If you are having trouble making your credit card payments, you may want to contact them and ask them if they can work out an alternate payment plan for you, reduce the interest rate or even the debt. But you will have to explain to them the circumstances you are in to convince them.

City, State Zip



Dear Sir/Madame:

I am currently undergoing some financial difficulties and I fear I will no longer be able to make my monthly obligations to you. I don’t want to declare bankruptcy, and I feel a moral obligation to try and work out something with you so I will not have to default on this debt. I would like to work out an alternate payment plan with you if possible.

I would like to propose that you close my account, waive the interest payments and accept a new balance of 50% of what I currently owe. I can make a monthly payment of.

Here are the circumstances in which I find myself.


I’m sure you will agree that the situation I described above has forced me to this point. Please feel free to have one of your representatives call me and work out a final plan. If you feel you can’t work with me, I will be forced to default on this account and pay creditors who can work with me. Thanks for your time.


Your name



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