Getting delinquent on your monthly debt payments due to financial issues? Try out the sample letter to request an alternative payment plan from your creditor, so you can easily afford your monthly payments.

Letter to Request an Alternative Payment Plan from a creditor

If you have become delinquent on your payments, you can request an alternative payment plan from your creditor , so you can pay off your obligation. Here is a sample of a letter to request an alternative payment plan from your creditor.



Dear ,


This is a request for a temporary change in the repayment terms in the account referenced above.

As I am undergoing some financial crises at present, I may not be able to continue the current payment plan. On reviewing my financial condition and my monthly budget, I found it absolutely necessary to request an alternative payment plan from each of my creditors until my financial state improves.

I do not plan to file for bankruptcy nor default on this debt. So, I would appreciate if you co-operate in making this payment plan effective.

I request that you accept a monthly payment of $ instead of the regular payment of $ that I have been making every month.

I will begin making regular monthly payments as soon as I recover from this financial crisis.

I hope you will understand my situation and consider my request. I will definitely inform you of any change in my financial situation.

I am looking forward to your kind co-operation.


Your Signature_______________________

Your Name__________________________

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  • The debt settlement program typically lasts between 6 months to 4 years time.
  • At least 30% of the debt amount per creditor needs to be accumulated in the trust account for OVLG to give the creditor any settlement offer.
  • Not all creditors or debt collectors will accept a reduction in the balance, interest rate, or fees a customer owes such creditor or debt collector.
  • Pending completion of the represented debt-relief services, the customer's creditors or debt collectors may pursue collection efforts, including initiation of lawsuits.
  • That the use of the debt-relief service will likely adversely affect the consumer's creditworthiness, may result in consumers being sued by their creditors, and may increase the amount owed to creditors as a result of the accrual of additional fees and interest.
  • Savings a customer realizes from use of a debt-relief service may be taxable income.
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