Free Hardship Letter for Self-Employed Sample

1. What is a hardship letter for self-employed individuals?

Answer: A hardship letter is a written explanation of financial difficulties and request for assistance. For self-employed individuals, a hardship letter can be used to request financial assistance from lenders, such as a loan modification or forbearance, due to financial hardship caused by factors such as illness, decreased business, or unexpected expenses.

2. What should be included in a hardship letter for self-employed individuals?

Answer: A hardship letter for self-employed individuals should include the following elements:

• Introduction: State the purpose of the letter and current financial situation
• Explanation of hardship: Explain the reasons for financial hardship
• Evidence of hardship: Provide documentation or evidence to support claims
• Request for assistance: Explain what is being asked for and how it will help overcome hardship
• Conclusion: Thank the reader for their time and consideration.

3. How do I write a compelling hardship letter for self-employed individuals?

Answer: To write a compelling hardship letter, consider the following tips:

• Be concise: Keep the letter short and to the point
• Be honest: Provide a clear and honest explanation of the financial difficulties
• Provide evidence: Include relevant documentation to support claims
• Be specific: Clearly explain what assistance is being requested
• Be professional: Write the letter in a professional and respectful tone.

What should I avoid in a hardship letter for self-employed individuals?

Answer: When writing a hardship letter for self-employed individuals, it’s important to avoid the following:

• Being vague: Avoid general statements and be specific about the financial difficulties
• Being negative: Do not use a negative tone or express frustration or anger
• Being unrealistic: Request an amount or type of assistance that is reasonable and feasible
• Lying: Do not provide false information or exaggerate the situation.