Are you struggling to stretch your income across all of your living expenses while paying off your debt? Do you need some time to gather your income to pay back your payday loan providers?

We have a letter template that can allow you to explain to your creditors that you may need some time to gather funds in order to pay off your debts more reliably.

This method has a higher success rate than most because you are agreeing to pay at a slightly higher rate when you have more cash in the bank.

"Paying more? I can't afford to pay more."

If you plan and negotiate with your creditor - you may be able to work out how much time you'll need to get back to a more comfortable financial situation.

Use this letter template to construct a message to your lender that explains your situation and follow up with an offer of an affordable monthly payment.

You will need:

  • Proof of loan.
  • Your account/reference number.
  • Proof of financial struggle.
  • A budget to afford a monthly payment.