3. The requested change to the contract
I/we request the following change to my/our contract:
A reduction of the amount of each repayment to $x per week/fortnight/month. This change is requested for [number]
months. The term of the loan will be extended and any arrears will be added to the loan (capitalised). AND/OR
Postponing the repayment due on / / so that it is now due on / / . AND/OR
Postponing the repayments due between / / and / / and extending the term of the loan.
In support of my application, I/we provide the following income and expenditure details:
>
Current income is $x per week/fortnight/month
>
Current major expenses are:
>
Car: $x per week/fortnight/month
>
Other loan repayments: $x per week/fortnight/month
I/we assume that you will not continue to charge default fees, default interest or make an adverse credit report listing
while my/our hardship request is being considered.
As can be seen from the above information, I/we will be able to discharge my/our obligations under the above contract
if you agree to the proposed change. I/we ask that you consider this application as a matter of urgency.
I/we await your reply in writing within 21 days of the date of this letter.
Yours sincerely
[Your signature]
[Your name]
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