Bankruptcy Explanation Letter. Writing a good bankruptcy explanation letter, and providing supporting documentation, will make it easier for the lender to approve your application. 2 explanation of bankruptcy letter to cousin template. Whoever ends up reading the letter does not. Depending how long ago and the situation, it may not be a factor in a lending decision. You can even use the letter to explain circumstances such as bankruptcies or late payments. A letter of explanation is a short document you would send to a recipient such as a lender. In response to your letter regarding the reasons for my bankruptcy from which i was discharged 18 i have also included supporting documents of evidence to back up the explanation contained within. Abigail mathew, i am writing this letter to explain to you the reason for having filed a. A bankruptcy explanation letter is a letter that lenders or creditors require in order to issue credit. In fact, it is preferable to keep things precise and to the point. Some people write a bankruptcy explanation letter to apologize to the creditors who lost money because the consumer declared bankruptcy. Even people who file bankruptcy need credit. The purpose of a letter of explanation of a bankruptcy is to explain to a potential lender the extenuating circumstances for an unfavorable credit history. A bankruptcy explanation letter does not have to be particularly long or detailed. Discharging your debts | explanation of bankruptcy discharge.
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