Moratorium Letter Template

Date:   ____________________


From:  ___________________________________




To:       ___________________________________




Re: Invoice #____________________


Dear ___________________________

I have received your recent invoice for my unsecured loan payment of _____, and am willing to pay this debt in full.  I will contact you in one month to let you know what I can afford to pay.

I want to let you know that I am working with a Twelve Step program for debtors that is helping me decide a new monthly spending plan.

I need to take a one-month moratorium on all my debt repayments, including this one, to discern what I can realistically promise to repay periodically.

During this one-month period I will keep detailed records of all of my expenses and income, so that I can review these numbers with my Twelve Step group to decide what I can afford to pay.

I want to emphasize that I am taking this one-month moratorium with all of my creditors, not just with this account.

I will contact you by ___/___/20___, after my meeting with my group, to discuss what I can afford to pay on a monthly basis until this debt is paid off.

Thank you in advance for your patience with this matter.   I look forward to speaking with you in one month.