Where can you find a sample late payment explanation letter?

Answer

One can find samples of late payment explanation letters at myFico, CreditInfoCenter, FriscoMortgageGuy and many other finance sites. Also referred to as an LOX or LOE (letter of explanation), late payment letters can be sent to creditors explaining why a payment is late. However, they are also used as part of a mortgage application to explain why accounts on the applicant's credit report show a history of late payments.

Whether someone is explaining a late payment to the creditor they are paying late or to another entity like a mortgage broker, these letters should be as detailed as possible. If relevent, they should contain supporting documentation. For instance, if someone's credit card bills were paid late one month because they were in the hospital, proof of the hospital stay should be included with the letter.

If someone is applying for a mortgage, they have to meet criteria set by the underwriter. If they do not meet certain criteria, they can write a letter explaining the extenuating circumstances. These letters can address issues like why the applicant's income was lower than usual during a certain time period, or they can be used to explain why an applicant fell behind on their bills.

Q&A Related to "Where can you find a sample late payment explanation..."
Credit Cards Answer. As an accounts payable manager for a large company, trust me your creditors don't want to hear why you can't pay, but only when you can. Give your creditor a
http://wiki.answers.com/Q/What_should_you_include_...
1. Include your information at the top. On the top left-hand side of the letter, date the letter and write "From" followed by your name and address, phone, account number
http://www.ehow.com/how_8397191_write-apology-lett...
1. Add the Introductory parts of the letter. Include your return address, the address of your creditor, and the date. Begin with "Dear. so-and- so. " Ad. 2. Begin with the
http://www.wikihow.com/Write-a-Late-Payment-Letter
Just the facts, ie. "I was careless and neglected to check the calendar so the payment was made late. don't make up any stoopid excuses, they have heard them all, also don't
http://answers.yahoo.com/question/index?qid=201210...
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