Hey, welcome to episode 125 of credit one on one. In this episode, we’re going to talk about modifying payments. That’s long term payments and short term payment. So if you guys are going through something, maybe, you know, your hours got cut at work, make you lost your job, anything that could be going on, then this is perfect for you. So let’s go over some of the letters that I created for you all. Again, these letters are in a description, also in the comments. It’s going to be 10 letters altogether is more letters than what we need for this episode. But it’s a lot of different situations. So in the last video, we talked about that settlement. We got a few dead settlement letters in there, but now we’re talking about just modifying those payments. So let’s actually go ahead and look at that letter. And if you guys have any questions, please let me know in the comments or go to my website, rakita.com, and schedule call and I’ll be happy to help you guys with any questions that you have. So here is the letters to request short term to lower your payment or also to for that short term and also long term. So let’s go ahead and look at them because it’s a lot of, okay, so the first one is if you want to request short term lower payment. So just say if you wanna just lower your payments short time, then this is for you want to include your name, your address, your email address, your phone number, the date, the creditors name their address with the city, state and zip code. If you have your account number, go ahead and include your account number there and then the name of your creditor. Go ahead and put the name of the creditor here. Whoever it is, put it here.
Now, this is the thing. All of this information will stay the same. I want you guys to read. It is a few spots that you want to change though. Okay, so right here, you want to put the amount of time you want to change it. So change your payments, do you want to change them for three months, six months?
You don’t forget, this is short term. If you wanna do more than six months, to me, you need to do long term because that’s a separate letter. It’s actually the next one. So don’t put it on here. But how long do you wanna change it? Okay, what is the monthly payment amount or what amount do you wanna actually go to? What’s the propose one? And again, the proposed duration. Okay, so put that again here.
Now, keep all of this other information that’s on here the same. You just wanna leave it there. And then I do not suggest you put a signature, but some people still wanna do it. And I just have to make that space right there just to remind you all. And then put, just type your name here. Remember to delete this section right here to you might watch a letter. Okay, now that is for short term. Not for short term. Maybe you just got laid off at work. Maybe you had a pay cut. Maybe you got a new tax assessment. Not you campaign. Maybe you got a divorce. Maybe you. It’s temporarily disabled. Maybe you had a heart attack or stroke, maybe cancer scare or maybe you got cancer. These are some things that you guys have to think about if you have any problems that you wanna send out these letters right away to get some type of agreement.
Okay, and this is the letter for longer, for long term, for lowering the payments. Again, longer term, I’ll spend more than six months. To me, that’s long term. Okay, now this is going to be the amount that you want to actually pay. That’s the proposed amount. For the lower payment, maybe you were paying $100 a month, you just wanna start paying $20 a month for you or $25 a month for the next 12 months. Put the amount of time that you want to put here, but be realistic on what you need. That would just take off and just throw some stuff out there if you know that you have a problem right now, like I said, if you having like health problems, disability, maybe you lost your job or you gotta do tax assessment now you have to pay a lot more money and you know, it’s gonna take you nine months, 12 months. Please let them know how much time you need because they can only tell you no, or they can meet you at, we can do 12 months, but we could do 9 months. You know, just be realistic. Cuz I want you to stay on top of whatever you, what I agreement that you come up with. Again, I really don’t suggest you put a signature here, but you can delete that section or put your signature either where you gotta delete it and then put your name here. This is for long term lower payments.
Now, if you want to stop your payments, then you can use this here. So this is when you want to just stop your payments in general. So you’re gonna let them know, hey, I want to just stop them. I don’t wanna pay anything. So that’s what this will be. Stop payments for a short time for the next three months, I don’t wanna pay anything. I wanna temporarily suspend my payments. That’s what this is here. Okay. And then put the amount of time that you want to do it.
Go ahead and put that information here. Hey, I want to do it for 3 months. Go ahead and put that there again, delete this section and you can put your signature or just leave it blank. And then go ahead and type your first and last name here.
Now, if you want to request to stop payments long time, then this is what you guys will use. This is for a long time. Hey, I wanna do for 12 months. I don’t wanna pay anything for 12 months.
Then this is where you’re going to put it on this long term letter. Okay, guys? And keep in mind, this is for a long term. Be realistic on how long it’s gonna take for you.
Okay, be realistic and remember to go ahead and remove the information at the bottom in terms of the signature section and also at your first and last name. And also if you want to request to stop, I think we already did request to stop long term. Okay, I doubled that up. I shouldn’t double that request for delay payment and miss payments. We’re gonna talk about this one in the next episode. But those letters right there, that can stop payments short term, long term, and also lower the payment amount. That’s what you guys, you’re going to need.
If you’re going through something, like I said, you may have lost your job, you may have got a new tax assessment, maybe you’re having some health problems that would be perfect for you all.
You’re going to have 10 letters altogether for a different situation. So definitely when you download it or when you get it in the description or also in the comments, you gonna have all those other letters. I suggest you download them and just keep them cuz you never know when you’re gonna use them or when it when you’re gonna need them. So maybe you’re gonna need one special letter, but go ahead and keep the other ones and just keep them in a safe space so that, you know, saved on a computer. Sometimes certain documents I like the email into myself cuz to me, I feel like they’ll always be there. So please go ahead and just keep them so that if you ever have something come up, you ready, you prepare, you know exactly what you guys need to do. So let’s go over to episode 1,26. That’s we’re gonna talk about those miss payments. You’re gonna access those miss payments around say, hey, I could be current on my payments, but those miss payments, I don’t know what I’m gonna do with those. Cuz I just cannot pay him. We’re gonna talk about that in the next episode. And I would definitely see you all there. Bye bye.