Credit Hold Letter

FORMAT
bizzlibrary template file type image

CATEGORY

DEPARTMENT
HR

LANGUAGE
English

TYPE & SIZE
.docx (0.02 MB)

When the customer is always late in making payments and has exceeded their credit limit which is identified as a bad risk this is why you need a credit on hold request letter format. Download this template now and use it as a guide in your credit on-hold letter.

How do I write a request to hold credit?

Writing guide on on-hold credit request letter to the bank or lender for a temporary period prevented from losing or using the credit, in order solve the situation:

Include the account number in communication for your customer reference.
Explain to your customer that due to this situation you can no longer extend credit to him.
When the customer is aware of the issue, offer a resolution to the problem.
Explain to the customer that you don't wish to hold his/her credit, this time there will be no recourse.
End the letter positively.

Sample guide for request letter for on-hold credit:
Below is provided a sample letter. You can download it and use it after making changes as per your requirements and criteria. We are not only providing you tips, but also a request letter that you can use after certain edits. Here is a sample letter for your guidance:

Dear Mr., Mrs., Dear {{Name}},
I am writing to tell you that I am getting advice about my current financial difficulties.
Because of this, I would appreciate it if you could hold action on the above account for at least 30 days to give me the time and space I need to do a budget sheet and work out the best way to deal with my debts. Also, if you are adding interest or other charges to the account, I would be grateful if you would freeze these during this period, so that my debt does not get any bigger. I will contact you again in 30 days, and discuss further details of my financial situation and my proposals for dealing with my debts.I look forward to hearing from you as soon as possible.
Please send all correspondence directly to me.
Thank you in anticipation.
Yours faithfully,

Download this credit hold request letter for a hold credit template for free from our website. Make some changes to the document available in Microsoft Word format. If you like this letter, please give us a big thumbs up. Your valuable feedback matters a lot to us. Head towards our website for some useful content.

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