Clearing Up Payments: Letter of Explanation for Your Situation

If you've been asked to provide a Letter of Explanation, BizzLibrary.com has got you covered! Our Letter of Explanation Template is designed to help you provide a clear and concise plan of action, payment or any other relevant information to the recipient. Whether you're facing a financial hardship, explaining a gap in employment, or outlining your plans for the future, our template will ensure that your letter is professional and effective.

What is a Letter of Explanation?

A Letter of Explanation is a formal document that provides additional information to support a particular claim or decision. It is often requested by lenders, landlords, or government agencies when they need additional information beyond what is typically included in an application or other documentation.

Why Do You Need a Letter of Explanation?

There are many reasons why you may be asked to provide a Letter of Explanation. For example, you may need to provide an explanation for:

• A gap in employment history
• Irregular income or payment history
• Recent credit inquiries or applications
• A low credit score
• Recent changes in employment, address or marital status
• Account discrepancies or unexplained transactions

Your Letter of Explanation should address the specific issues or concerns that the recipient has raised. It should provide a clear and concise explanation of the situation, outlining your plan for addressing the concern or resolving the issue in the future. The letter should also be professional and use a courteous tone throughout.

Get Your Letter of Explanation Template

Don't struggle to draft a Letter of Explanation from scratch. Our professionally-designed template provides the structure and language you need to create a thorough and effective letter, all in one convenient DOCX format.

Visit BizzLibrary.com now to download our Letter of Explanation template, along with other helpful templates, to ensure that you are prepared for any situation where a Letter of Explanation is needed. We have a wide range of business document templates to choose from and we are regularly updating our catalogue to fit your needs. Get started today!