kleep

Letter to lender regarding bankruptcy

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I've searched this board, but couldn't find what I was looking for...

I have a discharged chapter 7 bankruptcy from 2002. I have been asked to write a letter explaining that to a lender. I was hoping someone has some advice as to what this letter should entail. I mean, should it be brief - 'this is what happened' or should I really get into the details? Do they just want something to put in the file or do they need a reason to trust me kind of thing?

Any help is appreciated.

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Just make it simple. And make sure it points out that this was a one-time event and its long past. I wouldn't include anything like, "As I have always struggled with money..." Lol.

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Heres one that I typed up for a borrower and had her sign:

To Whom It May Concern:

The purpose of this letter is to explain why I had originally filed for Ch. 13 bankruptcy in 2005.

I went back to school full time in 2005 to be a nurse. I wanted to create a better life for myself as well as my daughter by furthering my career.

Since I was in school full-time, I was not able to work as much, if at all and soon found myself behind on my monthly obligations, including my mortgage. I spoke with an attorney and he advised that it would be best to file for Bankruptcy at that time. So I started the proceedings and the chapter 13 bankruptcy was discharged in June of 2007.

Needless to say it was a learning experience and I have managed to maintain my finances with the exception of a small medical collection that I am currently trying to get resolved and another small collection for T-mobile that again, I am trying to get resolved.

I have created a better life for myself and my daughter and look forward to what the future holds for us.

Thank you,

Mrs. Borrower

Just give a brief explanation as to what happened, thats all they are looking for most of the time. :)

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