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Letter to Explain Late Payments

Use this sample letter to explain late payments when applying for credit.

How to write a letter explaining your mortgage and/or other late payments when applying for credit.

So you have gotten your credit report in the best shape possible and you are trying to buy a home. BUT, your credit still has some dings. Even though you may qualify, the lender will ALWAYS ask you to explain any late payments on your report. This letter will not help a desperate credit situation, but may make a difference in a marginal one.

The basic premise of this letter is:

This letter is part of our sample letters we have created to help you handle a variety of credit situations. You can also visit our bookstore where you can purchase eBooks on credit repair, debt settlement and 95 sample letters - all available for instant download.

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To Whom it May Concern:

I am writing this letter to explain my late payments on my (mortgage) to (mortgage company) and to (other creditors) in (insert dates).

I am very distressed that this has ever happened to me, but I was <laid off>, <seriously injured>, <going through a death in family> . The circumstances drained my carefully put aside savings and I was forced to miss a payment because of it. My financial advisor told me not to tap into my 401K, and I was able to recover from this crisis and begin making on-time payments.

I have always prided myself in paying on time, and I have taken steps to put away more money in my savings account to guard against other unforeseen occurrences like this.


Your Signature

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