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need sample of letter showing insolvency

I have to appear in court at the end of March because I have been sued by Citicorp for a credit card debt.
Does anyone have a sample of a letter stating that I am insolvent and have more debt than resources so I cannot pay the debt immediately and that I am in a debt reduction program trying to pay off all my credit card debts?
Thanks for any help.

Posts: 617
Credits: 18827.1

Sub: #1 You can't stop a creditor from issuing a summon if the want to.
Thu, 02/09/2006 - 14:46

You can't stop a creditor from issuing a summon if the want to. However, if you are having problems in making the payments, you must be very honest with your creditor explaining the full extent of your financial difficulty. This open expression might soften them and won't pursue any legal actions.

Write a letter to the company explaining all the sources of your income, spending and credit commitment. Give a brief summary about your household situation and the reasons supporting your insolvency to pay the debt (be honest here). Make sure that if you are making a small proposal to start off, it must be very realistic and you will prove your maximum commitment to it. Keep copies of all the letters you send to them.


Sub: #2 Insolvency
Tue, 07/29/2008 - 15:58

What do I write to a creditor when I am in no situation to pay anything and will not be for a while. I am living at a shelter and have no income.

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