Can someone make any suggestions on what I should add/remove?? Thank you
To Whom it May Concern,
I am writing this letter to five late mortgage payments (2/10, 9/10, 10/10, 2/11 & 9/11) as well as a settlement agreement for a credit card through xxxx on which I was an authorized user, but not the primary account holder.
In December 2009, my wife was five months pregnant with our son. A routine ultrasound at this point found major anomalies, and we learned our child would be born with a rare genetic disorder. As a result of his prognosis, we had to undergo expensive genetic testing and scans to monitor his condition. My wife then began to experience other pregnancy complications. The medical bills for her unexpected extra prenatal care began rolling in shortly after that. In addition, my wife was placed on bed rest and we lost a significant portion of income while she was unable to work. After he was born in May 2010, we incurred additional expenses related to his care. During this time frame between early 2010 and September 2011, we did fall behind on our mortgage payments after our savings had been depleted. We simply just did not have enough money for all of our bills, day to day expenses and our child's needs.
Once our son was in a more stable condition, we were able to work more hours to get back on track financially, but we realize the devastating effect that having (five) 30 day late payments has had on our credit.
In late 2011, we learned that there is a state funded Medicaid program for severely disabled children that would cover all his expenses in full. This information was never given to us despite having several hospitalizations, surgeries, and telling social workers that the costs of his care were prohibitive. We applied and our son was granted coverage under the "Home Care for Children with Severe Disabilities" program. He is medically qualified to stay in this program as long as his condition exists and it is not income dependent. It is solely based on medical need. Our son's condition also prompted me to begin pursuing my current career as a Physician Assistant, which nearly doubled my yearly income. In the time since these late payments during the worst of our son's illness, we have not had any other late payments. Now that we have full insurance coverage for him and a better career with potential for advancement and growth, we are in a much better place financially and this will not happen again.
With regards to the credit card settlement from xxxx Bank, I was an authorized user on my wife's card. At the time, I was a full time student and not working other than my Kingston Fire Department job which averages about $200-250 per month. We were living off student loans and savings, which is difficult to do with a family of 4 with one on the way. We were making on time payments, but we were finding that money was getting tight. My wife was also not working and caring for our children full time due to our son's needs. It was suggested she settle this account to reduce our monthly expenses while I was still in school. In hindsight, we realize this was not the best choice. In the months I've been working full time, we have put an emphasis on reducing our debt and household expenses. We are beginning the process of rebuilding our savings and we are working diligently to ensure we pay off our remaining debt in full as agreed.
Thank you for your consideration.
Sincerely,
