In the current financial times, it is quite a normal issue to face financial trouble. Many people are unable to pay their debts on time. Similarly, people are finding it hard to pay their monthly credit card bills.
If you are one of such person, it is in your best interest to write a letter to the financial institution that is offering you the credit services and discuss with them the possibility of a lower monthly payment plan and a lower APR. Also talk to them about not reporting late payments to credit bureau if you are having issues with making the payment on time.
In the first paragraph, explain your current situation and the reason why you are unable to settle your monthly installment in full or even in part. Clearly state the reasons. Make sure you use kind language.
In the next paragraph, make a request for a concession in your case and ask them to provide you with a specific amount of time where you will either pay the bill in parts, less than the minimum required payment or will not be able to pay anything what so ever. Do mention the amount of time you have had a relationship with the given financial institution and remind them of your previous timely payments.
In the third paragraph, make a humble request that you be provided time and also show your appreciation for the company for the service that it has been providing to you. Close the letter with a hope that your case will be considered with benevolence.