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Request for Forbearance Wells Fargo Education Financial Services 301 East 58th Street North Post Office Box 5185 Sioux Falls, South Dakota 57117-5185 (800) 658-3567 A forbearance allows you to temporarily

How to fill out request for forbearance

How to fill out a request for forbearance:

1. Begin by gathering all the necessary documents and information. This may include your personal identification, loan account number, financial statements, and any supporting documents that explain your hardship or reason for requesting forbearance.
2. Contact your loan servicer or lender. Reach out to them either by phone or through their online portal to let them know about your intention to request forbearance. They will provide you with the necessary forms or direct you to where you can find them.
3. Carefully review the forbearance request form. Make sure to read and understand all the instructions before starting to fill out the form. This will ensure that you provide all the required information accurately.
4. Fill out your personal information. Provide your full name, address, contact information, and any other details that are requested in the form. Double-check that all the information is correct and up to date.
5. Indicate the type of forbearance you are requesting. There are different types of forbearance, such as temporary forbearance, partial payment forbearance, or full payment forbearance. Select the appropriate option that aligns with your circumstances.
6. Explain your reason for requesting forbearance. In a separate section or through a written statement, clearly and concisely explain the circumstances that have led to your financial hardship. Be honest and provide any relevant details that will help the loan servicer understand your situation.
7. Include any required supporting documentation. Some lenders may require you to submit additional documents, such as proof of income, medical bills, or unemployment records. Make sure to attach these documents or provide them as instructed.
8. Review and sign the form. Once you have completed all the necessary sections and attached any required documents, carefully review the entire request form for accuracy. Then, sign and date the form as indicated.
9. Submit the request form to your loan servicer or lender. Follow the submission instructions provided by your lender to ensure your request is received in a timely manner. Keep copies of all the submitted documents for your records.

Who needs a request for forbearance?

1. Borrowers who are experiencing financial hardship due to circumstances such as job loss, reduced income, medical emergencies, or natural disasters may need to request forbearance. Forbearance allows them to temporarily pause or reduce their loan payments until their financial situation improves.
2. Students who have taken out student loans and are unable to make their monthly loan payments may also need to submit a request for forbearance. This could be because they are still in school, facing unemployment, or experiencing other financial difficulties.
3. Homeowners who are struggling to make their mortgage payments and are facing the risk of foreclosure may be eligible for mortgage forbearance. This option provides temporary relief by suspending or reducing mortgage payments for a specific period.

Overall, anyone who is facing financial hardship and is unable to make timely loan payments should consider submitting a request for forbearance to explore temporary relief options until they can stabilize their financial situation.

For pdfFiller’s FAQs

What is request for forbearance?

A request for forbearance is a formal application made to a lender or creditor to temporarily suspend or reduce loan payments.

Who is required to file request for forbearance?

Any borrower who is facing financial hardship and is unable to make regular loan payments may be required to file a request for forbearance.

How to fill out request for forbearance?

To fill out a request for forbearance, borrowers typically need to provide their personal and financial information, explain their hardship or financial difficulties, and submit any required supporting documentation.

What is the purpose of request for forbearance?

The purpose of a request for forbearance is to seek temporary relief from making loan payments due to financial hardship, such as unemployment, medical expenses, or other unforeseen circumstances.

What information must be reported on request for forbearance?

The information required on a request for forbearance may vary depending on the lender or creditor, but generally includes personal identification details, loan account information, reasons for requesting forbearance, and any supporting documents.

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