April 16, 2000

Mr. Arnold Jones
Credit Manager
ABC Collection Agency

Dear Mr. Jones:

I am writing to inform you that I am presently going through some financial difficulties and fear that I will not be able to meet my monthly payments to you. Three years ago when I bought my dream home, my family were happy to be living in Ontario, and everything was going well.

My wife is suffering illness which I was burden with medical bills not covered by my insurance and we are spending an addition $2,000 per month on prescription that we did not anticipate. With additional unexpected expenses, I am simply looking for a means to work this out and keep my home.

At present, we can afford to keep our home and make the payments but with an additional $470 per month once the payment adjusts, we will be unable to meet all of our monthly payments.

Any suggestion will be appreciated to work out a payment plan that is mutually beneficial to all of us. I hope for your kind consideration.

Very truly yours,

Juan de Guzman