Clarification on your CTOS findings (Sample Letter)

Loan Applicant:

To Whom It May Concern
The Credit Control Department
Correspondence Address of the end-financier

Date of this letter:

Reference: Clarification on your CTOS findings

As a responsible citizen and loan applicant, I / We felt compelled to write in with additional information pertaining to my CTOS Report for your understanding in consideration of my home loan application made with your company.

As with many other consumers with various predicaments, 1,001 things may & did actually go wrong when least expected in a simple process of getting a housing loan upon buying a dream house due to my / our ignorance on the subject as far back as 5 to 10-years ago.

I / We have been informed that my / our application for home loan has been rejected / declined; one of the reason being your CTOS finding and I / we would like to clarify and assure you herein that both my spouse & my self have our own properties and have been good paymaster all these while without letup.

As prudence and care have been duly exercised on my / our part, I /we surely do not expect that we can turned up to be one of those unfortunate collaterals of the banks’ M & A, merger & acquisitions and I / we believe I /we are not the only one to be in such a situation, one that is least expected to have derailed our loan application made.

As consumers, these are rather ‘technical & complex’, beyond the grasp of many.

I was / we were informed that the bank has taken the legal course against us for our non-payment very much later due to reasons best known to that particular bank itself and it was promptly paid off immediately. Even the release letter is attached herein for your reference.

The incident does not imply me / us as having the tendency to default on repayment nor does it implies poor repayment conduct. It was one of those unfortunate collaterals of the banks’ M & A, merger & acquisitions and I / we believe I /we are not the only one to be in such a situation.

Again, as a responsible citizen and loan applicant, I /we have since then ‘regularized’ our payments and no more outstanding from this point onwards. An auto-debit has been in place too to assure you of our sincerity. In fact, it is through this experience that we learned a new jargon, i.e. payments ‘regularized’

Your years of rich understanding in dealing with similar situations, together with your generous consideration and highest degree of attention to my / our appeal herein may be of much help herein and is much appreciated indeed. I / We hereby look forward to receiving your prompt, positive feedback at your very earliest.



Yours truthfully,




………………………………………………………

[ the undersigned ]
Contact: