And you could definitely include any information about financial hardship in the letter that may help convince the JP to reduce the amount.
Worst case is that you do not get a reduction on the fine at all and have to pay the full amount on the ticket. Best case is that you do get a reduction, so does not hurt to try.
On the positive side, a red light camera offence is against the OWNER of the vehicle and not the DRIVER and therefore does not affect your insruance at all.
+++ This is not legal advice, only my opinion +++