Sample Creditor letters
Below are some sample letters you may find useful
when contacting creditors. If you are requesting
a reduction in monthly payments, we would advise
that you complete a statement
of means and schedule
of creditors to include with your correspondence.
Click on a link below to choose a relevant letter.
- Reduce
Monthly payments and freeze interest.
Use this letter to request a reduction of monthly
payments and the freezing of interest on the
balance. If you give full honest reasons for
your predicament, this letter should persuade
the creditor to be lenient.
- Reconsider
payment offer.
If your creditor has refused an initial offer,
use this letter to request that they reconsider.
If you have not already done so, include a statement
of means and schedule
of creditors to add weight to your case.
- Reconsideration
freezing interest.
If your creditor has accepted your payment offer
but refused to freeze the interest on the balance,
use this letter. You may find that your creditor
will refuse to freeze interest until you have
met your revised payment for a couple of months,
in most cases the interest for this period will
be deducted from the balance.
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| Our debt expert, Wally Stone has over 20 years experience
in dealing with personal debt. |
| County
Court Judgments |
If you fail to pay a creditor and
don’t reply to their reminders there are several
things that they can do.
If it is a secured debt for example, a hire purchase
agreement they can repossess the goods without going
to court if you have paid less than one third of the
total sum. You will still have to pay the majority of
the balance.[More..] |
| Bailiff
harassment |
Harassment of people in debt by creditors
or their agents is a criminal offence under the Administration
of Justice Act 1970.
It is often difficult to know what to do when you feel
a creditor is not dealing with your account fairly. In
order for you to identify what activities by your creditors
may involve harassment and what can be done about the
problem, this article outlines: [More..]
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| Credit
Cards |
| For a great many of us the money runs
out before the month does and then the temptation to use
our credit cards to pay the bills kicks in. This is the
beginning of the debt spiral and just what the credit
card companies are counting on:. [More..]
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According to a recent statement from the Citizens Advice
Bureau, it could take 77 years on average for people asking
for help with debt to get back into the black.
Britain's personal debt is increasing by £1 million
every four minutes. |
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