creditor letter

struggles_2 · 30 January 2012 at 12:34PM

hi all, this is my first post so appologies if its not in right place, or if this question gets asked all the time, this site is huge and ive tried to do a search but cant see if what im looking for exists? i am going through all my catalogues and they have all been passed on to NDR, after numerous calls before christmas, i really am struggling to keep up with the payments, and the insterest is cancelling out any payments i do make, is there a letter i could send them asking them to freeze interest, while i try and catch up, as i have so much arrears i would like to basically start afresh with my payments so i dont have any backpay and keep getting charged £12 (sometimes more), things are really tight after xmas and i wont go into my sob story as ive bet they have heard them all, just dont know which way to turn right now and i cant sleep for worry

thanks so much in advance

Tixy · 30 January 2012 at 12:51PM

There are templates that state your circumstances have changed and you cannot afford the minimum payment and that you can only afford x per month, that also go on to ask if they will freeze interest & charges.

Usually its when you enter a repayment plan that they will agree to freeze interest.

That doesn't sound to be quite what you want but maybe you can pull something using that as a base? -

Also there are lots of templates on national debtline website which might be worth looking at.

Before you send any letter to them - have you worked out a detailed budget to check that you can afford you repayments each month after all other costs etc?

struggles_2 · 30 January 2012 at 1:06PM

many thanks for your quick reply, yes thats what i want, just not good with the right words to use in the letter, i am in a repayment plan, but what with christmas, i kind of fell behind a few months, and the admin/default charges wont stop until i get up to date

yes ill be doing a new income and expenditure with the letter, im just worried that more fees will be added whilst they look into it, is the letter you are talking about on this site or the other site you mentioned? and would you have a link to the one on this site, i just dont know what to look for, im sorry to be a pest

Tixy · 30 January 2012 at 1:18PM

There is this which is a similar letter - http://forums.moneysavingexpert.com/showpost.php?p=21654579&postcount=50 although its originally from national debtline - their list of templates can be found here - http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

struggles_2 · 30 January 2012 at 1:21PM

thanks so much tixy, i really appreciate your help

creditor letter

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