Advice Please

IKWeb

Hello All

I have had an letter with regards to an old debt, which I intend to pay. I did send a letter to the company to advise them I could not make a full payment of the debt and asked if they would offer a lower amount to settle the account.

They have since refused this and still want the full amount, which I guess is fair enough.

What I would like to ask is does anyone know of a letter template which I can use to offer them a payment of X amount each month till the debt is paid off.

Many thanks for anyone who can help with this.

Regards :beer:

DarkConvict

Firstly are you sure this is your debt -

As to payments
http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/oft664.pdf

Physical/psychological harassment
2.5 Putting pressure on debtors or third parties is considered to be oppressive.
2.6 Examples of unfair practices are as follows:
f. pressurising debtors to pay in full, in unreasonably large instalments,
or to increase payments when they are unable to do so

Deceptive and/or unfair methods
2.7 Dealings with debtors are not to be deceitful and/or unfair.
2.8 Examples of unfair practices are as follows:
g. failing to refer on to the creditor reasonable offers to pay by instalments

These are guidelines that they 'should' follow. And many people do pay in installments.

Do an SOA
This one - http://www.nationaldebtline.co.uk/england_wales/budget_sheet.php?country=england_wales&time=monthly
Or this one - http://www.makesenseofcards.com/soacalc.html

Lots of template letters you can use - http://www.nationaldebtline.co.uk/england_wales/debt_advice.php#6

IKWeb

Hi DarkConvict

Yeah the debts mine, it was an overdraft I once had, although most of the debt is of the bank charges due to me not paying it in the 1st place... Doh..

So due to this, its all my fault so need to get it paid... Just cant afford to do it in one lump sum.

Thanks tho for your feedback.

Ames

How old is old?

DarkConvict

Ames wrote: »

How old is old?

As old as old is.

Ames is wondering how old is the debt, when was it taken out, when did you last make a payment or written acknowledgement of the debt.

IKWeb

Debit is over 4 - 5 years, and I made an offer to pay a lump sum over 3 weeks ago which was refused.