How do i word my letter

sassygirl_2

Hi,

I am really sorry if this has already been covered. Im not sure what type of letter you would call it and have tried the search bit to no avail.

I have got myself in a bit of a pickle with debt, ok its been going on a long time, but its finally out in the open with regards my husband (he wasnt aware just how much)

So, we are going to tackle this together as a team.

I have done a financial statement and want to send it to my creditors, but i want to include a letter asking them to freeze the interest on my accounts so that i am paying off the balance and not just the interest.

Can anyone help me on how to word it or if you have a template letter i could use that would be great

Thankyou in advance

saltnvinegar

Hi Sassygirl

First well done on tackling your debt! I know its a hard journey but you will start to feel so much better now you are doing something about it.

This is the letter I started off with all my creditors. Feel free to use it and tweak to suit your circumstances.

Good luck

SnV

Dear Sir/Madam

Account number xxxxxxxxxxxx

Unfortunately, since opening this account with you, my financial circumstances have changed and I am unable to afford to agreed monthly payments because of <enter reasons here if you wish otherwise say something like 'multiple accumulative reasons'>.

I have been in discussions with <Enter name of your DMP company here if you are using one> and with their guidance I enclose a Personal Budget sheet which shows my total income from all sources, and my outgoings. As you can see I have only £xx.xx per month left for my creditors. The offers I have made to my creditors have worked out on a pro−rata basis, and I have written to all my creditors asking them to accept reduced payments.

In view of my circumstances, please would you agree to accept a reduced offer of £xx.xx per month to assist me during this difficult period.

If interest or other charges are being added to the account I would be grateful if you would freeze these so that all payments made will reduce what I owe you and assist me in managing my debt liability responsibly.

Should my circumstances improve I will contact you again.

Thank you for your assistance and I look forward to hearing from you as soon as possible.

Yours faithfully

DIGITALLY SIGN

sassygirl_2

Thankyou so much snv,

I feel like a weight has lifted by just being honest with my husband and knowing that we are going to tackle this together

heres to a future of getting debt free :beer: