sending letters to people you owe money to

scw1

Does anyone have a template or can point me in the right direction please

immoral_angeluk

What kind of letter is it you want to send?

scw1

Its for my brother it is, he owes money to the bank for a loan and a couple of store cards (I think burtons and debenhams) and I have seen them before on here but cant remember where!

Just a letter to say he can pay x amount every month to clear the debt and can they stop the interest and when the money is paid off to cancel the account. Or something along those lines!

CLAPTON

there are at least two different scenerios..you need to clarify what his situation is.

token payment : often occurs because of losing job or major change in circumstances where you ask them to accept a nominal payment of £1 for some months until you get a new job ect.

prorata payments : where basically you have over extended youself. here you send them an SOA and a letter explaining that you can only afford xxx per month in payments and that you will prorata the payment over the debts.

He knows presumably that they will default on some/most/all his debts and his credit record will be trashed.

Why not invite him to come on here and post an SOA ..he's going to need one to send to his creditors in any event.

scw1

Thanks for that. Its the prorata payments he is going to do. He knows the consequences but its his choice I cant force him to do anything other than what he wants (unfortunately).

He doesnt have internet access at the moment where he is living but is coming over to mine at the end of next week so he is going to bring all his letters/demands etc and will get him to post on her then and I can forward the replies to him!

CLAPTON

http://www.nationaldebtline.co.uk/england_wales/temp/4049_35771.pdf