token payment template

poptart1_2

can anyone post on the link that gives a template for token payments to creditors, sorry but have searched and cannot find it.its for a friend in need who is sick and cannot pay and her creditors are hounding her to death.many thanks folks.

fermi

There is an excellent factsheet aimed at people who cannot pay or only make token payments here:

http://www.nationaldebtline.co.uk/england_wales/review_pack.php?page=for_people_who_have_no_available_income_to_pay_creditors

As well as plenty of advice on their rights and what the creditors can/can't realistically do, it also includes 4 different letter templates to send at each stage of negotiating down payments and interest.

fermi

For some reason it doesn't include the first letter to send.... odd.

It is below. You can change it slightly if you want to offer a token payment rather than no payment.

There are lots of other sample letters, factsheets, and budget sheets to fill in here:

http://www.nationaldebtline.co.uk/england_wales/debt_advice.php

High Street,
Newtown,
Kent
R21 4RH
October 20, 2007

The Loan Company

Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re Account No/Reference No:− 4563210025897412

Since making that above agreement with you, our circumstances have changed.

We cannot now afford to agreed monthly payments because ... [your paragraph added here]

We enclose a Personal Budget sheet which shows our total income from all sources, and the total outgoings of our household. As you can see we have no money left to make offers of payment to my creditors.

In view of our circumstances, would you please accept no payment at present to be reviewed in six months. If interest or other charges are being added to the account, we would be grateful if you would freeze these so our debt does not increase.

Should my circumstances improve we will contact you again.

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

Yours faithfully



Mr A N Other