ask creditor to write of debt

andrewman

Can somebody tell me, if there is a way for me to ask a creditor, to write of a debt. I have numerous debts totaling over £20,000, the biggest being, abbey loan, Halifax C/C, Beneficial loan, I have a debt around £400 max on a littlewoods/Barclaycard . What I would like to know is,could i write to Littlewoods or Cabot who are dealing with debt, and ask for it to be written off. if so is there a template letter to help and what are the chances of it happening. I am on verge of bankruptcy and will be filing for it, when I receive funds applied for. If this post is in wrong place, could some nice person move it to the correct board. Thankyou for your advice in advance.

cat4772

Hi Andrewman

Didn't want to 'read and run' but I don't know the answer to this - you could try contacting one of the free to use charities (CAB, CCCS or National Debtline) for advice, but hopefully someone more knowledgeable than I will be along shortly.

Good luck with your debt free journey.

Cat.x

CLAPTON

without full knowledge of your circumstances .............
its extremely unlikely that any creditor will write off debts unless there were very special reasons.
if you are going bankrupt why does it matter anyway ... assuming the debts aren't secured then they will be written off in bankruptcy.

MrsTinks

Debts don't get written off. Sorry but it's an urban myth that they do. They might become unenforcable through time or the company chooses to not pursue it (and these are the magic words) FOR NOW...
The only way to clean the slate is to file for bankrupcy and that should always be a last resort...

Have you thought of contacting CCCS (see link in my sig) to ask their advice on the best way forward for you?

immoral_angeluk

Sometimes in very very special circumstances someone can ask to have a debt written off. However you would have to prove that you have very extreme circumstances for them to even consider it, which in most people's cases doesn't apply. If you are looking into filing for bankruptcy anyway they will be written off with that as long as they are not secured.

fermi

Link: Sample letters | Ask your creditors to write off the debt due to your circumstances

As already said, your situation would have to be such that you would never be able to pay off the debts. Even then a lot of creditors won't contemplate it.

If bankruptcy seems inevitable, then there is little point anyway.

Definitely contact CCCS or National Debtline though to talk options through.

andrewman

Thankyou to all for the advice much appreciated.

I have discussed my situation with citizens advice and the only way out is bankruptcy, there is no other way out of this, my debts would eat up any money coming in if i was working. Funds to help with my filing for bankrupcy was applied for by citizens advice and i now have to wait for a decision to be made. All the help is appreciated.:beer:

fermi

Make sure you have a look at the bankruptcy forum here on MSE then.

Here: Bankruptcy & Living With It

Good luck.

THE_LONE_RANGER_4

just to make a point , it depends at what you mean by written off ? when i was in debt i manged to get reductions and i managed to get some written off one was a debt of £800 to barclay card as all are aware when you are registered for a cj or default it s on your file for 6 years then if dissapears,it is uneforcable so to say it has not been written off is not exactly true if it cant be enforced by the court and you will not pay it then it no longer exists in your eyes.
if it has been sold on then just do not pay it, lets face it the company who bought an old debt got it for peanuts if they get a 100 out of you, there in profit just do not play ball with them .
since ive been out of debt and now run two businesses i have had a few unpaid debts its to expensive to take them to court especially when they offer a few quid a month so in effect i right the debt off unlike large companies i do not have a mass of unpaid debts to sell so they are written off what would i get for 5 unpaid debts of 700quid probably 30 quid why fill the dca pockets.

THE_LONE_RANGER_4

also i would never go bankrupt for less than 70k especially if they were unsecured and i was a tennant do your home work before going bust .