SAMPLE LETTER TO YOUR CREDITORS
Your address: Date: Creditor’s Name & Address
Dear Sirs Re: Account Number Unfortunately I am no longer able to make the payments that are due on my account, and I am unable to clear the arrears I owe, because…explain here why e.g. your family circumstances have changed or if your income has reduced and why. I have worked out a financial statement and this is enclosed. As you will see, I have set out my household income and payments for essential expenses in detail. I have worked out that I can afford a total of £….. per month on all my other debts and on a pro rata basis I am able to offer your company £ per month. I am now writing to all my creditors to request that they accept the payment shown. I hope you will agree to accept reduced payments and if interest or other charges are being added to the account I should be grateful if you would stop these so that I can make progress in repaying my debt. I would like to make future payments by…..put in here, standing order, or payment book. If my circumstances improve in the future I will let you know, and I will either resume my normal payments or send you a further financial statement with my proposals for future payments. If you need any further information in order to consider this request please let me know. Yours faithfully Sign your name then print you name in capitals underneath