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Letter 2 - Offer of token payments and request to freeze interest Template letter

Offer of a token payment and request to freeze interest

This letter template is to be used by a debtor who cannot pay their contractual monthly payments to their creditors, but wants to pay a low one off or monthly payment to show goodwill to the creditors and request that interest and charges be frozen.

Suitable for:
  • Someone who does not have available steady income who wishes to make a payment to avoid further interest.
Benefits:
  • Shows goodwill to the creditor.
  • Interest may be also be frozen by the creditor to ensure you do not end up further in debt.
Disadvantages
  • If a payment is made that leaves the person is more financial difficulty by over extending themselves.
  • Only a temporary solution and will not improve situation in the long term.

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