Making an Offer
a basic guide on dealing with Debt
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SENDING A LETTER OFFERING AN AFFORDABLE AMOUNT
Creditors are more likely to accept an amount offered if you include a copy of your SOA to show what can be afforded but do not forget to include all other offers made to other creditors in your SOA or the Creditor may believe you can pay more and refuse your offer.
Ask the creditor if the interest can be frozen but bear in mind that if this is for a bank account it may be closed by the creditor once the debt has been paid.
Keep all corrospondence received and add details to your debt list so you are aware of what has been agreed. You can use the template letter 'make an offer' to send to the creditor
If a creditor / debt agency responds to your letter refusing the amount offered, send a letter in response asking them to reconsider their decision. There is a template letter for this on the 'templates' page and do remember to include a copy of your SOA.
If the amount that you are offering is declined and the creditor refuses to agree an amount you can afford, it would be advisable to start the payments anyway if you having a paying-in book or payment slip as this shows that you are trying to clear your debt.
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You now need to involve professional guidance such as the Citizens Advice Bureau to help with making the Creditor realise that there are no further options for you to pay more. Take copies of corrospondence sent and received as this shows you are making the effort to clear your debt.