Sample letter

Creditor refuses your offer of payment (sole name)

Use this letter when a creditor has refused your offer of payment and you want them to reconsider.

25 November 2020

Dear Sir/Madam

Account/Reference Number:

Thank you for your letter of concerning the above account.

I am sorry that you feel unable to accept the offer which I have made. The majority of my other creditors have accepted the offers made to them and I have commenced payments. I cannot make you an increased offer as I can only afford £ per month between all my creditors, and it would be wrong to cease or reduce payments to my other creditors in favour of your company.

In the light of the other creditors agreeing to my repayment plan, please would you reconsider my offer of £. I will be making the payments in line with the offer to your company, on a monthly basis, as a gesture of goodwill.

Also, during this period, please can you freeze interest and/or any other charges accruing on the above account to ensure my financial difficulties do not deteriorate further.

I will contact you immediately if my circumstances improve.

I would be grateful if you would send a standing order form to make it easier to pay you.

I look forward to hearing from you as soon as possible.

Yours faithfully