Another important document I use is my Offer of Repayment Letter. This letter is called into action whenever I make an offer to repay my debts to a creditor.
You can download a copy of this letter at the end of this post.
This document forms part of my self managed Debt Management Plan processes.
The Example Letter
Debt Recovery Company
123 Debt Road
4th June 2016
Person in Debt
123 Debt Lane
Dear Sir or Madam,
I write with regards to the account reference above and to make an offer of repayment towards this outstanding account.
This repayment has been calculated on a pro rata basis. The Payment I am able to offer is £11.50 per month. The first payment would be made on the 4th August 2016 and subsequently on the 4th of each month.
I have enclosed a copy of my Current Income and Expenditure which shows my financial position along with a list of my other debts.
Please also provide me with the following information:
A Complete Statement of all payments you have received to this account.
- An up to date Balance.
- Please confirm the details required in order for me to setup a standing order.
- Please confirm your acceptance of the above offer by return letter.
I trust my proposal will be given careful consideration.
Person in Debt
How it Works
- Change the details in bold on the example letter to your own.
- Make your Offer.
- Wait for a response.
- If your offer is accepted make your payments.
A creditor may not accept your offer of repayment. All you can do in that case is to make the payment anyway and hope they change their mind. You could also write to them to reaffirm your position.
You would normally send off an Income and Expenditure Form along with this offer of repayment letter.
If you are trying to deal with debt on your own then you might be pleased to know help is out there for you. Head on over to the Debt Help post and speak to one of the organisations listed there.
There’s no point in struggling through on your own when you can get help.
Download the Letter
Please visit the Downloads page to get a copy of the letter.
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