Sample Letter to Debt Collection Agency for Debt Management Plan
Once you have completed your Income and Expenditure, you will then want to send that to the Debt Collection Agency (DCA) with a covering letter.
Their Address
Your Address
Date
Company: (who the original debt was with)
Account Number:
Your Reference: (DCA may allocate their own reference)
Balance; (the debt amount)
Offer: (how much your spreadsheet shows you can afford)
Dear Sirs,
Please find enclosed Income & Expenditure.
In view of my current indebtedness to you and from the figures available, I propose a monthly payment of £X.XX, as indicated on the enclosed Income Expenditure.
Would you please be kind enough to supply me with the relevant bank account details, in order that I can make regular monthly payments by standing order to your company/client?
Additionally I would respectfully request the freezing of any interest on the outstanding balance for the duration of the plan in line with section 14 of the British Banking Code.
I would like to thank you in advance for assisting us regarding this matter.
Yours faithfully,
Sample Letter to Debt Collection Agency for Full and Final Settlement
Once you have completed your Income and Expenditure, you will then want to send that to the Debt Collection Agency (DCA) with a covering letter.
Their Address
Your Address
Date
Company: (who the original debt was with)
Account Number:
Your Reference: (DCA may allocate their own reference)
Balance; (the debt amount)
Offer: (how much your spreadsheet shows you can afford)
Dear Sirs,
Please find enclosed Income & Expenditure.
You will see that from the enclosed financial statement, that I have insufficient funds left at the end of each month to pay creditors on a monthly basis.
I do have available through a third party family friend (as shown on the attached income and expenditure) which can be realised immediately to the benefit of all creditors on a pro rata split.
Therefore £XXX.XX is offered immediately as a Full & Final/Short Settlement on the above named account.
Additionally I would respectfully request the freezing of any interest on the outstanding balance for the duration of the plan in line with section 14 of the British Banking Code.
We look forward to a favourable reply in the near future
Yours faithfully,
Complaining to Creditor about Harassment
Should you feel that you are getting to many phone calls from the DCA’s you could send them something similar to this letter. Use the same sort of layout as shown above and you may want to put something along these lines:
I have serious concerns regarding the telephone calls that I have have received from your company.
I am now formally requesting that all correspondences are in writing to myself at the above address.
I hereby demand that these phone calls stop immediately. I am familiar with Section 40 of the Administration of Justice Act 1970 and the Protection from Harassment Act 1970, and also Protection from Harassment Act 1997 and believes that your harassment places you in breach of these acts.
If you continue to call, you will also be in breach of the Wireless Telegraphy Act (1949) and, as such, your company will be reported to both Trading Standards and The Office of Fair Trading.
Take further note that continued telephone calls after the receipt of a request not to call may constitute a criminal offence under Section 127 of the Communications Act 2003.
You will be deemed to have been served notice of my request and we will deem it served four days after the above date, I am advising you that any calls received after this date will be recorded with the intention of them being used as evidence.
I would like to thank you in advance for assisting me regarding this matter.
Yours faithfully,
Responding to a DCA Letter Reviewing Your Situation
If there is no change in your current financial situation, you could reply to the Debt Collection Agency as follows:
Usual headings as in the first two examples.
Thank you for your letter regarding a review of my financial situation.
Please find enclosed a copy of my latest Income and Expenditure.
My financial situation has not changed for the better. Therefore we are requesting that current payment plan remains at £XX.XX
Thank you in advance for assisting me regarding this matter.
Yours Sincerely,
Remember when completing your Income and Expenditure, holidays, birthdays and Christmas should be ZERO, they may just want that.
