Holding letter - ask creditors to hold off by Citizens Advice
Updated 3 November 2025
The Citizens Advice holding letter that asks creditors to hold off helps individuals inform creditors of financial difficulties and ask for a temporary freeze on interest and charges. It is part of Citizens Advice’s widely trusted library of open, lawyer-vetted letter templates.
Holding letter - ask creditors to hold off
[debtor name]
[debtor address line 1]
[debtor address line 2]
[debtor phone]
[debtor email]
[creditor name]
[creditor address line 1]
[creditor address line 2]
[letter date]
Your reference: [creditor reference]
To whom it may concern,
Account name: [account name]
Account number: [account number]
I am sorry that I am unable to keep up my monthly payments to your company. This is because:
I am sick and unable to work. I have claimed benefits and am waiting to hear the outcome of my claim. My situation is unlikely to improve for at least 3 months.
I am writing to all my creditors asking for details of the balance outstanding on my accounts. Once I have this information I will be able to work out how much I can afford to pay to each creditor. As it may take a little time for all my creditors to reply, it would be helpful if you could hold action on my account for [insert period] and agree to freeze interest and other charges to stop my debt increasing. If you are unable to agree to this, please explain your reasons.
Thank you for your help and I look forward to hearing from you.
Yours faithfully,
[debtor name]
About this template
What is this template?
Holding letter - ask creditors to hold off by Citizens Advice is a free, ready-to-use Debt Finance template you can open, customize, and download on GitLaw. It gives you a professionally structured starting point, so you never have to draft from a blank page. The wording is plain and modern, organized into clear sections that are easy to read, edit, and adapt to your own situation before you share or sign it.
When should you use it?
Reach for this Debt Finance template whenever you need a reliable agreement quickly and want to be sure the essentials are covered. It suits individuals, freelancers, startups, and established businesses alike. Instead of paying for a document drafted from scratch, you can start here, tailor the details to your arrangement, and have a polished draft ready in minutes. This version is drafted with England & Wales in mind, though you should always review the final wording against the laws that apply to you.
What's typically included?
A well-drafted Debt Finance usually sets out the parties involved, the scope of the agreement, and each side's rights and responsibilities. Expect sections covering key terms and definitions, how long the agreement lasts, how it can be ended, and what happens if something goes wrong. This template brings those building blocks together in a sensible order, so you can focus on the specifics rather than worrying about what to include. Open it to read the full document, then sign up to edit, negotiate, and e-sign it directly in GitLaw.