No money to pay creditors - joint letter by Citizens Advice
This template is a joint letter from individuals to a bank, informing them of an inability to maintain monthly debt payments due to financial hardship. It requests a hold on further action, a freeze on interest, and other charges, while promising to update the bank when circumstances improve. The letter also states that a financial statement is enclosed.
No money to pay creditors - joint letter
Sam Hoolin and Alex Liu
8 Park Avenue
Arlton AL1 4CA
[email protected]
01234 567890
Giltham City Bank
24 Station Road
Giltham GT16 3LP
12 September 2025
Your reference: AN1/Reminder/674
To whom it may concern,
Account name: Sam K Hoolin and Alex P Liu
Account number: 12345678
We are sorry that we are unable to keep up our monthly payments to your company.
I'm sick and unable to work. I've claimed benefits and I'm waiting to hear the outcome of my claim. My situation is unlikely to improve for at least 3 months.
We enclose a copy of our financial statement. This shows income and expenses for the household. You will see from this information that we are unable to make any offer of payment at the moment.
We are making every effort to increase our income and will contact you again as soon as our financial circumstances improve.
In the meantime, it would be helpful if you could hold action on our account and agree to freeze interest and other charges to stop our debt increasing. If you are unable to agree to this, please explain your reasons.
Thank you for your help and we look forward to hearing from you.
Yours faithfully,
Sam Hoolin and Alex Liu
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