Use this letter to inform a creditor that you cannot afford to repay your debt.

You can choose to send a letter in your own name or in joint names. You may have a debt in joint names, or want to write to your creditors together because you have worked out a joint budget.

Sample - I Cannot Afford to Repay my Debt
  • Fill in your contact details, account number and any extra information you want to include in the grey shaded areas.
  • Today’s date will be added automatically.
  • Sign each letter and enclose a copy of your budget if needed.


{{Name of the Organisation}}

{{Their Address}}

{{Their Postcode}}

{{Your Address Line 1}}

{{Your Address Line 2}}

{{Your Postcode}}

Dear Sir/Madam

Account No: {{Your account or reference number*}}

We are writing this letter to inform you that the current economic situation has caused serious financial challenges for our business. We are currently working out long-term solutions to manage our debts and taking professional advice.

Because of this hardship, we would like to request you hold action on this account.

We also request that you withhold any interest on our debt for the next {{_*}} days.

Thank you for your understanding and I hope to hear from you soon.

Yours faithfully

{{Include your full name*}}