How do I write a letter to a credit card company to freeze interest?

Written by Payplan Ryan on 31 January 2013

Ask Payplan…How do I write a letter to a credit card company to freeze interest?

Having interest and charges frozen on your credit cards can make a huge difference to the length of your repayment period. For many people a solution like an Individual Voluntary Arrangement or a Debt Management Plan will provide a solution to their financial problems. However for an increasing number of people, who have very little disposable income, such plans are unsustainable.

If you find yourself in a situation where your income no longer covers all of your usual outgoings and creditor repayments, you can negotiate with your credit card company and ask them to freeze interest charges. In order to do this you will need to write a letter to each of your credit card providers. The letter should contain the following:

  • Your full name, address and account numbers so they can correctly identify you.
  • A brief outline of your current situation – for example, if you have been made redundant, say so!
  • A repayment offer backed up with a copy of your financial statement to illustrate the amount you can reasonably afford.

If you contact Payplan and your assessment shows that you cannot do either a DMP or an IVA we will send you a Self Help Pack. This contains all you need to set up your own arrangement with creditors until your circumstances improve. A Self Help Pack provides a template letter that you can reproduce and send to your credit cards providers requesting they freeze interest, a budget planner, ways to increase your income, ways to cut down your expenditure and a guide to preparing your own financial statement.



Please note – while we do try to negotiate with your creditors for them to freeze all interest and charges, we cannot guarantee that we will be successful. Nor can we guarantee that your creditors will freeze interest and charges should you attempt this on your own.


Filed under Living in Debt

This article was checked and deemed to be correct as at the above publication date, but please be aware that some things may have changed between then and now. So please don't rely on any of this information as a statement of fact, especially if the article was published some time ago.

79 thoughts on “How do I write a letter to a credit card company to freeze interest?”

  • Samuel

    October 1, 2013 at 2:59 pm

    Hi Annette,

    Thank you for inquiry.
    I have removed your contact details from your comment for security purposes.

    I would ask that you contact our FREE helpline number ( 0800 716239) or visit our debt help page (http://www.payplan.com/debt-help/) for more information.

    Thank you,

    Samuel

    Reply Report comment

    • Julie ann

      January 3, 2018 at 12:14 am

      Can you send me a self help pack please

      Reply Report comment

      • Jane Clack

        January 5, 2018 at 8:12 am

        I have sent one to the address you have supplied.

        Reply Report comment

  • Kinga

    October 16, 2014 at 6:07 pm

    Could you please send me a self pack so I can ask HSBC to freez my credit card and loan as I am unemployed now.
    Thank you

    Reply Report comment

    • Rich Wells

      October 17, 2014 at 2:57 pm

      Hello Kinga,

      Please contact our helpline number on 0800 280 2816 (Mobile calls may be cheaper on 0207 760 8980) or fill in our online form: http://www.payplan.com/debt-help and we will call you back.

      Thanks

      Reply Report comment

  • cybelle

    November 30, 2015 at 10:31 am

    pls i would like you 2 get in contact with me in regards if i could put a freez on all my cedit cards if some one can call me on xxxxx

    Reply Report comment

    • Jane Clack

      December 1, 2015 at 8:29 am

      Unfortunately your telephone number has come up as restricted and it is not a usual telephone number for the UK. I am sorry we are not able to help this way but you can write to the creditors at the address on the statements explaining why you are unable to make the full payments, providing a copy of your income and expenditure and asking them to freeze interest and charges for a period to let you get back on your feet. The creditor is not obliged to do this but may as a gesture of goodwill.

      If you need more advice then contact Payplan on 0800 2802816 where a trained adviser will be able to give you tailored advice. I have removed the telephone number you supplied for obvious reasons

      Reply Report comment

  • Melissa bouaddaoui

    June 15, 2017 at 11:13 am

    Hello , I’m melissa
    Please I would like to freeze my interest.
    Could you send me please send me I self pack?

    Reply Report comment

    • Jane Clack

      June 15, 2017 at 5:41 pm

      I have emailed you a copy of our informal arrangements guide which shows you how to write to creditors. They do not have to freeze interest but you can show them that you are not in a position to repay the debt at the contractual rate and as you cannot do this if they do not freeze interest it will never be repaid. This is going to affect your credit rating.

      Reply Report comment

  • Melissa bouaddaoui

    June 15, 2017 at 11:15 am

    Hello , please I would like to freeze my interest i do t know what I have to do . Thanks

    Reply Report comment

    • Jane Clack

      June 15, 2017 at 5:42 pm

      I have emailed you a copy of our informal arrangements guide to help you do this – if you have more than one debt you may find it useful to give Payplan a ring where a trained adviser will be able to advise more fully and the service is free, confidential and there is no obligation.

      Reply Report comment

  • Glen

    June 20, 2017 at 4:14 pm

    Could you please send me a self pack so I can ask HSBC to freeze my credit card Interest as i am on ESA an have limited Funds.
    Thank you

    Reply Report comment

    • Jane Clack

      June 20, 2017 at 6:40 pm

      I have sent you an email with the booklet attached.

      It explains how to contact creditors. Please remember you can ask them to freeze interest and charges and they should treat you fairly but it is up to them if they do. If you are banking with HSBC we would also suggest you open a new basic bank account so the bank does not exercise its right to offset. This means they can take money from an account you have with them to pay another account with them that you owe money too.

      I hope this is of help.

      Reply Report comment

  • Daria

    July 31, 2017 at 7:59 am

    Hello
    Could you please send me a self pack so I can ask HSBC to freeze my credit card Interest

    Thank you for your help

    Reply Report comment

  • Mark Daniels

    August 21, 2017 at 12:14 pm

    Please can I have a self help pack? Thanks

    Reply Report comment

    • Jane Clack

      August 21, 2017 at 12:57 pm

      One has been sent to the email address you have supplied.

      Reply Report comment

  • Mary

    September 10, 2017 at 6:51 am

    Hi,can you please send me self information pack /informal arrangement leaflets,as I would like to ask to freeze interest in loans and credit cards as im put of eork at the moment
    Many thanks

    Reply Report comment

  • Ryan

    September 26, 2017 at 9:40 pm

    Please can I have a self help pack? Thanks

    Reply Report comment

    • Jane Clack

      September 29, 2017 at 9:23 am

      I have emailed one today to the address you have supplied.

      Reply Report comment

  • Carl

    October 3, 2017 at 7:35 pm

    Hi can you please send me a self help pack as I want to try and freeze interest on my credit cards, as I am now out of work many thanks

    Reply Report comment

    • Jane Clack

      October 4, 2017 at 10:50 am

      I have sent the repayments arrangement guide you have requested to the email address you supplied.

      Reply Report comment

  • David Bloom

    October 13, 2017 at 9:51 am

    Hello
    Please could you send me a self help pack to try and freeze my charges on my credit card with Vanquished please I have recently started getting ESA with not very much funds

    Thankyou

    Reply Report comment

    • Jane Clack

      October 13, 2017 at 3:19 pm

      I have emailed you one at the address you have supplied.

      Reply Report comment

  • Abbie Hirst

    November 10, 2017 at 9:39 am

    Hello,
    Can I have a self help pack please?
    Many thanks

    Reply Report comment

    • Jane Clack

      November 10, 2017 at 9:46 am

      I have sent one to the email address you have supplied.

      Reply Report comment

  • FERNANDA LOPES

    November 15, 2017 at 6:38 pm

    Good afternoon,

    could you send me a sample letter or info in regards to this article. thanks

    Reply Report comment

    • Jane Clack

      November 16, 2017 at 4:06 pm

      Have sent you some information by email

      Reply Report comment

  • D Brnft

    November 15, 2017 at 8:57 pm

    Please can you email me a help pack.
    Many thanks

    Reply Report comment

  • Jerry Mitchell

    December 6, 2017 at 7:32 pm

    Hi could you please send me a self pack would like to try and freeze my credit card interest thanks

    Reply Report comment

    • Jane Clack

      December 8, 2017 at 12:20 pm

      I have sent one to the email address you have supplied.

      Reply Report comment

  • Nia Thomas

    December 13, 2017 at 11:35 pm

    Please could you send me a self help pack. Thank you

    Reply Report comment

    • Jane Clack

      December 14, 2017 at 9:14 am

      I have sent one to the email address you have supplied.

      Reply Report comment

  • aiste

    December 19, 2017 at 4:27 pm

    hello, can i have the self pack as well, please? many thanks

    Reply Report comment

    • Jane Clack

      December 20, 2017 at 12:37 pm

      I have sent one to the address you supplied.

      Reply Report comment

  • klaud

    January 22, 2018 at 2:02 pm

    Hello,

    I would like to freeze my overdraft fees and charges at Lloyds Bank as I’ve been struggling to repay any amount because of the radical change in overdraft fees since November. Can you send me the self help pack?

    Kind regards

    Reply Report comment

    • Jane Clack

      January 22, 2018 at 2:09 pm

      I have sent a copy of our repayment guide to the email address you supplied. If you have more than the overdraft you are struggling to pay you might find it useful to get in touch with Payplan who will be able to offer free, confidential and no obligation debt advice.

      Reply Report comment

  • Osa

    February 5, 2018 at 6:47 am

    Could I have a self help pack please? I have overdrafts with Santander and also Barclaycard credit card.

    Reply Report comment

    • Jane Clack

      February 5, 2018 at 9:32 am

      I shall send one to the email address you have supplied. If you want to be in control of your money you should think about opening a bank account somewhere you have no debt as an overdraft is repayable on demand. If you want to give Payplan a ring a trained adviser will be able to help.

      Reply Report comment

  • Michaela

    February 24, 2018 at 11:22 am

    Please can you send me a self-help pack?

    Reply Report comment

    • Jane Clack

      February 24, 2018 at 3:57 pm

      Hello – I have emailed this to the address you supplied. I hope you find it of use.

      Reply Report comment

  • Szilvia Mate

    March 20, 2018 at 11:23 am

    hello,

    I wish to negotiate with my credit card companies as suddenly I lost my mum and the whole funeral expenses landed on me. I work, but I won’t be able to pay parallel both together (had to borrow from someone to pay funeral and I need to pay it back before September -so this is priority now) I am wandering if the bank can give me a repayment break at least forth next 6 months.
    I am not sure you re able to advise on this case, but I would appreciate it.
    Thanks.

    Reply Report comment

    • Jane Clack

      March 20, 2018 at 3:33 pm

      You need to write to them and explain the circumstances of the unexpected bill that has come your way and that you would like to make reduced/token payments until this bill has been paid. Creditors are supposed to treat you fairly so if you explain the circumstances and that you will be able to resume full payments in Sptember, they should be willing to help. I am sending our repayment arrangement guide to the email address you have supplied.

      Reply Report comment

  • Leanne

    April 23, 2018 at 5:58 pm

    Please can you send me a self help pack.

    Reply Report comment

    • Jane Clack

      April 25, 2018 at 11:55 am

      I have sent this and a useful Moneywise booklet to the email address you have supplied.

      Reply Report comment

  • Liz

    May 8, 2018 at 12:26 pm

    Could you send me a self help pack please?

    Reply Report comment

    • Jane Clack

      May 8, 2018 at 12:37 pm

      Hello – I have sent this to the email address you supplied. If you have multiple creditors you could contact Payplan on the number at the top of the page where you can receive more free advice.

      Reply Report comment

  • Amani

    June 8, 2018 at 9:44 pm

    Hi can you please send me a self help pack as I want to try and freeze interest on my credit cards.

    Thanks

    Reply Report comment

    • Jane Clack

      July 4, 2018 at 5:53 pm

      I have done so – sorry I have only just seen this notification.

      Reply Report comment

  • Mark

    July 20, 2018 at 2:53 pm

    Hi, can you send me details of how to freeze interest payments on credit cards?

    Reply Report comment

    • Jane Clack

      July 22, 2018 at 3:07 pm

      I have sent you a copy of our useful repayment arrangement guide for making reduced payments to your creditors. You can ask them to freeze interest and charges – and should – but there is no guarantee they will do this. Supporting evidence to show you can afford to pay them no more is always useful.

      Reply Report comment

  • janet foster

    July 20, 2018 at 4:03 pm

    please could you send me self help pack.
    thank you

    Reply Report comment

    • Jane Clack

      July 22, 2018 at 3:04 pm

      Yes, I have sent the repayment arrangement guide to the email address you have provided.

      Reply Report comment

  • Mark Abel

    August 31, 2018 at 7:54 am

    Dear Sir/Madam, I need to contact my credit card companies, to ask if they would give a goodwill gesture to freeze my interest rates of 39%apr, for at least 24 months, please can you send me your booklet with template letters for the above, or I may have to use an IVA template letter.
    I cannot afford to pay all this interest anymore, as I have been refused one of my disability benefits,(PIP) Personal independence payment.

    Reply Report comment

    • Jane Clack

      August 31, 2018 at 9:39 am

      I have emailed you our booklet which should help with this but remember they do not have to freeze interest and charges – you could explain that you have had one of your disability benefits removed.

      Reply Report comment

  • Nads

    October 11, 2018 at 6:52 am

    Please can I have a self help pack please. Thank you

    Reply Report comment

    • Jane Clack

      October 16, 2018 at 9:06 am

      I have emailed one to the address you have supplied. If you need further advice please contact us on 0800 2802816 where one of our trained advisers will be happy to help.

      Reply Report comment

  • Tomasz

    October 17, 2018 at 8:55 am

    hello, can i have the self pack as well, please? many thanks

    Reply Report comment

    • Jane Clack

      October 18, 2018 at 7:33 pm

      of course. I have sent one to the email address you have supplied. If you need more information contact us on our Freephone number 0800 2802816 – this is free to mobiles also.

      Reply Report comment

  • Gabor Nemeth

    November 5, 2018 at 7:59 am

    Hi, could I have the self pack too??Thank yo very much in advance

    Reply Report comment

    • Jane Clack

      November 5, 2018 at 7:12 pm

      No problem, I shall email one to the address you have supplied.

      Reply Report comment

  • Nigel

    November 6, 2018 at 9:44 am

    My credit card company has suddenly doubled the minimum payment due to government policy and perpetual debt?? Way to help! was £130 a month is now £231
    I need advice on contacting them to freeze interest and the card and hopefully also get a reduced amount agreed please

    Reply Report comment

    • Jane Clack

      November 8, 2018 at 8:37 am

      They should not have doubled the payment but suggested you increase to repay more quickly as per government guidelines. I have had the same. If you are having problems making the full payments to your debts then do give us a call on 0800 280 2816 where one of our trained advisers will be able to give you more advice. I have emailed our repayment arrangement guide to the address you have supplied which tells you how to put together a budget and suggested payments to all of your unsecured creditors.

      Reply Report comment

  • aj

    November 13, 2018 at 8:50 am

    I had had the same happen as nigel above ! a huge increase in the minimum payment to clear balance quicker but its crippling me ! No suggestion they just upped the minimum amount !

    Reply Report comment

    • Jane Clack

      November 16, 2018 at 5:50 pm

      As I said previously, they cannot suddenly demand you pay more but are encouraging you to repay more to reduce the repayment period as only just covering the minimum payment – as I know to my cost – means it takes much longer to repay. This is why the Financial Conduct Authority has let creditors know they do not want to encourage people to stay in what they call “persistent debt”. If you cannot pay more, you cannot and in this situation it is a sign that you are dependent on the credit so you should think about stopping the use of the card and trying to get it down to a more manageable level so that you are paying off more of the capital so the interest reduces.

      Reply Report comment

  • D Evans

    November 16, 2018 at 11:53 pm

    Please can you send me a pack

    Reply Report comment

    • Jane Clack

      November 18, 2018 at 10:41 pm

      I am assuming you mean a repayment arrangement guide and so I shall send one to the email address you have supplied.

      Reply Report comment

  • Aj

    November 21, 2018 at 2:32 pm

    Exactly what I am trying to do- get the payments down. Can you send me a repayment pack soni can have a look out of interest ? Thanks

    Reply Report comment

    • Jane Clack

      November 21, 2018 at 5:38 pm

      I have emailed you a self help pack as you requested.

      Reply Report comment

  • Chris Harmon

    December 21, 2018 at 3:14 am

    Please send me a help pack as well. I’d love to know how to get my CC interest frozen. Thanks

    Reply Report comment

    • Jane Clack

      December 31, 2018 at 1:21 pm

      Hello – I have sent a copy of informal arrangements pack for the UK via email to you. You can ask for interest to be frozen but this cannot be guaranteed. I hope this helps.

      Reply Report comment

  • Claire Douglass

    January 19, 2019 at 1:05 pm

    Hello please could you send me a self help pack to hopefully freeze my interest in my credit card, thank you

    Reply Report comment

    • Jane Clack

      January 20, 2019 at 6:51 pm

      I have sent a copy of our informal arrangements guide to the email address you have supplied. I hope it is of help.

      Reply Report comment

  • Ewelina Ka

    January 26, 2019 at 4:18 pm

    Hi, could you send me a help self pack to freeze my interests on my 3 credit cards. It’s really too much. I am only repaying minimum payments and accually only repaying that intetests not a real debt! All together is 10000 🙁

    Reply Report comment

    • Jane Clack

      January 27, 2019 at 10:26 pm

      I have sent one to the address you have supplied. This is correct for England and Wales. However, if you can afford the minimum monthly payments they will not freeze interest and charges as they only tend to do this when people cannot afford to make the full payments when it will affect your credit rating. If you can afford the minimum monthly payment we would always advise paying more to those creditors charging the higher rates of interest after paying all your priority debts. If you ring the Freephone number on this site our trained advisers will be able to offer more detailed free, confidential and no obligation advice.

      Reply Report comment

  • Mike Bell

    March 14, 2019 at 8:29 am

    Can you email me a pack please
    Thanks

    Reply Report comment

    • Jane Clack

      March 14, 2019 at 1:19 pm

      I am assuming you mean our informal arrangements guide which I am emailing to the address you have supplied.

      Reply Report comment

Please Post Your Comments & Reviews

Your email address will not be published. Required fields are marked *

*
*