Tips on asking the banks to reduce payments?

[Bouncebackability260]

Hi, I have had to take charge of my elderly father's finances because of his ill health. I have got right of atorney and really need to sort out his monthly visa payments as I have been paying for him some of them for the past few months. he hasn't used any of his cards for approx 2 to 3 years and all are very high interest,(min payment just about covers the interest). Are there any expentiture forms I can download that I could submit to the banks as the CAB will not see me unless my father is with me, even with a copy of the power of attorney and he is more or less housebound!. Any tips on what to do if the banks refuse to play ball?,Thanks.

[Andy01]

Write this to your card company.

 

1 High Street,

Newtown,

Kent

R21 4RH

 

June 28, 2006

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

Dear Sir/Madam

 

Re Account No/Reference No:− 4563210025897412

 

Since making that above agreement with you, our circumstances have changed.

 

We cannot now afford to agreed monthly payments because ... [your paragraph added here]

 

We enclose a Personal Budget sheet which shows our total income from all sources, and the total outgoings of our household. As you can see we have no money left to make offers of payment to my creditors.

 

In view of our circumstances, would you please accept £1.00 payment at present to be reviewed in six months. If interest or other charges are being added to the account, we would be grateful if you would freeze these so our debt does not increase.

 

Should my circumstances improve we will contact you again.

 

Thank you for your assistance. We look forward to hearing from you as soon as possible.

 

Yours faithfully

 

I will try to find you a budget list if not its easy you can put all your out goings on one side and your monthly expenditure on other. Work out how much money you left with (it could be £2.00) that divide equally to both cards.

[Andy01]

 

Go To this link and you can fill it even on line and print it.

 

http://www.nationaldebtline.co.uk/england_wales/pdf/personal-budget-sheet/pbs-monthly.pdf

[Bouncebackability260]

Thanks for the link it was exactly what I needed!. I have completed the expenditure form and will send to the banks over the weekend. Any further advice would be welcome. What do the banks usually do in a situation like this?, will I need a tin hat!

[creditcardmug]

Visit CCCS website, make a telephone appointment, they will direct you.

 

This is a charity, albeit paid for by the banks, they will send a I.E form for you to complete and send to the creditors

 

From what you have said, all will be fine

 

Good luck

[Bouncebackability260]

Hi again, I have sent the letters as instructed and Mint have sent back a letter saying that they will have to speak to my father before any action on the account can be applied. The thing is my father has lost his ability to speak due to a multitude of strokes and if I phone them I don't think they will talk to me!. What should I do now?. Thanks for reading.