How do I write a letter to freeze credit card interest? (2024)

Table of contents

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 circ*mstances 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.

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.

Comments ¹⁰²

Samuel wrote — October 1, 2013 2:59pm

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

Julie ann wrote — January 3, 2018 12:14am

Can you send me a self help pack please

Jane Clack wrote — January 5, 2018 8:12am

I have sent one to the address you have supplied.

Kinga wrote — October 16, 2014 6:07pm

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

Rich Wells wrote — October 17, 2014 2:57pm

Hello Kinga,

Please contact our helpline number on 0800 316 1833 (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

cybelle wrote — November 30, 2015 10:31am

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

Jane Clack wrote — December 1, 2015 8:29am

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

Melissa bouaddaoui wrote — June 15, 2017 11:13am

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

Jane Clack wrote — June 15, 2017 5:41pm

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.

Melissa bouaddaoui wrote — June 15, 2017 11:15am

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

Glen wrote — June 20, 2017 4:14pm

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

Jane Clack wrote — June 20, 2017 6:40pm

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.

Daria wrote — July 31, 2017 7:59am

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

Jane Clack wrote — July 31, 2017 9:42am

No sooner seen than done 🙂

Mark Daniels wrote — August 21, 2017 12:14pm

Please can I have a self help pack? Thanks

Jane Clack wrote — August 21, 2017 12:57pm

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

Mary wrote — September 10, 2017 6:51am

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

Jane Clack wrote — September 10, 2017 11:26am

I have emailed one to you.

Ryan wrote — September 26, 2017 9:40pm

Please can I have a self help pack? Thanks

Jane Clack wrote — September 29, 2017 9:23am

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

Carl wrote — October 3, 2017 7:35pm

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

Jane Clack wrote — October 4, 2017 10:50am

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

David Bloom wrote — October 13, 2017 9:51am

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

Jane Clack wrote — October 13, 2017 3:19pm

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

Abbie Hirst wrote — November 10, 2017 9:39am

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

Jane Clack wrote — November 10, 2017 9:46am

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

FERNANDA LOPES wrote — November 15, 2017 6:38pm

Good afternoon,

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

D Brnft wrote — November 15, 2017 8:57pm

Please can you email me a help pack.
Many thanks

Jane Clack wrote — November 16, 2017 4:05pm

Have done so!

Jerry Mitchell wrote — December 6, 2017 7:32pm

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

Jane Clack wrote — December 8, 2017 12:20pm

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

Nia Thomas wrote — December 13, 2017 11:35pm

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

Jane Clack wrote — December 14, 2017 9:14am

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

aiste wrote — December 19, 2017 4:27pm

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

Jane Clack wrote — December 20, 2017 12:37pm

I have sent one to the address you supplied.

klaud wrote — January 22, 2018 2:02pm

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

Jane Clack wrote — January 22, 2018 2:09pm

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.

Osa wrote — February 5, 2018 6:47am

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

Jane Clack wrote — February 5, 2018 9:32am

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.

Michaela wrote — February 24, 2018 11:22am

Please can you send me a self-help pack?

Jane Clack wrote — February 24, 2018 3:57pm

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

Szilvia Mate wrote — March 20, 2018 11:23am

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.

Jane Clack wrote — March 20, 2018 3:33pm

You need to write to them and explain the circ*mstances 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 circ*mstances 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.

Leanne wrote — April 23, 2018 5:58pm

Please can you send me a self help pack.

Jane Clack wrote — April 25, 2018 11:55am

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

Liz wrote — May 8, 2018 12:26pm

Could you send me a self help pack please?

Jane Clack wrote — May 8, 2018 12:37pm

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.

Amani wrote — June 8, 2018 9:44pm

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

Thanks

Jane Clack wrote — July 4, 2018 5:53pm

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

Mark wrote — July 20, 2018 2:53pm

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

Jane Clack wrote — July 22, 2018 3:07pm

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.

janet foster wrote — July 20, 2018 4:03pm

please could you send me self help pack.
thank you

Jane Clack wrote — July 22, 2018 3:04pm

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

Mark Abel wrote — August 31, 2018 7:54am

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.

Jane Clack wrote — August 31, 2018 9:39am

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.

Nads wrote — October 11, 2018 6:52am

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

Jane Clack wrote — October 16, 2018 9:06am

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.

Tomasz wrote — October 17, 2018 8:55am

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

Jane Clack wrote — October 18, 2018 7:33pm

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.

Gabor Nemeth wrote — November 5, 2018 7:59am

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

Jane Clack wrote — November 5, 2018 7:12pm

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

Nigel wrote — November 6, 2018 9:44am

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

Jane Clack wrote — November 8, 2018 8:37am

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 316 1833 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.

aj wrote — November 13, 2018 8:50am

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 !

Jane Clack wrote — November 16, 2018 5:50pm

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.

D Evans wrote — November 16, 2018 11:53pm

Please can you send me a pack

Jane Clack wrote — November 18, 2018 10:41pm

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

Aj wrote — November 21, 2018 2:32pm

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

Jane Clack wrote — November 21, 2018 5:38pm

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

Chris Harmon wrote — December 21, 2018 3:14am

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

Jane Clack wrote — December 31, 2018 1:21pm

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.

Claire Douglass wrote — January 19, 2019 1:05pm

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

Jane Clack wrote — January 20, 2019 6:51pm

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

Ewelina Ka wrote — January 26, 2019 4:18pm

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 🙁

Jane Clack wrote — January 27, 2019 10:26pm

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.

Mike Bell wrote — March 14, 2019 8:29am

Can you email me a pack please
Thanks

Jane Clack wrote — March 14, 2019 1:19pm

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

Sarah wrote — May 3, 2019 10:17am

HI,
Please could you send me an informal arrangements guide/repayments pack.
Do you know if CC companies can lower interest charges, rather than freezing them, and it NOT affect your credit rating as I will need to remortgage quite soon?
Thanks

Jane Clack wrote — May 6, 2019 7:03pm

I shall send you an informal arrangements guide to the email address you have supplied.

I have not heard of credit card companies reducing interest rates without legal action such as time orders. If you are no longer going to use the cards they often let you continue to pay the old rate if and when the increase rates. Paying more than the minimum payments reduces the balance and interest more quickly and does not affect your credit rating.

Stephanie Mcfarlane wrote — May 7, 2019 1:46pm

Please could you send me an informal arrangements pack

Jane Clack wrote — May 15, 2019 1:09pm

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

Dan wrote — June 15, 2019 9:03am

Hi. Could you please send me a pack on how to ask my CC companies to freeze the interest on my cards so i can pay them off. I am managing to cover the minimums each month, but it is leaving me with no money for myself or family. Currently having to live off just my wife’s wage which we are struggling with. I have managed to get myself in an eye watering amount of debt, mainly due to paying legal fees to obtain a contact order for my son from a previous relationship. Each month i pay the minimum, but then use the card again to pay for monthly essentials, meaning currently they are no reducing. I want to pay them off. Any help would be fantastic. Thank you in advance.

Jane Clack wrote — June 16, 2019 7:21am

I shall email you our guide to making reduced payments to your creditors but remember no-one can guarantee they will freeze interest and charges if you are making the full payments. If you want to reduce payments and no longer use the cards then certainly this would be considered as creditors are encouraged to treat customers fairly by the Financial Conduct Authority but they have to know you are in difficulties. If you have any further problems after using the booklet then do contact us via http://www.payplan.com or the telephone number above where a trained adviser can give you further help and advice. I shall send the booklet to the email on your next question.

Dan wrote — June 15, 2019 9:09am

Hi, sorry, the email i gave to you no longer exists. Please supply the information requested to the new email i have provided. Thanks

Jane Clack wrote — June 16, 2019 7:24am

I have sent the repayment arrangement guide to this email address.

Donald wrote — September 23, 2019 2:13pm

Hello, I am In he same situation as many of the people here. Could put please send me a self help guide as well please. Thanks alot

Jane Clack wrote — October 1, 2019 2:50pm

I have sent our useful guide to the email address you have supplied.

Jane Clack wrote — October 1, 2019 2:51pm

I have emailed our useful guide to the email address you have supplied

Shela wrote — October 25, 2019 3:16am

Hi, Please send me also the self help pack?
Got the same problem with the others here.

Jane Clack wrote — October 29, 2019 7:04am

I have sent the Useful Guide we provide to the email address you have provided.

Gary wrote — November 6, 2019 10:58pm

Thankfully I’m not unemployed but my debts have gotten to the point where I’m starting to struggle. Please could you send me the self help pack?

Jane Clack wrote — November 12, 2019 10:08pm

Of course. I’ll send you our repayment arrangement guide to the email address you have supplied. I should say we are in the process of rewriting this.