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Freeze Interest on Credit Cards – Sample Letter Template

Freeze Interest On Credit Cards

For free and impartial money advice and guidance, visit MoneyHelper, to help you make the most of your money.


Use our free letter templates to ask creditors to freeze interest on your account. You can use this letter if you have already asked your creditors to remove interest from debt repayments, but they have yet to agree. Our professionally written letter could make your creditors change their mind and make getting out of debt easier. 

Download our single or joint letter template depending on if you have single or joint debts. All you have to add is some personal details and information about your circumstances – and then send it off. It could be the letter that makes your debt repayments more affordable. 

Letter Template

To Whom It May Concern

Regarding Case #: [your case number]* (required)

Thank you for your [letter/telephone call]* (required) on [date]* (required) about the above account. I am sorry that you feel unable to suspend interest charges on the above account. The majority of my other creditors have agreed to the offer of payment and agreed to suspend any interest charges still being added. They have accepted that adding further interest would not help me in my present financial difficulties, and would only increase my total debt.

As you are aware, I have already paid a lot of interest on my account. If interest charges continue, the monthly instalments I am paying will not even cover that interest. Also, the cooperation of my other creditors who have agreed to freeze interest already would be put at risk.

I would therefore be grateful if you would reconsider your decision not to freeze the interest.

This would mean that the monthly payments I make would actually reduce the amount we owe to your company

I look forward to hearing from you.

Yours sincerely

Downloadable Resource

The download links below take you to a Google document template where you can make a copy or save in any document format you like. Note, you may have to login to your Google account.

Download – Single (for one person)
Download – Joint (for couples)

Can I ask my creditors to freeze interest?

You can ask your creditors to freeze interest on debt repayments. By freezing the interest on payments, you can reduce your monthly expenses, reduce your overall debt and get away from financial hardship.

Our free letter template is proving an effective way to ask creditors to freeze interest. 

Do creditors have to freeze interest?

In general, creditors are not obliged to freeze the interest on your debt repayments. However, there are some sources and bodies that recommend creditors agree to freeze interest if the debtor is already experiencing financial difficulty. The Credit Services Association is one body that pushes creditors to freeze interest when debtors are experiencing financial insecurity. This is written in their code of conduct, which all lenders agree to when they become a member. 

In the long run, it can be beneficial for the creditor to freeze the interest. By stopping interest payments on the debt, the creditor may not be in line to receive as much money, but at least they will know you can work towards paying all of the debt back, rather than using a debt solution to write off the debt. 

We need to position the situation as a win-win for everyone, which is what our letter template does. 

How to prove financial difficulty

To prove that the interest is not helping you get out of debt and even making your finances worse, you might want to give the creditor details about your monthly income and expenses. You can do this by providing them with a budget explaining everything you have to pay each month (including other debts) and how much money you receive.

When the creditor has a full understanding of your financial problems, they are more likely to agree to freeze interest in your debt repayments. 

Are the interest and charges fair?

There are laws that cap the interest and fees you can be subject to when paying back debt – and even when you are paying back loans. 

You can ask a debt charity to look at your agreement and find out whether you have been wrongfully charged too much interest. You can then dispute fees added to the debt and unfair interest rates, such as an excessive charge for sending you a notification.


Are you struggling with debt?
Are you struggling with debt?
  • Affordable repayments
  • Reduce pressure from people you owe money to
  • Stop interest and charges from soaring