Arden Accept £14 per month in DMP

Here is an example of how a client needed to go into a Debt Management Plan, which was accepted by Arden:

Arden DMP Accept Letter

Credit Management

Telephone  No: 0845 234  1098
Fax No: 0121 712 4561

Your Ref: NUMBER

Dear Sir/Mdm

Account Number: NUMBER
Customer Name: NAME
Customer address: ADDRESS
Balance: £1994.64

Thank you for contacting us about our mutual customers account.

We are pleased to confirm that the offered to pay £14.00 per month for 12 months has been accepted. The first payment is due on 31 January 2014.

This arrangement does not formally change or modify the credit agreement.  The arrangement will stop if our customer does not make any of the agreed payments by the due date.

At the end of this arrangement period, or if there is any change in your customers circumstances,  you will need to contact us immediately to discuss the situation. We will require a proposal  from our customer to repay any arrears that maybe owed on the account.

We can confirm the current interest rate is 0.000%.

We remind you that we still have to report any arrears to the Credit Reference Agencies even though we have agreed to this payment arrangement.

Yours faithfully

Payment Plan Team

By creditors accepting the payment plan, the debtor is no longer being harassed with ongoing calls and letters. This period is now an opportunity for the client to decide if they want to consider more serious debt solutions.

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