Since making the above agreement with you, my circumstances have changed. I cannot now afford to make the agreed monthly payments for the following reasons.
I enclose a budget summary which shows my total income, and my total outgoings. As you can see I have only £ per month left for my creditors.
I have worked out the offers I have made to my creditors on a pro-rata basis and I have written to all my creditors asking them to accept reduced payments.
Because of my circumstances please agree to accept a reduced offer of £ per month. If you are adding interest or other charges to the account I would be grateful if you would freeze these so that all payments I make will reduce what I owe you.
If my circumstances improve, I will contact you again.
Please send a to make it easier to pay you.
I look forward to hearing from you as soon as possible.