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Debt Management
MissMoneypenny82_2
Posts: 6 Forumite
Hello all
Just after some advice please. Im a discharged bankrupt (went bankrupt in 2005, discharged same year) and I have approx £2k of new debt.
Its not that I cant pay it off, but im only oaying a minimum payment, and the intrest rates are quite high. Ive been approached by a debt management company who will take on my debt and I will pay them monthly.
My concern is that I may end up in trouble with these people. Are they regulated? Do the comoanies have to accept my offer of a repayment? ie if XX Debt Company approach HSBC on my behalf, do HSBC have to accept the offer? Ive asked the company but they are very shady.
Any help is appreciated
Amy
Just after some advice please. Im a discharged bankrupt (went bankrupt in 2005, discharged same year) and I have approx £2k of new debt.
Its not that I cant pay it off, but im only oaying a minimum payment, and the intrest rates are quite high. Ive been approached by a debt management company who will take on my debt and I will pay them monthly.
My concern is that I may end up in trouble with these people. Are they regulated? Do the comoanies have to accept my offer of a repayment? ie if XX Debt Company approach HSBC on my behalf, do HSBC have to accept the offer? Ive asked the company but they are very shady.
Any help is appreciated
Amy
0
Comments
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Companies are under no obligation to agree to reduced payments. They are ulso under no obligation to reduce interest or stop charges.
Please please please do not consider a DMP with a fee paying company. Contact one of the debt charities for advice. CCCS National debtline and CAB are the 3 big ones.
Another idea would be to post your SOA here and let us see if you can find you some savings to help pay more than the minimum to your debts.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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I was going to say about CCCS and a SOA, but the LilacPixie got in first, What a Great site this is, everyone is here to help. Long Live Pixe Power..:beer: Keep your Chin up.. it can only get better :beer:
I'm one of those people who was born to have money, but I just don't have any!0 -
Thanks, I wouldnt pay a fee to any DMC thats for sure. I just have more going out than in at themoment, and cannot reduce anything. Thanks0
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