what should i do confused

kickingkay

hello all well since speakking to CCCS i have managed to sort out a better arrangment for my mortgage so im now only paying % each month saving £200. the CCCS said they could not help me due to the fact that i didnt have enough surplus cash to pay off creditors (prior to mortgage change)
my question is do i call CCCS again, pay the £1.00 payment they recommended or pay a higher amount pro rata based on my saving and should i re write and tell all the companies that im paying more than advised or that im making these payments until CCCS have finalised things
i just dont know its probably so obvious but i just cant see it
many thanks
klare xx

Magentasue

Don't know - but I'd think you've nothing to lose ringing again for advice.

fatbelly

Hi Klare - if you have money left over after essential expenditure then you should be offering that to your creditors. And it makes a lot of sense to use a third party free service like CCCS. They can help with the calculation, administer the payments and generally take a lot of the heat out of the situation.

That would be my advice even if you weren't a homeowner. But as you are - I say give them a ring soon and let us know what they say.

Best wishes

System

Hi Klare

My advice - call the CCCS and talk it thru with them. They'll have you case details on screen and can give you the best personalised advice.

Update your budget summary with your reduced mortgage repayments and then see what your revised cash surplus each month is. This is what you can afford to pro-rata out to your creditors, but first make sure you've included everything - such as an "Emergencies" amount in your budget summary. Otherwise you'll be promising your creditors a repayment structure that you can't maintain.

Good luck
Dave

Thefunkygibbons

Obviously you want to be paying the debt that is costing the most

Are any of the debts still charging interest?

If so, direct the money to these first until they are cleared