Advice Required Please

DannyM_2

Hi all,

I have been dealing with my debts for around 3 years now. In total I owe around £13000 and have entered agreements with my creditors and they have stopped the interested payments.however, I was unemployed for a while and have been paying off my creditors using my student loan. I have decided that this is not the best option as I am borrowing to pay off previous debts so I have been in touch with the CCS and they have said that I need to reduce my monthly payments and will act on my behalf. However I am really worried that my creditors will be unhappy with this and will try to envoke court action. I have tried my best to make the payments required but it is now impossibe. I have made payments on time for the last three years. How likely are they to accept reduced payments and how likely are they to take me to court to try to recover their money. I have around 6 months left of my course and I am applying for full time employment.

sparklygem

Hi Danny

Like you Ive just posted today for the first time. Have been struggling with my debts like you but finally went to the Citizens Advice bureau at the end of the year and am starting to get sorted.

Did you mean the CCCS? If they are acting on your behalf, this will not result in any court action. You will have to detail all your income and expenditure They will work out what you can afford to pay your creditors and contact them with a payment plan.

Hope it all goes well

Xbigman

I assume you mean you sorted out the current reduced payments yourself and your circumstances have changed, so you need to reduce payments. Don't worry. Going through CCCS is exactly the right thing to do. Court action is highly unlikely and even if it did come about it is a completely empty threat. They will simply use the same figures CCCS use and order you to pay an amount you can afford (VIA a CCJ). Given your current good payment record the court would be very sympathetic, and so should your creditors. You might get the usual round of computer generated letters and phone calls but just keep passing it all the CCCS.
Regards



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