has anyone offered £1 token payments for big debts?

DevonGirl

westmids wrote: »

hmm.. i didnt think about the token payment bit being temporary... i am kinda stuck in a rut then..
i dont owe a huge amount.. the most being grattan at £1,035..additions about £275 ..studio about £450 and oli about £250.. as i said cca has not helped studio have sent numerous responses , no help at all... and additions have passed me on to NDR

Hi WM

How about working out exactly how much you have to offer your creditors after living costs, and dividing it up between then pro-rata based on the total amount of the debt? Then you can write to your creditors showing your living costs, remainder, and how that has been divided up, so they can see it's all fair, rather than paying them all £1? It's an approach suggested by National Debtline in their information pack.

Assumed by your login name that you live in the west midlands (although possibly not!), so here's the link for the England and Wales budget sheet.
http://www.nationaldebtline.co.uk/england_wales/pdf/personal-budget-sheet/pbs-monthly.pdf

http://www.nationaldebtline.co.uk/england_wales/pdf/self_help_pack/credit_debts.pdf

Hope this helps
DG