Bankrupt!

jesster_2

This is great news. You're on the right road Nick.

NickToye

I certainly am, anyone here use PayPlan? What exactly did they do for you?

Chortle_2

NickToye wrote:

Also put in my payplan request. It says that I have £750 left over to pay my debts. So when I worked this out it leaves me with:

Loans = £309
Catalogue = £200

Which leaves around £241 for two credit cards.

Which is more than what I thought I would have available. It really suprised me.

See You certainly don't need to go bankrupt! That is more than I normally have to clear my debts each month these days!

Loads of people on here use CCCS/Payplan - just read some of the other threads on the board and look at their website!

NickToye

Well I think its 750 because it asked me for my net salaries, now that is after tax right?

Chortle_2

Yes, 'net' is after tax etc has been deducted.

NickToye

Its just I worked it out differently, anyway, I'll have to speak to them when they call me.

Fingers crossed.

NickToye

Right this snowball thing. I've just done the calculations and its saying that I should pay £64 less a month on one loan, and £20 more on another, pay £84 more on a credit card etc... What if the bank loan is a fixed amount to pay each month, will they accept less?

Chortle_2

Sounds like you've done the snowball calculator wrong. Which site did you use?

Loans are a fixed repayment (and no, in most cases, without a prior arrangement through a DMP, they won't accept lower payments) so you need to 'tick' the "fixed repayments" box - or just enter your payment as the minimum repayment amount.

HTH

NickToye

ah, that would be why then, cheers.

NickToye

I did that again, and it says it will take me 70 months! 2012, thats not going to happen, its going to be cleared before then!