Is it really worth it?

Crisp_£_note

Hi

My total debt has somehow managed to reduce itself by almost half due and I now owe roughly £6,000 to 4 credit cards and 2 loans.

Is it really worth me continuing with a DRO or am I better off now re approaching the companies and offering to up my monthly token payment from £1 to £10? I can afford this as the debt that has been cleared was costing £46 a month anyway so add this to the £6 I am already paying out for token payments and it totals £52 a month if you see my reasoning?! So I am not exactly spending any more.

All I really want is someone to lend me enough to consolidate it all to a sensible amount which would stabalise my future.

I need to make a decision soon as the Credit Cards are now sending me to the debt collectors. At the moment I still have £1 token payment Standing Orders set up with them all.

SkyCard is the one who is harrassing me with constant calls dailly to both the landline and mobile and also daily text messages to my mobile. I have been keeping a record of them all but not sure what to do next other than continue not to answer the phones. I already sent them the official letter to tell them to stop and all the other cards have stopped harrassing me (other than by letter of course) so why are SkyCard still continuing? More to the point what can I do about it?


Thanks for any advice.

Tixy

Did you letter say

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

If so now is the time to be making the complaints.

As to whether you should continue with the DRO, I don't know enough about them but if you can afford your token payments for a while and expect your situation to improve either by earning more or something costing you less so that you will be able to clear the debts in the future this might be better than a DRO.

If you don't think your situation will improve and you will be stuck paying token payments for 8 years or more (more if any are still charging interest) then maybe a DRO is better.