c.a.b advice

manbelow

i have got £42000 worth of debt with 4 creditors, i went to the c.a.b for advice and he gave me a letter with my income and expenditure form to send to each of my creditors, which i did. the big one of £24850 accepted a reduce payment of £90 per month for six months, and the smallest creditor of £1250 accepted a reduced payment of £4.65 per month for six months.
the other two one of £8600 refused and has increased my credit limit so i don't pay over limit charges it is now over the agreed limit,i have sent them another letter asking for a long term payment plan and not crisis management as advised by the c.a.b.
the final one of £6900 is now over the agreed limit, asked me to ring them to discuss the situation, which i did and they told me that because i have used the card within the last 3 months, i can't set up a payment plan for another 3 months, and asked me for a payment when i get payed, i could only afford £50. i will be seeing the c.a.b later this week. is there anything else i can do as i am at the end of my tether, any help would be appreciated.
phil.

mountainofdebt

the only things that I can think of at the moment is

a) post all your out goings, income and debts (inc limits, apr and balances) to see if we can reduce your expenditure so that you can make overpayments.

b) cut up your cards. When you're in a hole stop digging. I don't mean to be stroppy but you know what I mean.

Can I ask what you used your card for?

Xbigman

If you have used a card recently but before you saw the CAB then ignore any refusals on those grounds. The way forward is to send the payments that CAB have worked out to the creditors who have refused each month along with a copy of your income / expenditure report. Whether they accept or not is not a consideration. Its what you can afford and they will have to lump it or take you to court, and the court will order virtually the same payment anyway. Often the court opts for a lower payment. Eventually they will accept or pass the debt on. Once passed on you go through it all again until someone does accept.

If you have used a card since starting the DMP process then you might want to slap yourself. This will cause your creditor to become very hard line with you. Your creditor may try to bully you by talk of fraud. Just politely point out you have commited no offence and offer the same payment.
Cut up your cards, under no circumstances use them again. Just keep sending the reduced payments you can afford. It will take longer but it will come right in the end.
Regards



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