Should I pay more?

sgx.saint

Hey.

I have been managing my own DMP with my creditors for about two months now. The only income I receive is JSA Benefit so using the National Debtline template letters which I modified for my own use I offered token payments of £1 to my creditors. I attached proof of income etc with my letter.

CapQuest/Egg whom I owe the most money to accepted very quickly. Some of my other creditors who I rang today to change my address details say they never received any letter. Which annoys me as I blatently sent it and it costs quite a bit to constantly send letters. But anyway, thats another matter.

Some of my creditors are still wanting £5 from my previous agreement, I cannot normally afford to pay this, hence why I am offering £1. They have accepted this £1 payment, but as I say still want £5 from my previous arrangement.

Now it was my birthday recently and I have a bit of spare cash, not much. But I was wondering whether it was a wise idea to pay £5 to some of my creditors as a one off and then continue with my pruposed £1.

Any ideas?

Wonder_Girl

Don't do it!

If you pay them more once they will want it all the time, put the money away until you have enough to clear a whole debt

sgx.saint

Yeah, thats what I was thinking.

Just pain in the !!!!!! writing all the cheques then trying to find the payment addresses for al the creditors lol.

Thanks

Mike_St_Helens

NO... dont pay them anymore, Thats your birthday money... We all deserve a treat now and again to keep us sane..

Spend it on nice things for yourself, Keep paying them creditors what you can afford from your allowances.

mattp_3

i'd second that - once they see an increased payment they will be on your case to increase it to that amount regularly - better to put it away in a high interest account until you can afford to pay off one of your creditors in full.

Thats my best suggestion
good luck

sgx.saint

Thanks for the replies guys.

I just dont know what to buy with the money tho lol

I was after a Nintendo DS Lite, but not sure if I will make full use of it.

I do need a new GFX card for my PC, but I have posted another thread on here about my partner getting me a PC on finance for Uni.

So I dunno...any suggestions what to spend it on?

Wonder_Girl

You could take your lovely partner out to dinner, or even better a surprise picnic

Go on spiol yourself, i'm sure there is something you want (not need)

Broken_hearted

Treat yourself the DCA's don't care about you.

sgx.saint

Hmmm.

I want an Xbox 360, but a bit out of reach lol ..... hmmmmmm ... need some serious thought on this one then